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Sport Events - Brunei Darussalam

Brunei Darussalam

Revenue in the Sport Events market is projected to reach US$398.00k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.82%, resulting in a projected market volume of US$411.20k by 2028.
In the Sport Events market, the number of users is expected to amount to 13.2k 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$30.90.
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 Brunei Darussalam is experiencing significant growth and development. Customer preferences are shifting towards more active and participatory forms of entertainment, leading to an increased demand for sports events. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Brunei Darussalam are increasingly focused on health and fitness. With rising awareness of the importance of physical activity, individuals are seeking ways to incorporate exercise into their daily lives. Attending sports events provides an opportunity for people to engage in physical activity while also enjoying entertainment. Furthermore, there is a growing interest in supporting local athletes and teams, which drives the demand for sports events. The trends in the Sport Events market in Brunei Darussalam are closely aligned with global and regional market trends. One of the key trends is the rise of spectator sports. As more people become interested in watching sports, the demand for live events increases. This trend is fueled by advancements in technology, which allow for enhanced viewing experiences and greater access to sports content. Additionally, there is a growing emphasis on creating immersive and interactive experiences for spectators, such as fan zones and live performances, which further contribute to the popularity of sports events. Another trend in the market is the diversification of sports events. While traditional sports like football and basketball remain popular, there is a growing interest in niche and alternative sports. This trend is driven by the desire for unique and differentiated experiences. Brunei Darussalam, with its diverse population and multicultural influences, is well-positioned to embrace this trend and offer a wide range of sports events that cater to different interests and preferences. Local special circumstances in Brunei Darussalam also play a role in the development of the Sport Events market. The government has been actively promoting sports and physical activity as part of its efforts to improve public health and well-being. This support includes the development of sports infrastructure, the organization of sporting events, and the provision of funding for athletes and teams. These initiatives contribute to the growth of the Sport Events market by creating an enabling environment for sports events and attracting both local and international participants. Underlying macroeconomic factors, such as economic growth and increasing disposable incomes, also contribute to the expansion of the Sport Events market in Brunei Darussalam. As the economy grows, individuals have more resources to spend on leisure and entertainment activities, including sports events. Additionally, the government's focus on diversifying the economy and promoting tourism further boosts the demand for sports events, as they attract both domestic and international visitors. In conclusion, the Sport Events market in Brunei Darussalam is experiencing significant growth and development. Customer preferences for active and participatory forms of entertainment, global and regional market trends, local special circumstances, and underlying macroeconomic factors all contribute to the expansion of the market. As the demand for sports events continues to rise, the industry is expected to further evolve and diversify 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.