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Sport Events - ASEAN

ASEAN

Revenue in the Sport Events market is projected to reach US$605.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.87%, resulting in a projected market volume of US$678.40m by 2028.
In the Sport Events market, the number of users is expected to amount to 17.9m users by 2028.
User penetration will be 0.00 in 2024 and is expected to hit 0.00 by 2028.
The average revenue per user (ARPU) is expected to amount to US$34.20.
In global comparison, most revenue will be generated in the United States (US$16,430.00m in 2024).
With a projected rate of 17.1%, the user penetration in the Sport Events market is highest in Luxembourg.

Key regions: India, Brazil, Germany, South Korea, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Sport Events market in ASEAN is experiencing significant growth and development in recent years.

Customer preferences: Customers in ASEAN countries have shown a strong interest in sport events, with a growing demand for both local and international sporting competitions. This can be attributed to the rising popularity of sports and the increasing disposable income of consumers in the region. Additionally, there is a growing trend of people participating in sports and fitness activities, which has further fueled the demand for sport events.

Trends in the market: One of the key trends in the ASEAN sport events market is the increasing number of international sporting competitions being hosted in the region. ASEAN countries have been successful in attracting major sporting events such as the Southeast Asian Games, Asian Games, and even the Olympic Games. This trend is driven by various factors including the region's growing reputation as a sports hub, the availability of world-class sports facilities, and the support of local governments in hosting such events. Another trend in the market is the growing popularity of niche sports events. While traditional sports like football and basketball remain popular, there is a rising interest in niche sports such as mixed martial arts, e-sports, and extreme sports. This trend can be attributed to the changing preferences of the younger generation, who are seeking new and unique sporting experiences.

Local special circumstances: Each ASEAN country has its own unique set of circumstances that contribute to the development of the sport events market. For example, Thailand is known for its vibrant Muay Thai scene and has successfully hosted major Muay Thai tournaments, attracting both local and international participants. On the other hand, Singapore has positioned itself as a hub for international sporting events, leveraging its world-class infrastructure and strategic location in the region.

Underlying macroeconomic factors: The growth of the sport events market in ASEAN can also be attributed to underlying macroeconomic factors. The region has experienced steady economic growth in recent years, resulting in an increase in disposable income and consumer spending. This has allowed individuals to allocate more of their budget towards leisure activities, including attending sport events. Furthermore, the ASEAN region has seen a rise in tourism, with more visitors coming to the region for leisure and sports-related activities. This has created opportunities for the sport events market to attract both domestic and international spectators, further driving its growth. In conclusion, the Sport Events market in ASEAN is experiencing significant growth and development due to customer preferences for sport events, the trends in the market such as the hosting of international competitions and the popularity of niche sports, as well as local special circumstances and underlying macroeconomic factors. This presents a promising outlook for the sport events industry in the ASEAN region.

Methodology

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.