Sports - Thailand

Thailand

The Sports market in Thailand is expected to witness remarkable growth in the coming years.
According to projections, the total revenue in this market is set to reach US$2.86m in 2022.
Furthermore, it is anticipated that the market will continue to grow steadily with an annual growth rate of 10.09% between 2022 and 2027.
This growth trajectory is expected to result in a market volume of US$4.59m by 2027.
Within the Sports market, in-app purchase (IAP) revenue is projected to reach US$1.16m in 2022, indicating a significant source of income for businesses in this sector.
Additionally, paid app revenue is expected to reach US$0.48m in the same year, highlighting the willingness of consumers in Thailand to invest in sports-related applications.
Moreover, advertising revenue is projected to reach US$1.22m in 2022, suggesting the prominence of advertisements as a revenue stream within the Sports market.
In terms of user engagement, the number of downloads in the Sports market is estimated to reach 7.65m downloads in 2022, indicating a strong interest in sports-related applications among consumers.
Furthermore, the average revenue per download is expected to be US$0.37, emphasizing the potential profitability of each user acquisition.
When comparing revenue on a global scale, it is noteworthy that in China generates the highest revenue in the Sports market.
In 2022, in China is expected to generate a staggering US$1,100.00m in revenue, showcasing its dominance in this sector.
Overall, the Sports market in Thailand presents a promising landscape for businesses, with substantial revenue potential and a growing consumer base.
As the market continues to evolve, it will be interesting to observe the various revenue streams and their impact on the overall growth of the industry.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. 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 are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.