Sports - Colombia

Colombia

The projected total revenue in the Sports market for Colombia is expected to reach US$1.95m in 2022.
This indicates a significant growth potential in the country's sports industry.
Furthermore, the market is anticipated to display a steady annual growth rate (CAGR 2022-2027) of 10.06%.
As a result, the projected market volume is expected to reach US$3.28m by 2027.
This demonstrates the increasing popularity and economic significance of the sports market in Colombia.
In terms of revenue streams, in-app purchase (IAP) revenue in the Sports market is projected to reach US$0.57m in 2022.
This highlights the growing consumer demand for in-app purchases within the sports sector.
Additionally, paid app revenue in the Sports market is projected to reach US$0.61m in 2022, indicating the willingness of consumers to invest in paid applications related to sports.
Moreover, advertising revenue in the Sports market is projected to reach US$0.76m in 2022, showcasing the importance of advertising as a revenue source within the sports industry.
Furthermore, the number of downloads in the Sports market is projected to reach 5.14m downloads in 2022.
This signifies the high level of engagement and interest from consumers in sports-related apps.
Currently, the average revenue per download is expected to amount to US$0.38, indicating the potential profitability of each download for app developers and businesses operating in the sports market.
In a global comparison, it is noteworthy that in China generates the highest revenue in the Sports market.
In 2022, in China is projected to generate a staggering US$1,100.00m in revenue.
This emphasizes the dominant position of the United States in the global sports market and highlights the potential for growth and development in Colombia's sports industry.

Key regions: Japan, Germany, Asia, Europe, China

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. 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 and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.