The Sports Market in Ireland has seen limited growth in recent years, influenced by factors such as declining interest in traditional sports and increased competition from emerging sports. This is further compounded by the growing popularity of digital sports platforms and the convenience they offer. Despite this, the market continues to be sustained by a devoted fan base and strong local leagues.
Customer preferences: The Sports market in Ireland has seen a rise in consumer demand for personalized training and fitness solutions, with a focus on utilizing tech-based products and services. This trend is fueled by a growing preference for individualized workout regimens and the convenience of virtual coaching and training. Additionally, the rise of social media and the influence of influencers in the fitness space have also impacted consumer preferences, with an emphasis on aesthetically-driven routines and nutrition plans.
Trends in the market: In Ireland, the Sports Market is seeing a significant shift towards digitalization. This trend is driven by the increasing use of technology in sports, such as wearable devices for tracking performance and analytics. Moreover, there is a growing demand for virtual events and online coaching services. Additionally, the rise of social media and influencer marketing has also impacted the market, with athletes and sports brands leveraging these platforms for promotion and engagement. This trajectory suggests a continued emphasis on digital innovation and a need for industry stakeholders to adapt and leverage technology for growth and success.
Local special circumstances: In Ireland, the Sports Market has been heavily influenced by the countrys rich history and culture of sports, especially in the popular sports of football and rugby. The passion for sports in the country has led to a strong local market for sports merchandise and equipment, with the Irish people known for their love of supporting their local teams. Additionally, Irelands favorable terrain and weather conditions make it a prime destination for outdoor sports and activities, driving demand for equipment and facilities. Furthermore, the governments strong support for sporting events and infrastructure has helped Ireland become a hub for international sporting tournaments, further boosting the local Sports market.
Underlying macroeconomic factors: The Sports Market market in Ireland is heavily influenced by macroeconomic factors such as consumer spending, economic growth, and government policies. Irelands strong economic growth and high consumer confidence have led to increased spending on sports-related products and services. Additionally, government initiatives promoting healthy lifestyles and investing in sports infrastructure have further contributed to the growth of the market. However, the uncertainty surrounding Brexit and potential changes in trade policies could have a negative impact on the market. Overall, the macroeconomic environment in Ireland is expected to support the growth of the Sports Market market in the coming years.
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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