Music Events - Sudan

Sudan

Highlights

Revenue in the Music Events market is projected to reach US$115.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -8.87%, resulting in a projected market volume of US$79.82k by 2028.
In the Music Events market, the number of users is expected to amount to 637.7k users by 2028.
User penetration will be 1.3% in 2024 and is expected to hit 1.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$0.20.
In global comparison, most revenue will be generated United States (US$16.98bn in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest Denmark.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Music Events market in Sudan has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Music Events market have shifted towards live performances and experiential events. This trend can be observed not only in Sudan but also worldwide, as people increasingly seek unique and memorable experiences. Live music events provide an opportunity for individuals to connect with their favorite artists and immerse themselves in the music. Additionally, the rise of social media has made it easier for people to discover new artists and share their experiences with others, further fueling the demand for music events. In Sudan, there are several trends that are shaping the Music Events market. Firstly, there has been a growing interest in local Sudanese music and cultural events. Sudan has a rich musical heritage, with various genres such as Sudanese folk, reggae, and hip hop gaining popularity among the younger generation. This has led to an increase in the number of music events that showcase local talent and celebrate Sudanese culture. Another trend in the Music Events market in Sudan is the emergence of international artists performing in the country. In recent years, Sudan has seen a rise in the number of international acts visiting the country for concerts and music festivals. This can be attributed to the improving security situation and the growing recognition of Sudan as a potential market for music events. These international artists not only attract local audiences but also draw tourists from neighboring countries, contributing to the overall growth of the market. Local special circumstances also play a significant role in the development of the Music Events market in Sudan. The country has a young population with a high percentage of individuals under the age of 30. This demographic group is more likely to attend music events and spend money on entertainment. Furthermore, the government has been supportive of the arts and culture sector, providing funding and infrastructure for music events. This has created a conducive environment for the growth of the market. Underlying macroeconomic factors have also contributed to the development of the Music Events market in Sudan. The country has experienced economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, people have more money to spend on leisure activities, including music events. Additionally, the tourism industry has been growing, attracting both domestic and international visitors who are interested in experiencing the local music scene. In conclusion, the Music Events market in Sudan is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing demand for live music experiences, the popularity of local Sudanese music, the emergence of international artists, and the supportive government policies are all contributing to the development of the market. With the continued growth of the economy and the increasing interest in music events, the future looks promising for the Music Events market in Sudan.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. 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. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.