Market Insights Digital eServices Event Tickets

Sport Events - Vietnam

Vietnam

Revenue in the Sport Events market is projected to reach US$86.92m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.96%, resulting in a projected market volume of US$97.68m by 2028.
In the Sport Events market, the number of users is expected to amount to 2.9m users by 2028.
User penetration will be 2.9% in 2024 and is expected to hit 2.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$29.88.
In global comparison, most revenue will be generated in the United States (US$16,430.00m 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 Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Vietnam have shifted towards a more active and health-conscious lifestyle, leading to an increased demand for sports events. People are becoming more aware of the benefits of regular exercise and are actively seeking opportunities to participate in sports activities. This has created a growing market for sport events, including marathons, triathlons, and other competitive sporting events. Additionally, there is a rising interest in international sports events, with many Vietnamese people now following and supporting global sporting competitions such as the Olympics and World Cup. In addition to changing customer preferences, there are also local special circumstances that have contributed to the growth of the sport events market in Vietnam. The government has been actively promoting sports and physical activities as part of its efforts to improve public health and well-being. This has resulted in increased investment in sports infrastructure and facilities, making it easier for organizers to host sport events in the country. Furthermore, the emergence of local sports stars and successful Vietnamese athletes has also generated interest and enthusiasm among the population, leading to a greater demand for sport events. The sport events market in Vietnam is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and higher consumer spending. This has allowed more people to afford participation fees and tickets for sport events, contributing to the market growth. Additionally, the growth of the tourism industry in Vietnam has also played a role in the development of the sport events market. As more tourists visit the country, there is a greater demand for entertainment and leisure activities, including sport events. Organizers have recognized this opportunity and have been actively promoting sport events as part of the tourist experience in Vietnam. Overall, the Sport Events market in Vietnam is experiencing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing interest in sports and physical activities, government support for sports promotion, and the growing economy are all contributing to the expansion of the market. As a result, the sport events industry in Vietnam is expected to continue to thrive 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.