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Sport Events - Northern Europe

Northern Europe

Revenue in the Sport Events market is projected to reach US$0.70bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.74%, resulting in a projected market volume of US$0.75bn by 2028.
In the Sport Events market, the number of users is expected to amount to 3.8m users by 2028.
User penetration will be 11.2% in 2024 and is expected to hit 11.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$186.60.
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 Northern Europe is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in Northern Europe are playing a key role in the growth of the Sport Events market. There is a strong demand for sports events, with a particular emphasis on outdoor activities and team sports. Northern Europeans are known for their active lifestyles and love for outdoor adventures, making sports events an attractive option for entertainment and leisure. Additionally, there is a growing interest in health and wellness, with many individuals seeking opportunities to engage in physical activities and stay fit. As a result, the Sport Events market is thriving as it caters to these preferences. Trends in the market further support the growth of the Sport Events industry in Northern Europe. One notable trend is the increasing popularity of extreme sports events. These adrenaline-pumping activities, such as mountain biking, snowboarding, and rock climbing, are gaining traction among adventure enthusiasts in the region. The appeal of extreme sports events lies in the excitement and thrill they offer, attracting both participants and spectators alike. Another trend is the rise of sports tourism, with people traveling from different countries to attend major sporting events in Northern Europe. This trend not only boosts the local economy but also enhances the international reputation of the region as a sports destination. Local special circumstances also contribute to the development of the Sport Events market in Northern Europe. The region's favorable climate and natural landscapes provide ideal conditions for outdoor sports events. From picturesque mountains to stunning coastlines, Northern Europe offers diverse and captivating settings for various sports activities. Additionally, the presence of state-of-the-art sports facilities and infrastructure further enhances the appeal of the region for hosting major sporting events. These special circumstances create a unique advantage for Northern Europe in attracting both local and international participants to its sports events. Underlying macroeconomic factors are also driving the growth of the Sport Events market in Northern Europe. The region's stable economy and high disposable incomes enable individuals to participate in sports events and invest in sports-related activities. Furthermore, government support and investment in the sports sector play a crucial role in fostering the growth of the Sport Events industry. Governments in Northern Europe recognize the economic and social benefits of sports events and actively promote and sponsor such activities. This support creates a conducive environment for the Sport Events market to thrive and expand. In conclusion, the Sport Events market in Northern Europe is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The region's active and health-conscious population, along with the popularity of extreme sports and sports tourism, are driving the demand for sports events. The favorable climate, natural landscapes, and state-of-the-art infrastructure further contribute to the attractiveness of Northern Europe as a sports destination. Additionally, the stable economy and government support provide a solid foundation for the growth of the Sport Events market in the 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.