Sport Events - Slovakia

Slovakia

Highlights

Revenue in the Sport Events market is projected to reach US$39.99m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.02%, resulting in a projected market volume of US$45.04m by 2028.
In the Sport Events market, the number of users is expected to amount to 425.6k users by 2028.
User penetration will be 7.7% in 2024 and is expected to hit 7.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$95.05.
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 Slovakia has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Slovakia has a strong sporting culture, with a high level of interest and participation in various sports. This has led to a strong demand for sport events, both as spectators and participants. Customers in Slovakia value the opportunity to watch and engage in sports, as it provides entertainment, social interaction, and a sense of community. As a result, there is a growing demand for a wide range of sport events, from professional competitions to amateur tournaments.

Trends in the market: One of the key trends in the Sport Events market in Slovakia is the increasing popularity of international sporting events. Slovakia has successfully hosted several major international tournaments in recent years, such as the Ice Hockey World Championship and the European Athletics Team Championships. These events not only attract a large number of spectators from Slovakia but also from neighboring countries, boosting tourism and the local economy. The success of these international events has also raised the profile of Slovakia as a destination for sport events, attracting more organizers and participants. Another trend in the market is the growing interest in niche and alternative sports. While traditional sports like football and ice hockey remain popular, there is a rising demand for sports such as cycling, running, and extreme sports. This trend is driven by a desire for more active and adventurous experiences, as well as the influence of international sporting trends. As a result, there has been an increase in the number of sport events catering to these niche sports, including marathons, triathlons, and mountain biking competitions.

Local special circumstances: Slovakia's geographical location and natural landscape provide unique opportunities for sport events. The country is known for its beautiful mountains, rivers, and lakes, making it an ideal setting for outdoor activities. This has led to the development of sport events that take advantage of the natural surroundings, such as hiking and kayaking races. Additionally, Slovakia has a rich cultural heritage and a strong tradition of folk sports, which are often incorporated into sport events, adding a distinct local flavor.

Underlying macroeconomic factors: The overall economic growth and increasing disposable income in Slovakia have contributed to the development of the Sport Events market. As people have more financial resources, they are willing to spend on leisure activities, including sport events. The government has also recognized the potential of the sport events industry and has been actively supporting its development through funding and infrastructure investments. This has created a favorable environment for the growth of the market. In conclusion, the Sport Events market in Slovakia is experiencing growth due to customer preferences for sport-related activities, the popularity of international events, the demand for niche sports, unique local circumstances, and favorable macroeconomic factors. This presents opportunities for both organizers and participants in the market.

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.