The Cricket market in India has been experiencing slow growth, largely due to the decline in ticket sales and stagnant growth in media coverage. Factors such as team performance, lack of star players and limited broadcasting deals have impacted the markets growth rate. However, with the increasing fan base and growing popularity of online ticket sales, the market is expected to see a turnaround in the near future.
Customer preferences: The growing popularity of streaming platforms like Hotstar and SonyLiv has led to an increase in the demand for online viewing of live cricket matches. This trend is further fueled by the convenience and flexibility offered by these platforms, catering to the busy and tech-savvy urban population. Additionally, the rise of fantasy cricket games, which allow fans to create and manage their own virtual teams, has created a new level of engagement and interactivity among consumers.
Trends in the market: In India, the Cricket Market within the Sports Market is experiencing a shift towards digitization. Digital streaming platforms are gaining popularity, providing easy access to live matches and highlights. Additionally, fantasy cricket leagues are emerging as a popular trend, allowing fans to actively engage with the sport. This trajectory highlights the increasing influence of technology in the industry, enabling wider reach and engagement for both the fans and the stakeholders. It is evident that the industry will continue to leverage digital platforms to cater to the growing demand for convenient and immersive cricket experiences.
Local special circumstances: In India, the Cricket Market within the Sports Market is greatly influenced by cultural factors, with cricket being considered a national obsession. The country also has a strong passion for sports and a large fan base for the game. This enthusiasm translates into high viewership and revenue for the market. Additionally, the geographical diversity and popularity of different regional leagues contribute to the markets growth. The regulatory environment is also a major factor, with the Indian Premier League (IPL) being a highly regulated and successful franchise-based tournament.
Underlying macroeconomic factors: The Cricket Market within the Sports Market in India is greatly impacted by macroeconomic factors such as the overall state of the economy, the availability of funds for sports development, and government policies related to sports. The global economic climate, particularly in key cricket-playing nations, also plays a significant role in the performance of the Indian Cricket Market. Other important factors influencing growth include technological advancements in the sport, sponsorship and broadcasting deals, and the growing fan base for cricket. Moreover, the increasing popularity of online streaming and digital platforms for watching live matches is creating new opportunities for market growth. Additionally, the rising disposable income and spending power of the Indian population, especially in rural areas, is boosting the demand for cricket-related products and services.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. 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 or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
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