Market Insights Advertising & Media Sports

Cricket - Worldwide

Worldwide

Revenue in the Cricket market is projected to reach €3.40bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.41%, resulting in a projected market volume of €3.83bn by 2029.
In global comparison, most revenue will be generated in India (€2,088.00m in 2024).
The average revenue per user (ARPU) in the Cricket market is projected to amount to €26.34 in 2024.
In the Cricket market, the number of users is expected to amount to 139.0m users by 2029.
User penetration in the Cricket market will be at 1.7% in 2024.

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Analyst Opinion

The Cricket market, part of the Sports market worldwide, has seen a slight decline in growth due to factors such as the limited reach of Cricket media and reduced demand for cricket tickets. However, the market is expected to bounce back due to rising popularity of digital technologies and increasing health awareness among consumers. Convenience offered by online health services is also likely to drive growth in the market.

Customer preferences: One notable trend in the Cricket Market within the Sports Market is the increasing use of technology in the sport. With the rise of social media and digital platforms, digital and virtual experiences have become increasingly popular among fans. This has led to the development of advanced analytics and data-driven solutions, providing fans with insightful statistics and analysis of player and team performances. Additionally, with the growing need for remote connectivity, virtual tournaments and matches have emerged, offering fans the opportunity to engage with the sport from the comfort of their homes. This shift towards a more technology-driven cricket experience is fueled by the changing preferences of the digital-savvy younger generation and the need for greater accessibility and convenience.

Trends in the market: In the Cricket Market within the Sports Market, there is a noticeable trend towards the use of advanced analytics and technology to enhance player performance and fan engagement. This trend is expected to continue as data-driven decision making becomes increasingly important in the sport. Additionally, there is a growing focus on sustainability and eco-friendly practices in cricket venues and events, with many stakeholders and organizations taking steps to reduce their environmental impact. This trend is likely to continue as consumers become more conscious of the environmental implications of their sports choices. Lastly, there has been a rise in the use of social media platforms and digital streaming services to reach a wider and younger audience, indicating a shift towards more modern and innovative methods of promoting the sport.

Local special circumstances: In the Cricket Market within the Sports Market, India stands out as a key player due to its strong cultural and historical connections to the sport. The countrys large population and love for cricket have created a thriving market for sports goods and services. Additionally, countries like England, Australia, and South Africa have a rich cricketing history, making them significant markets for cricket equipment and merchandise. On the other hand, in countries like the United States and Canada, cricket is a relatively new and niche sport, limiting its market potential. These geographical and cultural differences significantly impact the demand and supply dynamics of the cricket market worldwide, shaping its growth and development.

Underlying macroeconomic factors: The Cricket Market within the Sports Market is greatly impacted by macroeconomic factors, such as global economic trends, national economic health, fiscal policies, and financial indicators. A strong global economy with robust consumer spending and higher disposable income translates to higher investment in cricket, leading to market growth. Countries with favorable economic health, stable fiscal policies, and strong consumer purchasing power see a surge in demand for cricket-related products and services. On the other hand, nations facing economic challenges or limited consumer spending may experience slower market growth. Furthermore, government initiatives and investments in sports infrastructure can also significantly influence the growth of the Cricket Market within the Sports Market, as it creates better opportunities for players, fans, and businesses to engage in the sport.

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.