The Spectator Sports 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 (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Spectator Sports, The spectator sports market size has grown strongly in recent years. It will grow from $171.06 billion in 2023 to $182.4 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to emerging markets growth, and rapid urbanization.
The spectator sports market size is expected to see strong growth in the next few years. It will grow to $235.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising sponsorships, increase in internet accessible devices, multiple sports channels to capture viewership, and economic growth. Major trends in the forecast period include mobile ticketing, virtual reality to enhance spectators’ experience, analytics for pricing tickets, emerging markets are investing in sports, fusion of sports and entertainment, sponsorships to partnerships, corporate social responsibility and sustainability, rising demand for smart arenas/stadiums.
The market is expected to benefit from the steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) stated that the global real GDP growth increased by 3.6% from 2021 to 2023. Recovering commodity prices are further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, India’s GDP grew at 8.7% in 2021-22, up by 1.5% compared to 2019-20, whereas China registered a GDP growth of 8.1% in 2021. This continued economic growth is expected to drive the demand for spectator sports.
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The spectator sports market covered in this report is segmented –
1) Spectator Sports Market By Type: Sports Team & Clubs, Racing & Individual Sports
2) Spectator Sports Market By Type Of Sport: Badminton, Baseball, Basketball, Cricket, Cycling, Hockey, Ice Hockey, Racing, Rugby/ Football, Soccer, Table Tennis, Tennis, Volleyball, Wrestling/Boxing, Mixed Martial Arts, Others
3) Spectator Sports Market By Revenue Source: Media Rights, Tickets, Sponsorship, And Merchandising
Sub segments: Individual Sports, Racing And Cycling, Media Rights, Tickets, Sponsorship, Merchandising
Top Major Players
Dallas Cowboys
Real Madrid
FC Barcelona
New York Yankees
Manchester United Football Club
Sports organizers are implementing virtual reality (VR) technology to improve the spectators’ experience in sporting events. Virtual reality 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 spectators 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. NASCAR has created an interactive fan area at the racetracks with the implementation of virtual reality.
The spectator sports market report table of contents includes:
1. Executive Summary
2. Spectator Sports Market Characteristics
3. Spectator Sports Product/Service Analysis -Product/Service Examples
4. Spectator Sports Market Trends And Strategies
…..
68. Global Spectator Sports Market Competitive Benchmarking
69. Global Spectator Sports Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Spectator Sports Market
71. Spectator Sports Market Future Outlook and Potential Analysis
72. Appendix
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https://www.thebusinessresearchcompany.com/report/sports-global-market-report
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