The Basketball Market in BRICS is experiencing slow growth, impacted by a variety of factors such as increasing competition among Basketball Media companies, the availability of cheaper Basketball Merchandise options, and limited demand for high-priced Basketball Tickets. However, with the rising popularity of digital technologies and the growing health consciousness of consumers, the market may see an uptick in growth in the near future.
Customer preferences: Sports have always been a significant cultural and social activity in BRICS countries, with a strong emphasis on team sports such as soccer and cricket. However, there has been a noticeable increase in the popularity of basketball in recent years, especially among younger demographics. This can be attributed to the growing influence of American culture and the widespread exposure to the sport through social media and streaming platforms. Additionally, the rise of homegrown players and successful national basketball teams has also contributed to the increased interest in the sport.
Trends in the market: In the BRICS countries, the Basketball Market within the Sports Market is experiencing a trend towards the incorporation of advanced technologies and analytics. In Brazil, virtual reality training programs are being used by teams to improve player performance and reduce injury risks. In Russia, there is a growing demand for wearable technology that can track metrics such as heart rate and movement patterns. In India, there is an increasing use of data analytics to gain insights into player performance and make strategic decisions. In South Africa, there is a shift towards incorporating esports elements into basketball games to attract a younger audience. These trends are significant as they not only enhance the overall fan experience, but also improve player performance and boost revenue for the industry. Industry stakeholders need to stay updated on these trends and invest in technology to stay competitive in the market.
Local special circumstances: In Brazil, the Basketball market is heavily influenced by the countrys passion for the sport and its strong cultural ties. The local fan base is deeply loyal to their teams, resulting in a thriving market for merchandise and ticket sales. The countrys large urban population also allows for the development of state-of-the-art facilities, attracting top players and teams from around the world. Additionally, the governments focus on improving infrastructure for sporting events has led to a rise in the number of international tournaments and exhibitions, further boosting the markets growth.
Underlying macroeconomic factors: The Basketball Market within the Sports Market in the BRICS countries is also impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As these nations continue to experience economic growth and development, there is an increase in disposable income and a greater interest in sports, leading to a rise in demand for basketball products and services. Moreover, favorable government policies and investments in sports infrastructure and facilities have also contributed to the growth of the basketball market in these countries. Additionally, the rising popularity of basketball and the sports inclusion in international tournaments have boosted the markets growth in these nations.
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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