Market Insights Digital eServices Event Tickets

Sport Events - Hungary

Hungary

Revenue in the Sport Events market is projected to reach US$23.44m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.10%, resulting in a projected market volume of US$25.47m by 2028.
In the Sport Events market, the number of users is expected to amount to 450.7k users by 2028.
User penetration will be 4.7% in 2024 and is expected to hit 4.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$52.43.
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

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Analyst Opinion

The Sport Events market in Hungary has been experiencing significant growth in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Hungarian consumers have shown a strong interest in sports and sporting events. They enjoy participating in and watching a variety of sports, including football, basketball, handball, and swimming. The passion for sports is deeply ingrained in the culture, with many people actively supporting their favorite teams and athletes. As a result, there is a high demand for sport events and tickets in the country.

Trends in the market: One of the key trends in the sport events market in Hungary is the increasing popularity of international competitions. The country has successfully hosted several major sporting events in recent years, such as the FINA World Championships in swimming and the European Athletics Championships. These events have attracted a large number of international participants and spectators, boosting the overall growth of the market. Another trend is the growing interest in niche sports and alternative sporting events. While football remains the most popular sport in Hungary, there is a rising demand for other sports such as tennis, cycling, and martial arts. This trend is driven by the desire for diversity and the opportunity to explore new sporting experiences.

Local special circumstances: Hungary has a rich sporting heritage and a strong infrastructure for hosting sport events. The country has a number of world-class stadiums and arenas, which provide the necessary facilities and infrastructure for hosting large-scale events. Additionally, the government has been actively promoting sport tourism, attracting both domestic and international visitors to attend sport events in Hungary.

Underlying macroeconomic factors: The growth of the sport events market in Hungary is also influenced by underlying macroeconomic factors. The country has experienced a stable economic growth in recent years, which has increased disposable income and consumer spending. As a result, more people are willing to spend on leisure activities, including attending sport events. Furthermore, the government has implemented policies to support the development of the sport industry, including tax incentives and funding for sports facilities. In conclusion, the Sport Events market in Hungary is growing due to customer preferences for sports, the popularity of international competitions, the interest in niche sports, the country's strong sporting infrastructure, and the favorable macroeconomic conditions. These factors have contributed to the increasing demand for sport events and the overall growth of the market in Hungary.

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.