Cricket - NAFTA | Statista Market Forecast

Cricket - NAFTA

NAFTA

Highlights

Revenue in the Cricket market is projected to reach US$95.62m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.88%, resulting in a projected market volume of US$104.90m 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$15.80 in 2024.
In the Cricket market, the number of users is expected to amount to 6.3m users by 2029.
User penetration in the Cricket market will be at 1.2% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket market in NAFTA is facing a negligible decline in growth due to various factors. These include a decreasing interest in traditional Cricket media platforms and lower ticket sales as live Cricket events are impacted by the COVID-19 pandemic. However, the market is still driven by the increasing popularity of digital technologies, the growing awareness of health benefits through playing Cricket, and the convenience of online ticket purchases.

Customer preferences: The popularity of fantasy sports, such as fantasy cricket leagues, has been on the rise in recent years, with more and more consumers turning to these platforms for entertainment and engagement with their favorite sports. This trend is also indicative of a growing interest in data-driven and interactive experiences, where users can actively participate in and personalize their involvement with a sport. Additionally, the growing fan base for cricket in North America, due to the increasing diversity and multiculturalism in the region, highlights the potential for the sport to gain traction in the NAFTA market.

Trends in the market: In the North American Free Trade Agreement (NAFTA) region, the Cricket Market within the Sports Market is experiencing a surge in popularity, with more people showing interest and participation in the sport. This trend is also reflected in the growing number of amateur leagues and tournaments being organized. In addition, there has been an increase in investments and sponsorships in cricket, particularly from large corporations. This indicates a growing interest and potential for further growth in the market. However, the trend also poses a challenge for traditional sports like baseball and football, which may face competition for viewership and revenue. As a result, industry stakeholders need to stay updated with the changing landscape and adapt their strategies to capitalize on the opportunities presented by this trend. They may also need to consider partnerships and collaborations to leverage the rising popularity of cricket.

Local special circumstances: In the NAFTA region, the Cricket Market within the Sports Market is greatly influenced by the local popularity of the sport, particularly in the United States, Canada, and Mexico. Due to the geographic location of these countries, cricket has not been historically as popular as other sports. However, the diverse cultural backgrounds of many residents and the growth of immigrant populations have led to an increase in interest and participation in cricket. This has resulted in the development of local leagues and tournaments, tailored to the unique preferences and needs of each countrys population. Additionally, differing regulatory systems and funding opportunities have also played a significant role in shaping the dynamics of the Cricket Market in the NAFTA region.

Underlying macroeconomic factors: The growth of the Cricket Market within the Sports Market is also heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant indicators. Countries with stable and growing economies are witnessing a surge in consumer spending on sports and leisure activities, including cricket. Additionally, the increasing popularity of the sport in developing countries and the rise of professional cricket leagues have also contributed to the growth of the market. However, countries with economic challenges and weak consumer purchasing power may experience slower market growth. Furthermore, government policies and regulations, such as import and export duties, also impact the overall market performance.

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.