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Sport Events - Serbia

Serbia

Revenue in the Sport Events market is projected to reach €6.89m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.94%, resulting in a projected market volume of €7.44m by 2028.
In the Sport Events market, the number of users is expected to amount to 243.2k users by 2028.
User penetration will be 3.5% in 2024 and is expected to hit 3.6% by 2028.
The average revenue per user (ARPU) is expected to amount to €28.60.
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

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Analyst Opinion

The Sport Events market in Serbia is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences play a crucial role in driving the growth of the Sport Events market in Serbia. People in Serbia are increasingly interested in sports and are actively participating in various sporting activities. This growing interest in sports has led to a higher demand for sport events, including both professional and amateur competitions. Additionally, there is a strong sense of community and national pride associated with sports in Serbia, which further fuels the enthusiasm for attending and participating in sport events. Trends in the market also contribute to the development of the Sport Events market in Serbia. One notable trend is the increasing popularity of international sports events in the country. Serbia has successfully hosted major international sporting events in recent years, such as the European Athletics Championships and the Davis Cup Finals. These events not only attract local spectators but also international tourists, boosting the overall demand for sport events in the country. Another trend is the diversification of sport events in Serbia. While traditional sports like football and basketball remain popular, there is a growing interest in niche sports such as tennis, volleyball, and handball. This diversification provides more options for sports enthusiasts and contributes to the overall growth of the market. Local special circumstances also play a role in the development of the Sport Events market in Serbia. The country has a rich sporting heritage and has produced many successful athletes in various disciplines. This legacy creates a strong foundation for the sport events industry and fosters a culture of sports participation and support. Additionally, the government and local authorities in Serbia have been actively promoting sports and investing in sports infrastructure, which further stimulates the growth of the market. Underlying macroeconomic factors also contribute to the positive development of the Sport Events market in Serbia. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and leisure spending. As a result, people in Serbia have more financial resources to allocate towards attending sport events, contributing to the market's growth. In conclusion, the Sport Events market in Serbia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing interest in sports, the popularity of international events, the diversification of sport events, the rich sporting heritage, and the favorable macroeconomic conditions all contribute to the positive trajectory 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.