Sport Events - Africa

Africa

Highlights

Revenue in the Sport Events market is projected to reach US$456.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.47%, resulting in a projected market volume of US$523.40m by 2028.
In the Sport Events market, the number of users is expected to amount to 19.6m users by 2028.
User penetration will be 1.4% in 2024 and is expected to hit 1.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$25.27.
In global comparison, most revenue will be generated United States (US$16.43bn in 2024).
With a projected rate of 17.1%, the user penetration in the Sport Events market is highest Luxembourg.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sport Events market in Africa is experiencing significant growth and development in recent years. With a diverse range of sporting activities and a growing interest in sports among the population, the demand for sport events has been on the rise.

Customer preferences: Customers in Africa have shown a strong preference for a wide variety of sport events. Football, in particular, is immensely popular across the continent, with large numbers of fans attending matches and tournaments. Other sports such as athletics, rugby, basketball, and cricket also have a substantial following. The passion for sports in Africa is evident in the enthusiastic support shown by fans during matches and events.

Trends in the market: The sport events market in Africa is witnessing several key trends. One of the notable trends is the increasing number of international sporting events being hosted in the region. African countries have successfully bid for major tournaments such as the Africa Cup of Nations, the African Games, and the World Athletics Championships. These events not only showcase the sporting talent of the continent but also attract tourists and generate revenue for the host countries. Another trend in the market is the growing investment in sports infrastructure. African governments and private investors are recognizing the economic and social benefits of developing sports facilities. This includes the construction of modern stadiums, training centers, and sports academies. The improved infrastructure not only enhances the overall sporting experience but also creates opportunities for local athletes to develop their skills and compete at a higher level.

Local special circumstances: Africa's unique cultural diversity and rich sporting heritage contribute to the growth of the sport events market. Traditional sports and games are deeply rooted in African culture, and many of these activities are now being incorporated into modern sporting events. This blend of traditional and contemporary sports creates a unique experience for both participants and spectators. Furthermore, the increasing popularity of digital platforms and social media has played a significant role in promoting sport events in Africa. Fans can now follow their favorite teams and athletes in real-time, engage in discussions, and access exclusive content. This has not only increased the reach and visibility of sport events but has also created new opportunities for sponsorship and advertising.

Underlying macroeconomic factors: The development of the sport events market in Africa is also influenced by macroeconomic factors. Economic growth in many African countries has led to an increase in disposable income, allowing more people to participate in and attend sport events. Additionally, the rise of the middle class has created a new consumer base for sports-related products and services. Furthermore, the continent's young and growing population is a key driver of the sport events market. With a large youth demographic, there is a strong demand for recreational activities and entertainment. Sport events provide an avenue for socializing, networking, and showcasing talent, making them particularly appealing to the younger generation. In conclusion, the sport events market in Africa is experiencing significant growth and development due to customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the continent continues to invest in sports infrastructure and host international tournaments, the market is expected to further expand, providing opportunities for athletes, businesses, and fans alike.

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.