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Sport Events - Kenya

Kenya

Revenue in the Sport Events market is projected to reach €27.38m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.94%, resulting in a projected market volume of €30.74m by 2028.
In the Sport Events market, the number of users is expected to amount to 1.0m users by 2028.
User penetration will be 1.6% in 2024 and is expected to hit 1.5% by 2028.
The average revenue per user (ARPU) is expected to amount to €29.32.
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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Sport Events market in Kenya has been experiencing significant growth in recent years. Customer preferences have shifted towards more active and participatory forms of entertainment, leading to an increased demand for sport events. This trend is driven by several factors, including a growing middle class, increased urbanization, and a greater emphasis on health and wellness.

Customer preferences: Kenyan consumers are increasingly seeking out experiences that allow them to engage in physical activity and connect with others. This shift in preferences is reflected in the growing popularity of sport events, which offer a range of activities for participants of all ages and fitness levels. From marathons and triathlons to football matches and rugby tournaments, there is a wide variety of sport events to cater to different interests.

Trends in the market: One of the key trends in the Sport Events market in Kenya is the rise of amateur and community-based events. These events provide opportunities for individuals to participate in sports and compete against others in a friendly and supportive environment. They also serve as platforms for promoting health and wellness, as well as fostering a sense of community and social cohesion. Another trend in the market is the increasing focus on sports tourism. Kenya has a rich sporting heritage and is known for its world-class athletes, particularly in long-distance running. This has attracted international visitors who are keen to experience the country's sporting culture and participate in events such as the Nairobi Marathon or the Safari Sevens rugby tournament. The influx of tourists has not only boosted the local economy but also created opportunities for local businesses to cater to the needs of these visitors.

Local special circumstances: Kenya's vibrant sporting culture and the success of its athletes on the global stage have played a significant role in driving the growth of the Sport Events market. The country has produced numerous Olympic and world champions in athletics, rugby, and other sports, which has inspired a new generation of athletes and fans. This passion for sports has translated into increased participation in sport events and a greater demand for quality sporting facilities.

Underlying macroeconomic factors: The growth of the Sport Events market in Kenya is also supported by favorable macroeconomic conditions. The country has experienced steady economic growth in recent years, which has led to an expansion of the middle class and increased disposable income. This has allowed more individuals to participate in sport events and spend on related products and services. Furthermore, urbanization has played a role in the development of the Sport Events market. As more people move to cities, there is a greater need for recreational activities and venues that cater to their interests. This has led to the establishment of sports complexes, stadiums, and other infrastructure to support the growing demand for sport events. In conclusion, the Sport Events market in Kenya is experiencing significant growth due to changing customer preferences, including a greater emphasis on active and participatory forms of entertainment. The rise of amateur and community-based events, as well as the focus on sports tourism, are key trends in the market. Kenya's sporting culture, success on the global stage, favorable macroeconomic conditions, and urbanization are all contributing factors to the development 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.