The Sports market in Eastern Asia is experiencing minimal growth, impacted by various factors such as limited access to sports facilities and a decline in interest in traditional sports. Additionally, the presence of e-sports and rising demand for individualized fitness options may be contributing to the slow overall growth rate. However, with a large market potential and increasing government support for sporting events, the Eastern Asian Sports market could see potential for future growth.
Customer preferences: As the popularity of eSports continues to soar among young consumers in Eastern Asia, traditional sports such as baseball and soccer are facing declining interest. This can be attributed to changing cultural preferences and the rise of digital and virtual forms of entertainment. In response, sports organizations are leveraging technology to engage fans through immersive experiences and virtual events. This trend towards digital engagement is also driven by the increasing adoption of mobile devices and social media platforms among the regions tech-savvy population.
Trends in the market:
In Eastern Asia, the Sports Market market is experiencing a rise in virtual sports events due to the ongoing pandemic. Major sports leagues in the region have turned to livestreaming and digital platforms to engage with fans and generate revenue. Additionally, there is a growing trend of incorporating technology into sports training and performance analysis, with wearable technology and data analytics being utilized by teams and athletes. These developments highlight the increasing demand for remote and digital offerings within the sports industry. As such, industry stakeholders should consider investing in and adapting to these trends in order to remain competitive in the market.
Local special circumstances: In China, the Sports market is heavily influenced by the countrys love for team sports, particularly basketball and soccer. This is also driven by the cultural emphasis on physical fitness and participation in sports as a means to achieve success and prestige. The unique geographical landscape of China, with its vast rural areas and urban centers, creates a diverse market for sports products and services. Additionally, Chinas strict government regulations on sports industry investments and partnerships ensure a controlled and competitive market.
Underlying macroeconomic factors: The Sports Market in Eastern Asian countries is heavily influenced by macroeconomic factors such as the overall economic growth, government policies, and consumer spending. With the rising disposable income of the middle class population and the growing trend of sports and fitness among the youth, the market is expected to witness significant growth. However, economic slowdowns, fluctuations in currency exchange rates, and political instability can affect consumer confidence and spending, thereby impacting the overall market performance. Moreover, factors such as increasing urbanization, changing lifestyle, and technological advancements are also influencing the growth of the Sports Market in Eastern Asia. These factors are driving the demand for sports and fitness products and services, opening up opportunities for key players in the market to expand their market presence and capture a larger share 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
