Cricket - South America

South America

Highlights

Revenue in the Cricket market is projected to reach US$5.22m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.24%, resulting in a projected market volume of US$5.55m 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$2.83 in 2024.
In the Cricket market, the number of users is expected to amount to 1.9m users by 2029.
User penetration in the Cricket market will be at 0.4% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket Market in South America has seen a decline in growth rate, driven by a plethora of factors such as the saturation of the market, lack of innovation and technological advancements, and limited consumer awareness. Despite the popularity of the sport, the sub-markets of Cricket Media and Cricket Ticket Sales have not been able to drive overall growth in the region due to the absence of competitive pricing and modernized strategies.

Customer preferences: With the growing popularity of international cricket tournaments and leagues in South America, there has been a notable increase in the demand for cricket merchandise, including jerseys and equipment. This trend can be attributed to the growing popularity of the sport among young demographics in the region. Furthermore, the rise of e-commerce platforms and online marketplaces has made it easier for consumers to access and purchase products from international cricket brands, contributing to the growth of the market.

Trends in the market: Currently, the Cricket Market in South America is seeing a growth in fan engagement through digital platforms. With the increasing popularity of mobile devices in the region, sports leagues and teams are leveraging social media and mobile apps to reach and connect with fans. This trend is expected to continue, with the potential for virtual and augmented reality experiences in the future. For industry stakeholders, this trend presents opportunities to expand their reach and engagement with a wider audience. Additionally, it highlights the importance of staying updated with digital marketing strategies and technology to remain competitive in the Sports market in South America.

Local special circumstances: In South America, the Cricket Market within the Sports Market industry faces unique challenges and opportunities. The regions diverse terrain and climate make it an ideal market for the sport, attracting a passionate fan base. However, cultural differences, such as a preference for football and baseball, have hindered the growth of cricket in some countries. Additionally, varying regulations and infrastructure in different countries have also impacted the development of the market. For example, Brazil has a large expat community from cricket-playing countries, leading to a demand for the sport. However, other countries in the region may not have the same level of awareness and accessibility to the sport. These factors play a crucial role in shaping the dynamics of the Cricket Market in South America.

Underlying macroeconomic factors: The Cricket Market within the Sports Market in South America is influenced by macroeconomic factors such as overall economic growth, government policies, and consumer spending. With an improving global economy, the South American market is witnessing a growing demand for sports and recreational activities, including cricket. Moreover, favorable government initiatives to promote sports and increase infrastructure investment are further bolstering the market. Additionally, with an increasing interest in sports and a growing middle-class population, there is a rise in disposable income, leading to higher spending on sports-related activities.

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.