Market Insights Advertising & Media Sports

Basketball - India

India

Revenue in the Basketball market is projected to reach €129.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.79%, resulting in a projected market volume of €106.90m by 2029.
In global comparison, most revenue will be generated in the United States (€8,842.00m in 2024).
The average revenue per user (ARPU) in the Basketball market is projected to amount to €5.44 in 2024.
In the Basketball market, the number of users is expected to amount to 27.9m users by 2029.
User penetration in the Basketball market will be at 1.6% in 2024.

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Analyst Opinion

The Basketball market in India is currently experiencing slow growth, influenced by factors such as limited media coverage, low consumer awareness, and a lack of infrastructure for merchandise and ticket sales. Despite the growing interest in the sport, the market is still in its early stages of development and faces challenges in terms of accessibility and promotion. This has resulted in minimal growth in the overall market, but with the increasing popularity of the sport and efforts towards expansion, there is potential for significant growth in the future.

Customer preferences: With the rise of social media and internet connectivity in India, there has been a significant increase in the popularity of American basketball culture. From online platforms and forums dedicated to discussing the latest NBA games and players, to the success of Indian basketball players on international teams, there has been a notable shift in consumer preferences towards the sport. This trend is further influenced by the growing availability and accessibility of basketball courts, as well as the emergence of local leagues and tournaments across the country.

Trends in the market: In India, the basketball market is experiencing a surge in popularity, with an increasing number of leagues and tournaments being established across the country. Additionally, there has been a rise in the usage of digital platforms for basketball training, coaching, and live streaming of games. This trend is expected to continue as the countrys infrastructure for sports and technology continues to improve. Industry stakeholders, such as sports teams, leagues, and technology providers, will need to adapt to this trend to remain competitive in the market. With a large youth population and a growing interest in sports, the basketball market in India has significant potential for growth in the coming years.

Local special circumstances: In India, the Basketball Market is emerging as the next big thing in the countrys popular sports landscape. With the increasing popularity of the National Basketball Association (NBA) and the presence of top international players in local tournaments, the market has seen significant growth in recent years. Additionally, the strong cultural and historical connection to the sport, along with the countrys vast youth population, has made India a prime market for basketball. Furthermore, the presence of basketball academies and grassroots programs in various parts of the country has aided in developing top talent and creating a competitive environment.

Underlying macroeconomic factors: The growth of the Basketball Market within the Sports Market is heavily influenced by macroeconomic factors in India. The countrys strong economic growth and increasing disposable income have led to a rise in consumer spending on sports, resulting in a thriving Sports market. Fiscal policies, such as the implementation of the Goods and Services Tax (GST), have also played a role in improving market conditions for the Basketball Market. Additionally, Indias growing population and rising urbanization have contributed to an increase in demand for sports entertainment, leading to a favorable environment for the growth of the Basketball Market.

Methodology

Data coverage:

The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets in the respective segment, which can be online and offline.

Modeling approach / Market size:

Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, 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 ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. 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 or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.

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 impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. 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). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.