Demand for smart security at airports to drive the growth

The Sports And Arts Promoters Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Sports And Arts Promoters Global Market Report 2024, The sports and arts promoters market size has grown strongly in recent years. It will grow from $231.49 billion in 2023 to $246.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growing interest in sports and arts, sponsorship and advertising, advances in digital media and online ticketing systems, event tourism, cultural awareness.

The sports and arts promoters market size is expected to see strong growth in the next few years. It will grow to $314.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to digital engagement, sustainability initiatives, hybrid and virtual events, inclusivity and diversity, personalization and fan experience. Major trends in the forecast period include esports and online streaming, niche and micro events, health and wellness events, cross-genre collaborations, fan engagement technology.

Sports organizers are implementing virtual reality technology to improve the spectator experience in a sporting event. Virtual reality technology generates images, sounds, and other sensations that simulate a physical presence in an imaginary environment. Clubs and teams are experimenting with simulated and 360-degree environments to enhance the match viewing experience of the fans by allowing them to have a virtual walkthrough of the stadium or the racetrack and view the match from different angles. For instance, the NBA game between the Sacramento Kings and San Antonio Spurs was broadcasted in VR. The viewers could watch the action from a myriad of angles, including underneath the basket. NASCAR has created an interactive fan area at the racetracks with the implementation of virtual reality.

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The sports and arts promoters market covered in this report is segmented –

1) By Type: Sports Promoters; Arts Promoters

2) By Revenue Source: Media Rights; Merchandising; Tickets; Sponsorship

3) By End-Users: Individuals; Companies

The sports and arts promoters market report table of contents includes: