The basketball market in Bosnia and Herzegovina is experiencing negligible growth, influenced by factors such as the limited development of the sub-markets and low consumer engagement. The slow adoption of digital technologies in the basketball media industry, lack of variety in basketball merchandise, and limited availability of tickets are hindering the growth potential of the overall market.
Customer preferences:
The emergence of social media has greatly influenced the Basketball Market in Bosnia and Herzegovina, as it has become a powerful platform for Sports marketing and fan engagement. Brands and teams are utilizing social media to target and connect with younger audiences, who are more active on these platforms and are an important consumer segment for the basketball market. The rise of influencer marketing and live streaming of games has also made social media a crucial tool for promoting the sport and reaching new fans. This trend is expected to continue with the growing reach and impact of social media in the country.
Trends in the market: In Bosnia and Herzegovina, the Basketball Market within the Sports Market is experiencing a surge in popularity, fueled by a growing interest in the sport and the success of the national team. This has led to an increase in the number of professional and amateur basketball teams, as well as a rise in attendance at games. In addition, there is a trend towards more advanced training techniques, such as data analytics and sports technology, to enhance performance and player development. This trend is expected to continue, providing opportunities for industry stakeholders to invest in and capitalize on the growth of the Basketball Market within the Sports Market.
Local special circumstances: In Bosnia and Herzegovina, the Basketball Market is deeply ingrained in the countrys culture and serves as a source of national pride. This is due to the regions rich history and success in international basketball tournaments. Additionally, the sport is heavily supported by the government and has a large following among fans. The market is also heavily influenced by the geographical location of the country, with its close proximity to other European basketball powerhouses like Serbia and Croatia. Furthermore, the countrys turbulent past has led to a unique regulatory environment which has shaped the growth and development of the Basketball Market in Bosnia and Herzegovina.
Underlying macroeconomic factors: The growth of the Basketball Market within the Sports Market in Bosnia and Herzegovina is heavily influenced by macroeconomic factors such as the countrys overall economic stability, government regulations, and availability of disposable income for leisure activities. Strong economic growth and investment in sports infrastructure, as well as government initiatives promoting the development of the sports industry, support the growth of the Basketball Market. However, challenges such as economic recession and political instability can negatively impact market performance. Additionally, the popularity of basketball in the country also plays a significant role in the demand for basketball-related products and services.
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.
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