Cricket - Norway | Statista Market Forecast

Cricket - Norway

Norway

Highlights

Revenue in the Cricket market is projected to reach US$880.30k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.20%, resulting in a projected market volume of US$981.40k 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$11.48 in 2024.
In the Cricket market, the number of users is expected to amount to 88.0k users by 2029.
User penetration in the Cricket market will be at 1.4% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket market in Norway is facing a slight decline in growth rate due to factors such as limited popularity among the general public, low media coverage, and high ticket prices. However, the use of digital technologies and increasing health consciousness among consumers could drive the markets growth in the future. This is especially true for the sub-markets of Cricket Media and Cricket Ticket Sales, where online platforms and promotions can attract a larger audience and offer more convenient services.

Customer preferences: The rise of online streaming platforms has significantly impacted the Cricket Market within the Sports Market, as more consumers are turning to live streaming services to access cricket matches and tournaments. This trend has been fueled by the increasing use of smartphones and the availability of high-speed internet. Additionally, the growing popularity of fantasy cricket leagues and online betting platforms has also contributed to the surge in demand for digital access to cricket events. This shift towards digital consumption is expected to continue as consumer preferences continue to evolve towards on-demand and convenient forms of entertainment.

Trends in the market: In Norway, the Cricket Market within the Sports Market is seeing a rise in popularity among younger demographics, thanks to an increase in access to international tournaments and leagues through online streaming platforms. At the same time, there is a growing trend of incorporating technology and data analytics into training and performance analysis for both players and coaches. This trend is expected to continue, providing new opportunities for technology and data companies to enter the market and offer innovative products and services. Additionally, the use of social media to engage with fans and promote the sport is also gaining momentum, allowing for a broader reach and potential for increased revenue for industry stakeholders. As the popularity of cricket continues to grow, we can expect to see an increase in investment and partnerships in the market, further solidifying its position in the sports industry.

Local special circumstances: In Norway, the Cricket Market has yet to reach the same level of popularity as other Sports markets due to the countrys strong focus on winter sports. However, with the growing diversification of the population and an increasing interest in sports from South Asian immigrants, there is potential for growth. Additionally, the strict regulations around advertising regarding sports betting and alcohol also impact the development of the Cricket Market within the Sports Market in Norway. This unique regulatory landscape creates challenges and opportunities for businesses operating in this sector, shaping the market dynamics for Cricket.

Underlying macroeconomic factors: The growth of the Cricket Market within the Sports Market is greatly impacted by macroeconomic factors such as consumer spending trends, population demographics, and government policies. Countries with a high interest in cricket and a large population of enthusiastic fans tend to have more success in the cricket market. Additionally, investments in infrastructure and facilities, as well as favorable policies promoting sports development, can greatly influence the growth of the market. On the other hand, countries with economic instability or low interest in sports may struggle to see growth in their cricket market. The overall economic health and consumer spending habits of a country can also play a significant role in the success of the cricket market, as a strong economy and high levels of disposable income can lead to increased participation and investment in the sport.

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.