Basketball - Western Africa | Statista Market Forecast

Revenue in the Basketball market is projected to reach US$18.99m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.60%, resulting in a projected market volume of US$17.52m 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$10.21 in 2024.
In the Basketball market, the number of users is expected to amount to 1.9m users by 2029.
User penetration in the Basketball market will be at 0.4% 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 Western Africa has shown a stagnant growth rate, attributed to factors such as lack of media coverage, limited availability of merchandise, and high ticket prices. However, with increasing popularity and participation in the sport, an uptick in growth is expected in the near future.

Customer preferences: As the popularity of basketball continues to grow in Western Africa, there has been a noticeable increase in the demand for personalized and high-performance sports gear. Consumers are now looking for products that not only offer comfort and durability, but also reflect their cultural heritage and traditions. This shift towards culturally relevant and authentic products has led to collaborations between local brands and international sports giants, catering to the evolving preferences of the African basketball market. Alongside this, the rise in social media and influencer culture has also influenced consumer preferences, with individuals seeking to emulate the style and trends of their favorite players on and off the court.

Trends in the market: In Western Africa, the Basketball Market is experiencing a surge in popularity, with a growing number of fans and players. This trend can be attributed to the increased investment in infrastructure and training programs by both local governments and international organizations. As the sport gains more recognition, there is a rise in demand for merchandise and broadcasting rights. This provides significant opportunities for industry stakeholders, such as sponsors and broadcasters, as they tap into this growing market. Moreover, with the advancements in technology, there is a potential for online streaming and interactive fan experiences, creating a new revenue stream for the industry. By capitalizing on these trends, the Basketball Market in Western Africa has the potential to become a major player in the global Sports market.

Local special circumstances: In Western Africa, the Basketball market is heavily influenced by the regions strong passion for the sport. With a lack of professional leagues, street basketball and local amateur tournaments dominate the scene. This creates a unique market where local brands and grassroots organizations hold significant influence. Additionally, the hot and dry climate in the region limits the popularity of outdoor basketball, leading to a greater focus on indoor facilities and special events. The cultural significance of basketball in Western Africa also drives a strong sense of community and social impact, making it a popular platform for brands to connect with the local population.

Underlying macroeconomic factors: The Basketball Market within the Sports Market is heavily influenced by macroeconomic factors in Western Africa. The regions economic growth, fiscal policies, and global economic trends play a significant role in the demand and growth of the basketball market. Moreover, national economic health and government initiatives to promote sports and physical activity also impact the market performance in this region. With increasing investments in sports infrastructure and rising awareness about health and fitness, the basketball market in Western Africa is expected to experience significant growth in the coming years.

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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