Market Insights Advertising & Media Sports

Cricket - United States

United States

Revenue in the Cricket market is projected to reach €81.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.19%, resulting in a projected market volume of €90.42m by 2029.
In global comparison, most revenue will be generated in India (€2,110.00m in 2024).
The average revenue per user (ARPU) in the Cricket market is projected to amount to €16.66 in 2024.
In the Cricket market, the number of users is expected to amount to 5.1m users by 2029.
User penetration in the Cricket market will be at 1.4% in 2024.

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Analyst Opinion

The Cricket market in the United States is experiencing a negligible decline in growth rate, likely due to factors such as dwindling interest in Cricket Media and a decrease in sales for Cricket Tickets. Despite this, the overall Sports Market in the US continues to see significant growth, thanks to a rise in popularity of digital technologies and an increasing focus on health and wellness. Convenience, facilitated by online services, is also a key driving factor in this growth.

Customer preferences: The popularity of cricket in the United States is growing rapidly, especially among diverse communities such as South Asians and Caribbean immigrants. This has led to a rise in demand for cricket equipment and apparel, as well as an increase in viewership for major cricket leagues. Moreover, the rise of social media and online streaming platforms has made it easier for fans to access live cricket matches and stay updated on their favorite teams and players. The shift towards digital platforms has also allowed for greater engagement and interaction among cricket fans, giving rise to a vibrant online community. Additionally, the increasing number of young players and recreational leagues in the US signals a promising future for the growth of cricket in the country.

Trends in the market: In the United States, the Cricket Market within the Sports Market is experiencing a surge in popularity due to increasing cultural diversity and the rise of international cricket leagues. This trend is expected to continue, with more investments being made in infrastructure and player development. Additionally, there is a growing fanbase for cricket in the United States, with major networks broadcasting matches and local leagues attracting more viewership. This presents an opportunity for stakeholders to tap into this market and expand their reach.

Local special circumstances: In the United States, the Cricket Market within the Sports Market has gained traction in recent years, with the rising popularity of international matches and the formation of professional leagues. However, compared to other countries, the market is still in its early stages due to the lack of historical ties to the sport and competition with other American sports. Additionally, the cultural perception of cricket as a slower and less exciting sport may also hinder its growth. Despite these challenges, the strong presence of South Asian and Caribbean communities in the US provides a unique opportunity for the market to tap into their enthusiasm and familiarity with the sport. Furthermore, the increasing popularity of youth and amateur cricket leagues in major cities showcases a growing interest and potential for the sport to thrive in the US market.

Underlying macroeconomic factors: The Cricket Market within the Sports Market market in the United States is heavily impacted by macroeconomic factors such as consumer spending trends, national income levels, and government funding for sports infrastructure. In recent years, there has been a growing interest in cricket among the American population, leading to an increase in demand for the sport and its related products and services. Additionally, the US economy has been performing well, with strong consumer confidence and steady economic growth, creating a favorable environment for the growth of the cricket market. Furthermore, the government has made investments in developing infrastructure specifically for cricket, providing opportunities for the market to expand and develop. However, challenges such as competition from established sports and lack of awareness about cricket among the general population may hinder the markets growth. Nevertheless, the growing popularity and economic stability in the US bode well for the potential for growth and success in the cricket 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.