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Sport Events - China

China

Revenue in the Sport Events market is projected to reach €1.67bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.28%, resulting in a projected market volume of €1.90bn by 2028.
In the Sport Events market, the number of users is expected to amount to 71.8m users by 2028.
User penetration will be 4.8% in 2024 and is expected to hit 4.8% by 2028.
The average revenue per user (ARPU) is expected to amount to €23.66.
In global comparison, most revenue will be generated in the United States (€15,230.00m 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

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Analyst Opinion

The Sport Events market in China is experiencing significant growth and development in recent years. Customer preferences for sports and entertainment, along with local special circumstances and underlying macroeconomic factors, have contributed to this trend. Customer preferences in China have shifted towards a more active and healthy lifestyle, leading to increased participation in sports events. People are becoming more conscious of their physical well-being and are actively seeking opportunities to engage in sports activities. This has created a growing demand for sport events, including both professional competitions and amateur tournaments. Additionally, the rising popularity of sports such as basketball, soccer, and tennis has further fueled the demand for sport events in the country. Trends in the market indicate a diversification of sport events in China. While traditional sports like basketball and soccer continue to dominate the market, there is a growing interest in niche sports such as cycling, running, and extreme sports. This trend is driven by the younger generation, who are seeking unique and exciting experiences. As a result, organizers are introducing a wider range of sport events to cater to these evolving preferences. Furthermore, the integration of technology in sport events, such as live streaming and virtual reality experiences, has enhanced the overall spectator experience and attracted a larger audience. Local special circumstances in China have also contributed to the development of the sport events market. The Chinese government has recognized the economic and social benefits of hosting major international sports events and has actively encouraged the bidding and hosting of such events. This has led to an increase in the number of international sport events held in China, including the Olympics, World Cups, and various championships. These events not only attract a large number of domestic and international participants but also promote tourism and boost the local economy. Underlying macroeconomic factors in China, such as the growing middle class and increasing disposable income, have also played a significant role in the development of the sport events market. As more people have the financial means to participate in sports activities and attend sport events, the market has experienced a surge in demand. Additionally, the government's focus on promoting sports as part of a national rejuvenation strategy has further stimulated investment in the sport events sector. In conclusion, the Sport Events market in China is thriving due to customer preferences for sports and entertainment, the diversification of sport events, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing as more people embrace an active lifestyle and seek engaging sports experiences.

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.