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Sport Events - South Africa

South Africa

Revenue in the Sport Events market is projected to reach €132.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.55%, resulting in a projected market volume of €146.30m by 2028.
In the Sport Events market, the number of users is expected to amount to 3.9m users by 2028.
User penetration will be 6.2% in 2024 and is expected to hit 6.0% by 2028.
The average revenue per user (ARPU) is expected to amount to €34.57.
In global comparison, most revenue will be generated in the United States (€15,080.00m 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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Sport Events market in South Africa has been experiencing significant growth in recent years. Customer preferences have shifted towards more active and experiential forms of entertainment, leading to an increased demand for sport events. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in South Africa have been evolving, with a growing interest in sports and physical activities. People are increasingly seeking out opportunities to engage in active lifestyles and participate in sports events. This shift in preferences can be attributed to a greater emphasis on health and wellness, as well as a desire for unique and memorable experiences. As a result, the demand for sport events has been on the rise. Trends in the market reflect the changing customer preferences and the growing demand for sport events. South Africa has seen an increase in the number and variety of sport events being organized. Major international sporting events, such as the Rugby World Cup and the Comrades Marathon, have attracted both local and international participants. In addition, there has been a rise in the popularity of niche sports events, catering to specific interests and demographics. This trend indicates a diversification of the sport events market and a willingness to cater to different customer segments. Local special circumstances have also played a role in the development of the sport events market in South Africa. The country has a rich sporting heritage and a passionate fan base, which has contributed to the growth of the market. South Africa has a strong tradition in rugby, cricket, and soccer, and these sports events attract large crowds and generate significant revenue. Furthermore, the government has recognized the economic potential of sport events and has invested in infrastructure and facilities to support their growth. This has created opportunities for both local and international organizers to host sport events in the country. Underlying macroeconomic factors have also influenced the development of the sport events market in South Africa. The country has experienced steady economic growth in recent years, which has increased disposable income and consumer spending. This has allowed more people to afford tickets to sport events and participate in related activities. Additionally, South Africa's growing middle class has contributed to the demand for sport events, as they have more leisure time and disposable income to spend on entertainment. In conclusion, the Sport Events market in South Africa is developing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The growing interest in sports and physical activities, the diversification of sport events, the country's sporting heritage and passionate fan base, and the steady economic growth in South Africa are all contributing to the growth of the market.

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.