The Basketball Market within the Sports Market in ASEAN shows signs of slow growth, due to factors like limited market reach and lower spending power in the region. Despite this, the sub-markets of Basketball Media, Merchandise, and Ticket Sales continue to witness modest growth, driven by increased fan engagement and the convenience of online platforms. However, the overall market growth is impacted by factors such as competition from other sports, lack of infrastructure, and limited popularity outside major urban areas.
Customer preferences: With the steady growth of the Basketball Market within the Sports Market in ASEAN, there has also been a noticeable shift in consumer preferences. More and more individuals are looking for sustainable and eco-friendly options for sports gear and equipment. This trend is driven by the rising awareness and concern for the environment among consumers in the region. Brands that offer sustainable and environmentally-friendly products are now gaining traction and standing out in the market.
Trends in the market: In ASEAN, the Basketball Market within the Sports Market has seen a steady increase in the use of technology for player performance tracking and fan engagement. This trend is expected to continue, with the adoption of personalized training programs and virtual coaching sessions. Moreover, there is a growing demand for online ticketing and streaming services, enabling fans to access games from the comfort of their homes. This development presents opportunities for industry stakeholders to expand their reach and tap into the regions growing market of tech-savvy sports enthusiasts.
Local special circumstances: In ASEAN, basketball is widely popular due to strong cultural ties to the sport and a growing emphasis on sports as a means of economic development. However, each country within ASEAN has its own unique cultural backdrop, resulting in varying levels of interest and investment in the basketball market. For example, in the Philippines, basketball is deeply ingrained in the national identity and is the most popular sport. In contrast, in Vietnam, football is the dominant sport, and basketball has yet to gain significant traction. This cultural influence shapes the demand and consumption patterns in each market, impacting the overall growth and potential for the basketball market in ASEAN. Additionally, regulatory differences, such as varying levels of government support and funding for sports programs, also play a critical role in delineating the success of the basketball market within the region. These factors create a diverse and dynamic landscape for basketball in ASEAN, presenting both challenges and opportunities for market players.
Underlying macroeconomic factors: The Basketball Market within the Sports Market in ASEAN is greatly impacted by macroeconomic factors such as economic growth, government policies, and consumer spending. Strong economic growth and favorable policies, such as tax incentives for sports development, can lead to increased investment and development in the Basketball Market. Additionally, rising consumer spending power in countries like Indonesia and the Philippines is driving demand for sports and leisure activities, leading to a larger market for basketball. On the other hand, economic downturns and financial instability can negatively impact this market, as consumers cut back on non-essential expenses like sports and leisure.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
