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Sport Events - Southern Africa

Southern Africa

Revenue in the Sport Events market is projected to reach US$147.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.72%, resulting in a projected market volume of US$164.00m by 2028.
In the Sport Events market, the number of users is expected to amount to 4.0m users by 2028.
User penetration will be 5.6% in 2024 and is expected to hit 5.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$37.15.
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

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Region comparison

Currency

Analyst Opinion

The Sport Events market in Southern Africa is experiencing significant growth and development.

Customer preferences: Customers in Southern Africa are increasingly seeking out sport events as a form of entertainment and leisure. They are looking for unique and exciting experiences that allow them to engage with their favorite sports and athletes. Additionally, there is a growing demand for events that promote health and wellness, as well as events that support local communities and social causes.

Trends in the market: One of the key trends in the Sport Events market in Southern Africa is the rise of international sporting events hosted in the region. Southern Africa has become an attractive destination for major sporting events such as football tournaments, rugby matches, and golf championships. These events not only attract local spectators but also international tourists, boosting the local economy and promoting the region as a sports tourism destination. Another trend in the market is the increasing popularity of niche sports events. Southern Africa has seen a rise in events focused on sports such as cricket, tennis, and athletics. These events cater to specific fan bases and provide opportunities for local athletes to showcase their talents on a global stage.

Local special circumstances: Southern Africa has a rich sporting culture, with a strong passion for football, rugby, and cricket. This has contributed to the growth of the Sport Events market in the region. Additionally, the region has a favorable climate for outdoor sports events, making it an ideal location for hosting tournaments and championships.

Underlying macroeconomic factors: The development of the Sport Events market in Southern Africa is also influenced by underlying macroeconomic factors. Economic growth in the region has led to an increase in disposable income, allowing more people to participate in and attend sport events. Furthermore, the growth of the middle class has created a larger consumer base for sport event organizers. In conclusion, the Sport Events market in Southern Africa is thriving due to customer preferences for unique and engaging experiences, the rise of international sporting events, the popularity of niche sports events, the region's sporting culture, and favorable macroeconomic factors. This market is expected to continue growing in the coming years, providing opportunities for both local and international sport event organizers.

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.