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Sport Events - Senegal

Senegal

Revenue in the Sport Events market is projected to reach US$6.49m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.76%, resulting in a projected market volume of US$8.43m by 2028.
In the Sport Events market, the number of users is expected to amount to 277.2k users by 2028.
User penetration will be 1.3% in 2024 and is expected to hit 1.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$26.71.
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 Senegal is experiencing significant growth and development in recent years.

Customer preferences: Senegal has a strong passion for sports, particularly football. Football matches and tournaments attract large crowds and generate a lot of excitement and enthusiasm among the local population. In addition to football, other sports such as basketball, wrestling, and athletics also have a dedicated following in Senegal.

Trends in the market: One of the key trends in the Sport Events market in Senegal is the increasing number of international tournaments and competitions being hosted in the country. Senegal has made a name for itself as a preferred destination for hosting major sporting events, attracting both local and international participants and spectators. This trend is driven by the country's growing reputation as a sports hub in the region, as well as its modern sports facilities and infrastructure. Another trend in the market is the rising popularity of sports tourism in Senegal. Many tourists are now visiting the country specifically to attend sports events and experience the vibrant sports culture. This trend is supported by the government's efforts to promote Senegal as a tourist destination and the growing number of international flights connecting the country to other parts of the world.

Local special circumstances: One of the unique aspects of the Sport Events market in Senegal is the strong sense of community and pride associated with sports. Sports events are not just seen as entertainment, but also as a way to bring people together and foster a sense of unity and identity. This cultural aspect plays a significant role in the success and popularity of sports events in the country.

Underlying macroeconomic factors: The development of the Sport Events market in Senegal is also influenced by several macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has contributed to the growing demand for sports events and related services. Furthermore, the government has been actively investing in sports infrastructure and facilities, creating a conducive environment for the growth of the Sport Events market. These investments not only attract international tournaments but also support the development of local talent and grassroots sports initiatives. In conclusion, the Sport Events market in Senegal is witnessing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The country's passion for sports, the increasing number of international tournaments, the rise of sports tourism, the strong sense of community, and the government's investments all contribute to the thriving sports events industry in Senegal.

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.