Market Insights Advertising & Media Sports

Soccer - Ghana

Ghana

Revenue in the Soccer market is projected to reach US$8.56m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.65%, resulting in a projected market volume of US$8.84m by 2029.
In global comparison, most revenue will be generated in the United Kingdom (US$9,696.00m in 2024).
The average revenue per user (ARPU) in the Soccer market is projected to amount to US$17.66 in 2024.
In the Soccer market, the number of users is expected to amount to 0.5m users by 2029.
User penetration in the Soccer market will be at 1.4% in 2024.

Market

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Analyst Opinion

The Soccer Market in Ghana has been experiencing minimal growth, influenced by factors such as limited digital presence in the sub-markets of media, merchandise, and ticket sales, as well as low consumer interest in online soccer services. This is compounded by the dominance of traditional modes of consuming soccer in the country.

Customer preferences: In recent years, there has been a notable increase in the adoption of e-sports in the Ghanaian soccer market. With the rise of technology and the widespread use of social media platforms, consumers are showing a growing interest in watching and participating in organized video game competitions. This trend is particularly popular among younger demographics, who value the convenience and accessibility of virtual events. Additionally, the integration of virtual and augmented reality technologies into the soccer experience has brought a new level of excitement and engagement for fans and players alike.

Trends in the market: In Ghana, the Soccer Market within the Sports Market is experiencing growth in the adoption of digital platforms for fan engagement and online ticket sales. Furthermore, there is an increasing use of data analytics to improve player performance and strategic decision making. This trend also extends to the market for sports merchandise, with the popularity of e-commerce platforms and social media influencers driving sales. As the industry continues to embrace digitalization, there is potential for greater revenue generation and fan engagement opportunities. This also presents opportunities for industry stakeholders to collaborate with technology companies and leverage emerging trends to stay competitive.

Local special circumstances: In Ghana, the Soccer Market within the Sports Market is heavily influenced by the countrys strong soccer culture and love for the sport. This can be seen in the various local and regional tournaments held throughout the year, drawing large crowds and creating a high demand for soccer merchandise and products. Additionally, Ghanas geographical location and tropical climate make it an ideal location for hosting international soccer events, further boosting the market. The regulatory environment in Ghana also plays a major role, with the government investing in building and upgrading sports infrastructure, leading to the growth of the Soccer Market.

Underlying macroeconomic factors: The Soccer Market within the Sports Market in Ghana is heavily influenced by macroeconomic factors. This includes the global economic climate, as well as the national economic health of the country. Fiscal policies, such as tax incentives and government subsidies, can also play a significant role in determining the success of the market. Another important factor to consider is the overall financial stability of the country and its impact on consumer spending. With a strong economy and supportive government policies, the Soccer Market in Ghana has the potential for significant growth. However, any negative changes to the macroeconomic landscape could have a detrimental effect on the markets performance.

Methodology

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.