Sports - Northern Europe

Northern Europe

The Sports market in Northern Europe is expected to witness significant growth, with total revenue projected to reach US$22.59m in 2022.
This represents a substantial market size within the region.
Over the next five years (2022-2027), the market is anticipated to grow at an annual growth rate of 9.44%, resulting in a projected market volume of US$36.53m by 2027.
This growth trajectory indicates a promising future for the Sports market in Northern Europe.
When examining the revenue breakdown within the Sports market, it is estimated that in-app purchase (IAP) revenue will contribute significantly, reaching US$12.99m in 2022.
This revenue stream is expected to be a major driver of growth within the market.
Additionally, paid app revenue is projected to reach US$2.32m in 2022, showcasing the potential for monetization through paid applications.
Furthermore, advertising revenue is anticipated to reach US$7.29m in 2022, highlighting the significance of advertising as a revenue source within the Sports market.
In terms of user engagement, the number of downloads in the Sports market is projected to reach 4.95m downloads in 2022.
This indicates a strong demand for sports-related applications and content in Northern Europe.
Moreover, the average revenue per download is currently expected to amount to US$4.56, illustrating the revenue potential per individual download.
When comparing the Sports market globally, it becomes evident that in China generates the highest revenue, with an estimated revenue of US$1,100.00m in 2022.
This showcases the dominance of the US market within the sports industry.
In conclusion, the Sports market in Northern Europe demonstrates promising growth potential, with substantial revenue projections and a diverse range of revenue streams.
The market's strong focus on in-app purchases, paid apps, and advertising revenue, coupled with a significant number of downloads, highlights the lucrative opportunities available within the region.
However, it is essential for businesses to consider the global market landscape, with in China leading in terms of revenue generation.

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.