Sports Market Key Trends, Size, Outlook, Overview 2023-2032 | Maruhan, Life Time Fitness, Inc., Liberty Media Corporation, Futbol Club Barcelona, Dallas Cowboys

The Sports Global Market Report 2023 by The Business Research Company, provides sports market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/sports-global-market-report

According to The Business Research Company’s Sports Global Market Report 2023, the global sports market size grew from $486.61 billion in 2022 to $512.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global sports market is expected to grow to $623.63 billion in 2027 at a CAGR of 5.0%.

The market is expected to benefit from the steady economic growth forecasted for many developed and developing countries.

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The sports market is segmented:

1) By Type: Spectator Sports, Participatory Sports

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

3) By Ownership: Chained, Standalone

Subsegments Covered: Sports Team & Clubs, Racing & Individual Sports, Golf Courses And Country Clubs, Skiing Facilities, Marinas, Fitness And Recreational Sports Centers, Bowling Centers, Other Participatory Sports

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 race track 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 race tracks with the implementation of virtual reality.

The sports market report table of contents includes: