The Basketball Market in Cambodia is facing slow growth due to factors such as limited awareness and underdeveloped infrastructure. However, with increasing focus on digital platforms and efforts to promote the sport, there is potential for growth in all sub-markets including media, merchandise, and ticket sales.
Customer preferences: One notable trend in the Basketball Market within the Sports Market in Cambodia is the increasing demand for sustainable and eco-friendly sports equipment. This can be attributed to the growing awareness and importance of environmental conservation among consumers. Moreover, the shift towards sustainable options is also driven by the governments initiatives to promote and support eco-friendly practices in the country. As a result, there has been a rise in the availability and popularity of eco-friendly basketballs, shoes, and other sports equipment, catering to the environmentally-conscious segment of the market.
Trends in the market: In Cambodia, the demand for basketball has been steadily increasing, especially among the younger population. This trend can be attributed to the growing popularity of basketball stars like Michael Jordan and LeBron James, and the emergence of local basketball leagues and teams. In the Sports market, this trend translates into a higher demand for basketball merchandise and equipment, as well as opportunities for investments in local basketball franchises. The trajectory of this trend is expected to continue upwards, given the increasing focus on sports development in Cambodia. This presents opportunities for players, coaches, and business owners to tap into the potential of the growing basketball market in the country.
Local special circumstances: In Cambodia, the basketball market is driven by the countrys love for the sport and its growing popularity among the youth population. The lack of professional leagues and infrastructure has led to a strong emphasis on grassroots development and community-based tournaments. Additionally, the strong cultural ties to neighbori
Underlying macroeconomic factors: The growth of the Basketball Market within the Sports Market market in Cambodia is heavily influenced by macroeconomic factors such as the countrys economic stability, government policies and investments, and global economic trends. Countries with strong economic growth and stable political environments tend to have a higher demand for sports and therefore, a thriving Basketball Market. Furthermore, investments in infrastructure and facilities, as well as favorable regulatory environments, can significantly impact the growth of this market by attracting investments and fostering a favorable business climate. Additionally, the rising middle class and increasing consumer spending power in Cambodia are also contributing to the expansion of the Basketball Market, as more people are able to afford sports activities and related products.
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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