Cricket - Nordics | Statista Market Forecast

Cricket - Nordics

Nordics

Highlights

Revenue in the Cricket market is projected to reach US$3.69m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.33%, resulting in a projected market volume of US$3.95m 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$9.85 in 2024.
In the Cricket market, the number of users is expected to amount to 400.3k users by 2029.
User penetration in the Cricket market will be at 1.3% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket market in the Nordics has seen a slight decline in growth rate due to a decrease in consumer interest and ticket sales. However, the market is still driven by factors such as digital media adoption, increasing popularity of the sport, and the convenience of online ticket sales. These factors have contributed to the markets overall minimal decline in growth, indicating a strong potential for future growth opportunities in the Cricket market in the Nordics.

Customer preferences: As the popularity of cricket continues to grow in the Nordics, there has been a noticeable increase in consumption of live game streams and online betting services. This shift towards digital platforms is also seen in the rise of e-sports, with younger demographics favoring virtual cricket tournaments and leagues. Additionally, there is a growing demand for personalized cricket training and coaching programs, highlighting a shift towards a more individualized and tailored approach to the sport.

Trends in the market: In the Nordics, the Cricket market is seeing a steady increase in popularity, with more organized leagues and tournaments being established. In terms of trends, there is a rising interest in incorporating technology and data analysis into the sport, with the use of performance tracking devices and analytics software. This trend is expected to continue and play a significant role in enhancing player performance and fan engagement. Additionally, there is also a growing focus on promoting diversity and inclusion within the sport, with initiatives and programs being introduced to encourage and support players from diverse backgrounds. These trends not only have the potential to revolutionize the Cricket market in the Nordics but also present opportunities for stakeholders to tap into new and diverse consumer segments.

Local special circumstances: In the Nordics, the Cricket Market has seen a rise in popularity due to the regions strong connection to British culture and history. This has created a niche market for cricket fans, with tournaments and clubs catering specifically to this audience. Additionally, the strict regulations on alcohol consumption in some Nordic countries have led to the rise of alcohol-free spectator events in cricket, making it a more family-friendly sport. The unique geographical location of these countries also allows for cold weather versions of the sport, such as ice cricket, enhancing its appeal to a wider audience. These factors continue to shape the dynamics of the Cricket Market in the Nordics.

Underlying macroeconomic factors: The Cricket Market in Nordics is impacted by macroeconomic factors such as economic stability, consumer spending patterns, and governmental support. Favorable economic conditions foster an environment for growth in the sports industry, leading to an increase in demand for cricket. Moreover, government initiatives to promote sports and investment in cricket infrastructure also contribute to market growth. Additionally, the rise in disposable incomes in the region has led to increased expenditure on leisure activities, including watching and participating in cricket matches. These overarching macroeconomic factors are expected to play a crucial role in shaping the future of the Cricket Market in Nordics.

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.