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Sport Events - Southeast Asia

Southeast Asia

Revenue in the Sport Events market is projected to reach US$605.90m 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$678.60m by 2028.
In the Sport Events market, the number of users is expected to amount to 18.0m users by 2028.
User penetration will be 2.5% in 2024 and is expected to hit 2.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$34.19.
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 Southeast Asia has been experiencing significant growth in recent years.

Customer preferences: Customers in Southeast Asia have shown a growing interest in sport events, both as participants and spectators. The region has a strong sporting culture, with a passion for various sports including football, basketball, badminton, and martial arts. This has led to an increase in demand for sports events, ranging from local tournaments to international competitions. Additionally, there is a growing trend of fitness and wellness among the population, which has further contributed to the popularity of sport events.

Trends in the market: One of the key trends in the sport events market in Southeast Asia is the rise of e-sports. E-sports, or competitive video gaming, has gained immense popularity in recent years, attracting a large number of participants and spectators. The region has seen the emergence of professional e-sports teams, tournaments, and leagues, with significant investments being made in infrastructure and technology to support this growing industry. Another trend in the market is the increasing number of international sport events being hosted in Southeast Asia. The region has become a preferred destination for major sporting events such as the Southeast Asian Games, Asian Games, and Formula 1 races. This has not only boosted tourism and local economies but has also helped in promoting the region as a sports hub.

Local special circumstances: One of the factors driving the growth of the sport events market in Southeast Asia is the increasing disposable income of the population. As economies in the region continue to grow, more people have the means to participate in and attend sport events. Additionally, governments in Southeast Asia are actively promoting sports and investing in sports infrastructure, which has further fueled the growth of the market. Another special circumstance in the region is the strong support and enthusiasm for sports from the local communities. Southeast Asians are known for their passion for sports, and this has created a vibrant and dynamic sports culture. This enthusiasm translates into higher attendance and participation rates in sport events, contributing to the overall growth of the market.

Underlying macroeconomic factors: The rapid economic growth in Southeast Asia has played a significant role in the development of the sport events market. As countries in the region continue to experience economic prosperity, more resources are being allocated to the sports sector, leading to the expansion of sport events. Additionally, the rise of the middle class in Southeast Asia has resulted in increased consumer spending on leisure activities, including sport events. Furthermore, the increasing connectivity and accessibility in the region have made it easier for sport event organizers to attract participants and spectators from different countries. Improved transportation infrastructure and the proliferation of digital platforms have facilitated the promotion and organization of sport events, contributing to the overall growth of the market. In conclusion, the sport events market in Southeast Asia is experiencing significant growth due to customer preferences for sports, the rise of e-sports, the hosting of international events, local enthusiasm, economic growth, and improved connectivity. These factors have created a conducive environment for the development and expansion 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.