The Sports market in G7 is experiencing minimal growth, as factors such as increasing competition among sub-markets and shifting consumer preferences impact the overall market. Despite this, the popularity of digital technologies, growing health awareness, and convenience of online services are driving growth in sub-markets such as soccer, American football, basketball, baseball, and cricket.
Customer preferences: The Sports Market industry has seen a rise in consumer demand for personalized and connected fitness experiences. This can be attributed to a growing interest in health and wellness, as well as the convenience of remote monitoring and digital coaching options. Additionally, there is a noticeable shift towards sustainable and eco-friendly sports equipment, reflecting a growing trend towards conscious consumption in this market segment.
Trends in the market: In the G7 and Sports Market, there is a growing trend towards incorporating technology and digital solutions in various aspects of the sports industry. This includes the use of virtual and augmented reality for training and immersive fan experiences, as well as the incorporation of data analytics and sports science for performance optimization. These trends not only enhance the overall sports experience for fans and players, but also allow for more efficient and effective operations for sports organizations. This can lead to increased revenue and cost savings, making it a significant trend for industry stakeholders to keep up with. Additionally, as technology continues to evolve and become more accessible, we can expect to see even more innovative solutions being implemented in the Sports market.
Local special circumstances: In Japan, the Sports Market is influenced by the countrys strong focus on traditional sporting activities such as sumo wrestling, judo, and baseball. However, with the upcoming 2020 Olympics, there is a growing interest in Western sports like basketball and soccer. Moreover, Japans aging population has led to a rise in demand for sports products and services focused on improving senior citizens health and wellness. The governments efforts to promote an active lifestyle through initiatives like the Sports for Tomorrow program have also contributed to the growth of the market.
Underlying macroeconomic factors: The Sports Market industry is affected by macroeconomic factors such as consumer spending, economic stability, and government support. Countries with strong economies and high levels of disposable income tend to have a thriving Sports market, as consumers are able to afford tickets, merchandise, and other related goods and services. Fiscal policies that incentivize sports-related investments and infrastructure also contribute to the growth of this market. On the other hand, economic downturns and unstable political climates can lead to decreased consumer confidence and reduced market performance. The Sports market is also impacted by global economic trends, such as the growing popularity of sports in emerging markets and shifting consumer preferences towards health and wellness. These factors present both growth opportunities and challenges for companies operating in the Sports 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.
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