The Sports Market in Israel has seen modest growth in its Basketball sector, influenced by the increasing popularity of digital technologies, growing interest in health and fitness, and the convenience of online services. However, the markets growth rate remains minimal due to challenges such as declining ticket sales and shifting consumer preferences towards merchandising.
Customer preferences: Consumers in the Basketball Market within the Sports Market in Israel are increasingly seeking personalized and tech-savvy experiences, fueled by a rise in digital natives and a growing emphasis on health and wellness. This has led to a growing demand for personalized training programs, fitness apps, and virtual reality training tools. Additionally, there is a growing trend towards embracing diverse and inclusive representation in the sport, with a focus on promoting gender equality and breaking cultural barriers.
Trends in the market:
In Israel, the Basketball market has seen a significant increase in the use of advanced analytics and technology. This trend is expected to continue as teams and players seek to gain a competitive advantage. With the use of data-driven insights and performance tracking techniques, coaches and players can analyze their strengths and weaknesses, leading to improved training methods and on-court success. Moreover, the integration of virtual reality technology in training sessions has shown promising results, allowing players to hone their skills in a simulated game environment. These developments have the potential to revolutionize the way basketball is played and coached in Israel, providing an edge in the global market. Industry stakeholders, including teams, players, and technology providers, will need to adapt to these changes to stay ahead of the competition.
Local special circumstances: In Israel, the Basketball Market is heavily influenced by the countrys passion for the sport, stemming from its cultural ties to America. In addition, the small geographical size of Israel has led to a tight-knit community and a high level of competition among basketball players. Furthermore, the Israeli government has invested heavily in promoting and developing the sport, resulting in a highly skilled and competitive national team. This unique combination of factors creates a fast-paced, exciting, and competitive basketball market in Israel.
Underlying macroeconomic factors: The Basketball Market within the Sports Market in Israel is influenced by macroeconomic factors such as the countrys national economic health and fiscal policies. The stability and growth of Israels economy contribute to the markets performance and potential for expansion. Additionally, global economic trends and investments in the sports industry also affect the growth of the Basketball Market in Israel. As the economy continues to recover and thrive post-pandemic, the demand for sports entertainment and activities, including basketball, is expected to increase. Furthermore, investments in infrastructure and facilities for basketball, as well as potential endorsements and sponsorships, can also play a significant role in boosting the markets growth in Israel.
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)
