The 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 Sports, The sports market size has grown strongly in recent years. It will grow from $480.12 billion in 2023 to $506.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid growth in ecommerce, rapid urbanization, the emergence of multiple sports channels, and high spending on sponsorships.
The sports market size is expected to see strong growth in the next few years. It will grow to $629.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increase in internet accessible devices, favorable government initiatives and a rise in sports tourism. Major trends in the forecast period include increasing adoption of ar and vr, launch of sports streaming apps, adoption of contactless technologies, mobile ticketing, focusing on social media users, use of analytics for pricing tickets, combined fitness formats for better workouts, mobile training apps, use of technology to elevate skier experience, personalized fan engagement, fusion of sports and entertainment, sponsorships to partnerships, corporate social responsibility (csr) and sustainability, focusing on different demographic groups, technology utilization in bowling centers and combining other activities with bowling..
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 was 3.7% in 2019 and 2020 and 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 sports.
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The sports market covered in this report is segmented –
1) By Type: Spectator Sports, Participatory Sports
2) By Revenue Source: Media Rights, Merchandising, Tickets, Sponsorship
3) By Ownership: Chained, Standalone
Top Major Players:
Liberty Media Corporation
Life Time Group Hldgs
Futbol Club Barcelona
Maruhan
Topgolf Callaway Brands Corp
North America was the largest region in the sports market in 2023.
Sub segments: 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:
1. Executive Summary
2. Sports Market Characteristics
3. Sports Product/Service Analysis -Product/Service Examples
4. Sports Market Trends And Strategies
5. Sports Market – Macro Economic Scenario
…
68. Global Sports Market Competitive Benchmarking
69. Global Sports Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Sports Market
71. Sports Market Future Outlook and Potential Analysis
72. Appendix
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