The Basketball Market in Montenegro is currently experiencing slow growth, influenced by factors such as the limited reach of Basketball Media, low demand for Basketball Merchandise, and high ticket prices impacting Basketball Ticket Sales. Despite efforts to boost the market, low interest in the sport and a lack of advertising investment are hindering its growth.
Customer preferences: As the popularity of online streaming rises, more consumers in Montenegro are turning to digital platforms for access to live basketball games. This trend is driven by convenience and the desire for real-time updates on game scores and player statistics. Furthermore, the increasing prevalence of smartphones and social media usage among younger demographics has created a demand for interactive and immersive fan experiences, such as virtual reality game streaming and social media engagement with players and teams.
Trends in the market: In Montenegro, the Basketball Market is experiencing a surge in popularity among younger demographics, with an increasing number of children and teenagers participating in organized leagues and training programs. In line with this trend, there has been a growing demand for high-quality coaching and training services, as well as for state-of-the-art facilities and equipment. This presents significant opportunities for industry stakeholders, such as sports equipment manufacturers and training academies. Moreover, this trend is expected to have positive implications for the overall growth of the Sports market in Montenegro, as it cultivates a culture of physical activity and competition among the youth.
Local special circumstances: In Montenegro, the Basketball Market is heavily influenced by its geographical location. Being a small country with a population of around 600,000, the market is limited compared to other European countries. However, the countrys strong love for sports and natural talent in basketball drives its success in the sport. Additionally, Montenegros accession to the European Union has opened up opportunities for foreign investment in the Basketball Market, leading to the establishment of more professional clubs and development of youth programs. These unique local factors play a significant role in shaping the dynamics of the Basketball Market in Montenegro.
Underlying macroeconomic factors:
The growth of the Basketball Market within the Sports Market in Montenegro is greatly affected by macroeconomic factors such as the countrys GDP, inflation, and government policies. Montenegros stable economy and increasing GDP have led to strong consumer spending on sports, particularly basketball. Additionally, the governments focus on promoting sports and building modern sporting facilities has created a conducive environment for growth in the basketball market. The increasing interest and participation in basketball among the young population also contribute to the overall market growth. However, economic challenges such as high unemployment rates and limited disposable income can hinder the growth of the basketball market in Montenegro. Other macroeconomic factors such as technological advancements, international trade, and consumer confidence also play a significant role in shaping the performance and growth of the basketball market in Montenegro.
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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