The Cricket Market in GCC has been steadily declining due to the overall negligible growth rate. Factors such as declining interest in the sport, lack of investment in infrastructure, and competition from other sports have contributed to this trend. These sub-markets of Cricket Media and Cricket Ticket Sales have also been impacted, adding to the challenge of growing the market. However, opportunities for growth still exist, as digital technologies and online services have the potential to attract a new, younger audience and increase convenience for consumers.
Customer preferences: As cricket gains popularity among younger demographics in the GCC, there is a noticeable shift towards incorporating technology and data-driven solutions into the sport. This can be seen in the rise of cricket analytics and the use of video analysis tools for training and strategy development. Additionally, the growing interest in health and fitness among this demographic has resulted in a demand for cricket-specific fitness programs and nutritional supplements. This demonstrates a trend towards utilizing technology in both the training and performance aspects of cricket, as well as emphasizing overall wellness among players.
Trends in the market: In the GCC, the Cricket Market is seeing a rise in the number of digital platforms and apps for streaming live matches, providing real-time match updates, and offering interactive experiences for fans. In addition, there is a growing trend of incorporating data analytics and technology in training and performance analysis for players. These trends have significant implications for stakeholders, as they cater to the growing fan base and enhance the overall viewing experience. This could also lead to increased revenue and sponsorship opportunities for teams and leagues.
Local special circumstances: In the GCC region, the Cricket Market within the Sports Market has a strong presence and significant growth potential due to the regions passion for the sport. Additionally, the hot and dry climate conditions in the region make it ideal for outdoor cricket matches and training. In contrast, in other markets such as Europe, where the climate is more temperate, indoor facilities are more common. This unique factor in the GCC region drives the demand for cricket-specific infrastructure and facilities, as well as the popularity of cricket as a spectator sport. Moreover, the cultural influence of traditional and colonial ties with cricket-playing nations like India and Pakistan further fuels the growth of the cricket market in the GCC region.
Underlying macroeconomic factors: The GCC and Cricket Market within the Sports Market are greatly impacted by macroeconomic factors such as economic stability, government policies, and technological advancements. With the GCC countries being major oil producers, fluctuations in global oil pricing significantly affect the purchasing power of consumers in the region. Additionally, favorable government policies and investments in sports industry infrastructure, such as stadiums and training facilities, contribute to the growth of the Cricket Market. Furthermore, the increasing popularity of digital media and technologies in the sports industry, such as live streaming and online ticket sales, are driving the growth of the Cricket 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.
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