Market Insights Digital eServices Event Tickets

Music Events - Senegal

Senegal

Revenue in the Music Events market is projected to reach €7.88m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.47%, resulting in a projected market volume of €10.51m by 2028.
In the Music Events market, the number of users is expected to amount to 379.8k users by 2028.
User penetration will be 1.9% in 2024 and is expected to hit 2.0% by 2028.
The average revenue per user (ARPU) is expected to amount to €23.75.
In global comparison, most revenue will be generated in the United States (€15,750.00m in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest in Denmark.

Key regions: India, Japan, Europe, China, Asia

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Analyst Opinion

The music events market in Senegal is experiencing significant growth and development. Customer preferences for live music performances and cultural events are driving this trend. Additionally, local special circumstances and underlying macroeconomic factors contribute to the growth of the market. Customer preferences in Senegal lean towards live music performances and cultural events. The Senegalese people have a rich musical heritage and a strong appreciation for music. They enjoy experiencing music in a live setting, where they can immerse themselves in the energy and atmosphere of the performance. This preference for live music events has created a demand for concerts, music festivals, and other music-related gatherings. Trends in the market show an increase in the number and scale of music events in Senegal. Music festivals, such as the Saint Louis Jazz Festival and the Dakar Music Expo, attract both local and international artists and audiences. These events provide a platform for artists to showcase their talent and for music enthusiasts to enjoy a diverse range of musical genres. The growing popularity of these festivals indicates a thriving music events market in Senegal. Local special circumstances contribute to the development of the music events market in Senegal. The country's vibrant music scene and cultural heritage make it an attractive destination for music events. Senegal is known for its rich musical traditions, including genres like mbalax, which originated in the country. This cultural richness attracts artists and music lovers from around the world, further fueling the growth of the market. Underlying macroeconomic factors also play a role in the development of the music events market in Senegal. The country's economy has been growing steadily in recent years, leading to an increase in disposable income among the population. This allows more people to afford tickets to music events and contributes to the overall demand for live performances. Additionally, the government's efforts to promote tourism and cultural exchange have created opportunities for music events to thrive in Senegal. In conclusion, the music events market in Senegal is experiencing growth and development due to customer preferences for live music performances, local special circumstances, and underlying macroeconomic factors. The demand for music events in Senegal is driven by the Senegalese people's love for live music and their rich cultural heritage. The increase in the number and scale of music festivals in the country indicates a thriving market. With the country's growing economy and government support for tourism and cultural exchange, the music events market in Senegal is expected to continue to flourish in the coming years.

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.