Cricket - Chile | Statista Market Forecast

Cricket - Chile

Chile

Highlights

Revenue in the Cricket market is projected to reach US$548.20k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.44%, resulting in a projected market volume of US$588.80k by 2029.
In global comparison, most revenue will be generated India (US$2.27bn in 2024).
The average revenue per user (ARPU) in the Cricket market is projected to amount to US$5.02 in 2024.
In the Cricket market, the number of users is expected to amount to 116.3k users by 2029.
User penetration in the Cricket market will be at 0.6% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Cricket market in Chile has seen minimal growth recently due to factors such as lack of awareness and accessibility, as well as declining interest in traditional sports. The sub-markets of Cricket Media and Ticket Sales have also been impacted, resulting in a overall slow market growth.

Customer preferences: With the increasing popularity of outdoor sports and activities, there has been a growing interest in adventure sports like cricket in Chile. This trend is particularly evident among the younger population, who are seeking more immersive and adrenaline-fueled experiences. As a result, there has been a surge in demand for high-quality cricket gear and equipment. This also reflects the changing lifestyle and preferences of consumers who prioritize experiences and socialization through sports and outdoor activities, rather than traditional forms of entertainment.

Trends in the market: In Chile, the Cricket Market within the Sports Market is experiencing a surge in popularity, with more people participating in the sport and greater support from the government to promote it. Additionally, there is a growing trend of using digital platforms for cricket training and competitions, making it more accessible for both players and enthusiasts. This trend is expected to continue in the coming years, leading to increased engagement and revenue opportunities for industry stakeholders. However, it also poses challenges for traditional cricket clubs and organizations, who may need to adapt to the changing landscape in order to remain relevant and competitive in the market.

Local special circumstances: In Chile, the Cricket Market is still in its early stages of development due to the countrys lack of exposure to the sport compared to other South American countries. However, with a growing interest in sports and the countrys strong economy, the market is expected to experience significant growth in the coming years. The key differentiating factor in Chiles Cricket Market is its geographical location, as it is one of the few countries on the continent with a temperate climate, allowing for year-round play. Additionally, the strong influence of European and North American culture in Chile makes it a prime market for popular sports like cricket to gain traction. However, the market is also impacted by strict regulations on immigration, limiting the influx of foreign players and potential growth opportunities.

Underlying macroeconomic factors: The Cricket Market within the Sports Market in Chile is influenced by macroeconomic factors such as the countrys economic stability, government policies, and investment in infrastructure. The overall economic health of Chile and its relationship with global economic trends can impact the performance of the Cricket Market. Additionally, fiscal policies and financial indicators, such as consumer spending and disposable income, can also play a role in shaping the market. The growth of the middle class in Chile and their increasing disposable income has led to an increase in demand for sports and recreational activities, including cricket, further driving the growth of the market.

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.