Basketball - Taiwan | Statista Market Forecast

Revenue in the Basketball market is projected to reach US$7.66m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.41%, resulting in a projected market volume of US$6.44m by 2029.
In global comparison, most revenue will be generated United States (US$9.54bn in 2024).
The average revenue per user (ARPU) in the Basketball market is projected to amount to US$7.33 in 2024.
In the Basketball market, the number of users is expected to amount to 1.2m users by 2029.
User penetration in the Basketball market will be at 4.4% in 2024.

Definition:

The Basketball Market encompasses various facets of the sport, including media coverage, ticket sales, and merchandise, catering to the extensive global fanbase of basketball. It includes platforms and channels dedicated to delivering news, analysis, and entertainment related to basketball events worldwide, as well as the sale of tickets for live basketball games and various basketball-related merchandise.

Structure:

Basketball Media: This segment includes revenues from television and online streaming rights for basketball games, providing fans with access to live coverage and analysis.
Basketball Ticket Sales: This segment comprises revenues from the sale of tickets for basketball games held in arenas, online ticketing platforms facilitating ticket purchases, and season ticket packages.
Basketball Merchandise: This segment encompasses revenues from the sale of various basketball-related products and merchandise, such as team jerseys, basketballs, apparel, and memorabilia, allowing fans to showcase their support for their favorite teams and players.

Additional information:

Key metrics within the Basketball Market include revenues, viewers, ticket sales volumes, merchandise sales volumes, and market penetration rates. Revenue streams primarily come from advertising, subscription fees, ticket sales, merchandise sales, and sponsorship deals. Data on broadcasting rights, online viewership, ticketing platforms, popular merchandise items, and fan preferences are essential for understanding market dynamics. Key players in the Basketball Market include broadcasting networks, basketball teams, sports apparel brands, ticketing agencies, and online marketplaces.

For more detailed insights, refer to the additional information provided next to the respective data points.

Ticket sales from games, such as league games
Revenue from merchandise, such as jerseys
Revenue from media rights, such as TV broadcasting

Revenue from player transfers, such as transfer fees
Tickets sold on the secondary market, such as on eBay
Revenue from licensing or sponsorship, such as from logos

The Basketball market in Taiwan has been experiencing slow growth, impacted by various factors such as low consumer interest, limited media coverage, and saturated merchandise market. Despite the convenience of online ticket sales, physical attendance at games remains the primary revenue source. The overall negligible growth rate suggests a need for innovation and diversification in the marketing strategies of sub-markets to drive growth in the future.

Customer preferences: Taiwanese consumers are increasingly favoring virtual and interactive experiences in the Basketball Market. This includes live streaming of games, online gaming tournaments, and interactive training programs. This trend can be attributed to the lifestyle shifts brought on by the pandemic, where individuals are turning to online platforms for entertainment and physical activity. Additionally, with the prevalence of smartphones and high-speed internet, accessing these virtual experiences has become more convenient and accessible for consumers. This has led to a surge in market demand for digital products and services related to the Basketball Market.

Trends in the market: In Taiwan, the Basketball Market has seen a surge in popularity among youth, with more schools and organizations focusing on developing young talent. This trend is expected to continue as the country turns its focus towards investing in sports development and fostering a culture of athleticism. With this growth, the demand for high-quality basketball equipment and training programs is also increasing. As a result, industry stakeholders such as sports brands and organizations are investing resources in the development and promotion of basketball in Taiwan. This trend shows promising potential for the growth of the Sports Market in Taiwan and presents opportunities for stakeholders to capitalize on the increasing interest in basketball.

Local special circumstances: In Taiwan, the Basketball Market within the Sports Market is heavily influenced by the islands love for sports, particularly basketball, as it is considered the national sport. This has led to a strong demand for basketball-related products and services, creating a thriving market for sports equipment, apparel, and accessories. Furthermore, Taiwans geographical location as a major hub for international trade also plays a significant role in the markets dynamics, allowing for easy access to global brands and technologies. Moreover, the governments support for sports development and investment in state-of-the-art facilities further strengthens the markets growth. Additionally, Taiwans unique cultural influences, such as the popularity of professional leagues and celebrity athletes, contribute to the markets popularity and profitability.

Underlying macroeconomic factors: The Basketball Market in Taiwan is largely influenced by macroeconomic factors such as the countrys overall economic health, government policies, and consumer spending habits. As Taiwan continues to experience steady economic growth, consumers are more willing to spend on sports and recreation, including basketball. Moreover, the government has been actively promoting the sports industry, leading to increased investment in infrastructure and facilities. This, coupled with favorable policies and regulations, has created a supportive environment for the growth of the Sports market, including basketball. Additionally, as Taiwans population ages, there is a growing demand for sports and physical activity in order to maintain good health, which further contributes to the markets growth. Overall, the positive macroeconomic conditions in Taiwan are a key driver of the basketball markets performance in the country.

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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