The Sports Market in EAEU is experiencing moderate growth, with Basketball being one of its sub-markets. Factors such as increased media coverage, fan engagement through merchandise, and rising ticket sales are driving this growth. However, facing challenges such as varying levels of interest and competition from other sports, the markets growth rate remains minimal.
Customer preferences:
Consumers within the Basketball Market in the Sports Market are increasingly looking for ways to engage with the sport beyond just watching games. The rise of social media and digital platforms has allowed for more interactive and personal experiences with teams and players. This has resulted in a growing demand for behind-the-scenes content, player and team merchandise, and online communities centered around the sport. As a result, the basketball industry has seen a shift towards a more fan-driven, user-generated content approach, as well as an increase in personalized and customizable products. This trend is likely to continue as younger generations actively seek out unique and personalized experiences in their engagement with sports.
Trends in the market: In the EAEU, the basketball market is experiencing a rise of interest from consumers and investors, resulting in increased investments and collaborations among key players. This trend is driven by the regions growing interest in sports and a strong fan base for basketball. Additionally, there is a shift towards more innovative and high-tech solutions within the basketball market, such as the use of advanced analytics and virtual reality training programs. These trends are significant as they have the potential to drive growth and innovation for the industry. However, there may also be implications for smaller and traditional basketball businesses who may struggle to keep up with these developments. As such, industry stakeholders must stay informed and be open to embracing technological advancements to remain competitive in the evolving basketball market.
Local special circumstances:
In the EAEU, the Basketball Market within the Sports Market is heavily influenced by a strong culture of sports and physical fitness. With basketball being a popular sport in this region, there is a high demand for related products and services. Additionally, the EAEU countries have varying levels of economic development, which affects the affordability and accessibility of basketball products and services. For instance, wealthier countries such as Russia and Kazakhstan have a higher demand for premium basketball equipment, while less developed countries like Armenia and Kyrgyzstan have a higher demand for affordable options. Furthermore, there are different regulations and policies in each country that impact the development of the basketball market, such as import tariffs and licensing requirements for international brands.
Underlying macroeconomic factors: The Basketball Market within the Sports Market is significantly impacted by macroeconomic factors such as consumer spending, investment in sports infrastructure, and global economic trends. Countries with strong economic growth and a robust sports culture are experiencing a surge in basketball market demand, while regions with economic challenges and limited sports investments are struggling to maintain steady market growth. Additionally, the popularity of basketball among younger demographics and the increasing number of international tournaments are also contributing to the overall growth of the market.
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)
