Market Insights Advertising & Media Esports

Merchandise & Ticketing - South Korea

South Korea

In South Korea, revenue in the Merchandise & Ticketing market market is projected to reach €9.2m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.66%, leading to a projected market volume of €12.6m by 2029.
In comparison, the majority of revenue within this market is generated China, with a projected market volume of €82.4m in 2024.
Additionally, in South Korea's Merchandise & Ticketing market market, the number of users is anticipated to amount to 1.1m users by 2029.
User penetration is projected to be 1.9% in 2024 and is expected to increase to 2.2% by 2029.
Furthermore, the average revenue per user (ARPU) in South Korea is expected to reach €9.1.
In South Korea, the eSports merchandise and ticketing market is increasingly driven by a strong fan culture, enhancing engagement through exclusive events and collectibles.

Key regions: France, South Korea, Europe, China, United States

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Analyst Opinion

The eSports market in South Korea has seen a steady growth due to the increasing popularity of online gaming and the rise of digital platforms. However, the market growth rate in this region remains subdued due to factors such as limited access to high-speed internet and strict government regulations on virtual currency. These challenges have impacted the growth rate of the merchandise and ticketing market, making it difficult for businesses to fully capitalize on the potential of this market.

Customer preferences: The Merchandise & Ticketing Market within the eSports Market in South Korea has seen a significant increase in demand for digital and virtual merchandise. This shift is driven by the growing popularity of online gaming and eSports events, as well as the increasing use of social media and digital platforms for purchasing and marketing. Additionally, the younger demographic in South Korea, who are avid consumers of eSports, are more likely to prefer digital merchandise and ticketing options, leading to a shift away from traditional physical merchandise. This trend is also influenced by the increasing use of mobile payment methods and the convenience of online shopping.

Trends in the market: In South Korea, the eSports market is experiencing a surge in demand for merchandise and ticketing. This trend can be attributed to the increasing popularity of eSports events and the rise of dedicated eSports arenas. With the growing fan base, there is a rising demand for exclusive merchandise and tickets to live events. This trend is significant as it creates more revenue streams for industry stakeholders and further solidifies the legitimacy of eSports as a mainstream form of entertainment. Additionally, it presents opportunities for partnerships and collaborations between eSports organizations and brands. However, it also raises concerns about the potential exploitation of fans and the need for fair pricing and ethical merchandising practices. As the eSports market continues to grow, these trends are expected to intensify, and industry stakeholders must closely monitor and adapt to them to stay competitive.

Local special circumstances: In South Korea, the Merchandise & Ticketing Market within the eSports Market is heavily influenced by the country's dominant gaming culture. The high demand for gaming-related merchandise and tickets is driven by the popularity of eSports tournaments and the presence of major gaming companies. Additionally, South Korea's advanced technological infrastructure and widespread internet access make it a prime market for digital ticketing and online merchandise sales. Regulatory efforts to promote and support the eSports industry have also contributed to the growth of the market in South Korea.

Underlying macroeconomic factors: The Merchandise & Ticketing Market within the eSports Market in South Korea is heavily impacted by macroeconomic factors such as overall economic stability, government policies, and global economic trends. With South Korea being one of the top countries in terms of eSports revenue and viewership, the market is heavily influenced by the country's economic health and government support for the industry. Additionally, the rise of disposable income and increasing interest in eSports among the younger generation are also contributing to the growth of the Merchandise & Ticketing Market in South Korea. Furthermore, the country's advanced technological infrastructure and government investments in eSports are further propelling market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Merchandise & Ticketing market, which comprises revenues from ticket or merchandise sales relating to live Esports events. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.