The Sports Market in Israel is facing slow growth due to factors such as low interest in traditional sports, increased popularity of esports and extreme sports, and the limited availability of sports facilities. However, rising health awareness and the convenience of online services are expected to drive growth in the future.
Customer preferences: Consumers in Israel have been increasingly utilizing digital solutions for their fitness and wellness needs, including the use of wearable devices and health tracking apps. This trend has been driven by a growing interest in health and wellness, as well as a desire for convenient and efficient solutions. Additionally, the aging population in Israel has led to a rise in demand for remote monitoring and management of chronic conditions, further fueling the adoption of digital health solutions in the Sports Market market.
Trends in the market:
In Israels Sports Market, there is a current trend towards integrating technology and data analytics into training and performance. This trend can be seen in the increasing use of wearable technology, such as fitness trackers and smart clothing, to monitor athletes performance and gather real-time data on their movements and vitals. Additionally, there is a growing adoption of virtual and augmented reality training programs to enhance athletes skills and simulate game situations. These trends demonstrate the industrys focus on utilizing technology to improve performance and gain a competitive edge. Moreover, this trajectory towards advanced data-driven training methods has significant implications for industry stakeholders, including coaches, teams, and sports equipment manufacturers, who will need to adapt and invest in these technologies to remain relevant and meet the demands of modern-day athletes.
Local special circumstances: In Israel, the Sports Market is greatly influenced by the countrys love for sports and active lifestyle. It is also shaped by the countrys small size and dense population, resulting in a highly competitive market. Additionally, the countrys unique geopolitical situation and cultural background play a significant role in shaping consumer preferences and the business landscape. The Israeli governments support for sports and its investment in developing world-class athletes further contribute to the dynamism of the market.
Underlying macroeconomic factors:
The Sports Market in Israel is greatly impacted by macroeconomic factors such as the countrys overall economic health, government policies, and global economic trends. In recent years, Israel has experienced a strong economy with a steady GDP growth and low unemployment rates. This has resulted in a growing consumer base with increased spending power for sports-related products and services. Furthermore, the Israeli government has implemented policies to support and promote the growth of the sports industry, including tax incentives and investments in sports infrastructure. These factors have contributed to the overall growth and development of the Sports market in Israel, making it an attractive market for local and international players. Additionally, the global trend towards health and fitness has also influenced the Sports market in Israel, leading to an increase in demand for sports products and services.
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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