The Cricket market in the Sports Market in Malaysia has a stagnant growth rate, due to the decreasing popularity of the sport and the availability of online streaming services for matches. While Cricket Ticket Sales and Cricket Media have seen a decline, factors such as increasing competition from other sports, limited infrastructure, and lack of government support have hindered the overall growth of the market.
Customer preferences: As Malaysia continues to develop as a leading destination for cricket, there has been an increase in consumer interest and participation in the sport. This is reflected in the growing demand for advanced training and coaching programs, as well as enhanced equipment and gear. Additionally, there has been a noticeable shift towards eco-friendly and sustainable products, with the rise in conscious consumerism among the younger generation. This trend is driven by a growing concern for the environment and a desire to support ethical and environmentally responsible brands.
Trends in the market: In Malaysia, the Cricket Market is experiencing a growth in digital sports platforms, with live streaming and virtual tournaments becoming more popular. In addition, there is a shift towards a more data-driven approach in the sport, with the use of analytics and performance tracking tools. This trend is expected to continue as technology advancements allow for more in-depth analysis and fan engagement. Industry stakeholders such as cricket leagues and teams must adapt to these changes to stay competitive in the market. Moreover, this trend also presents opportunities for sponsors and advertisers to target a more diverse and global audience through online platforms.
Local special circumstances: In Malaysia, cricket may not be the most popular sport, but it has a strong following within the local Indian and Pakistani communities. This reflects the countrys diverse cultural makeup, with a significant presence of South Asians. Additionally, Malaysias tropical climate and large stadium facilities provide an ideal setting for cricket matches. However, there are challenges such as limited funding and government support for the sport. These factors have pushed the cricket market towards commercialization, with leagues and tournaments organized by private entities. This unique mix of cultural and economic factors has led to the development of a niche but growing cricket market in Malaysia, distinct from other countries where the sport may be more mainstream.
Underlying macroeconomic factors: The Cricket Market within the Sports Market in Malaysia is largely impacted by macroeconomic factors such as the countrys overall economic health, global economic trends, fiscal policies, and other financial indicators. The growth and performance of this market is heavily influenced by the countrys economic stability, government policies, and investment in sports infrastructure. Regions with a strong and stable economy, favorable regulatory environment and significant investments in sports have experienced faster growth in the Cricket Market. Moreover, the increasing popularity and demand for cricket in Southeast Asia, along with the rise of various cricket leagues, have also contributed to 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.
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