The Cricket Market in BRICS has witnessed marginal growth, attributed to factors such as the increasing use of digital technologies in the sport, rising popularity of cricket among consumers, and the convenience of purchasing tickets online. However, the overall growth rate is impacted by the decline in growth of sub-markets like Cricket Media and Ticket Sales, due to factors such as the COVID-19 pandemic and the rise of alternative entertainment options.
Customer preferences: The rise of online streaming platforms has made it easier for cricket fans in BRICS countries to watch live matches and access exclusive content. As a result, there has been a significant increase in demand for digital viewing experiences and virtual fan engagement initiatives. This trend is also fueled by the growing influence of social media and the desire for personalized and interactive experiences among younger demographics. Additionally, the integration of technology in cricket stadiums, such as live score updates and interactive displays, has enhanced the overall fan experience.
Trends in the market: In the BRICS countries, the Cricket Market within the Sports Market is experiencing a surge in popularity, with a growing fan base and increased investment in the sport. This trend is particularly evident in India and South Africa, where cricket is a national obsession. With the rise of digital media, cricket matches are now accessible to a global audience, leading to increased revenue opportunities for broadcasters and sponsors. Furthermore, there is a rise in the use of technology in cricket, from player performance analysis to fan engagement through social media platforms. This trend is expected to continue, with potential implications for industry stakeholders, including increased revenue potential and competition for broadcasting rights. Additionally, advancements in technology are expected to enhance the overall fan experience, further driving the growth of the cricket market within the sports industry.
Local special circumstances: In BRICS, the Cricket Market has a strong foothold due to the historical and cultural significance of the sport in the region. In India, cricket is a major pastime and considered a national obsession. This has led to the emergence of a thriving market for cricket merchandise, live streaming, and fantasy cricket leagues. In Brazil, cricket is still a niche sport, but with the countrys recent success in international tournaments, interest in the game is growing. The unique mix of local passion and international success in these markets sets the stage for potential growth and innovation in the cricket market within the Sports market.
Underlying macroeconomic factors: The Cricket Market within the Sports Market is heavily influenced by macroeconomic factors such as the overall economic health and stability of the BRICS countries, as well as global economic trends and fiscal policies. These factors impact the purchasing power of consumers and their ability to invest in sporting events and merchandise. Additionally, government policies and regulations surrounding sports and tourism also play a significant role in shaping the market. The increasing popularity of cricket in emerging economies and the rise of middle-class incomes in these countries are also driving the demand for better infrastructure and facilities for the sport.
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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