What Has Been Sports Market in Recent Years?
The sports market has seen considerable growth due to a variety of factors.
• The scale of the sports market has seen robust growth lately. The market will flourish from $477.8 billion in 2024 to $507.69 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.3%.
The substantial development in the past can be credited to powerful economic advancements in budding markets, swift ecommerce growth, accelerated urbanization, the rise of numerous sports channels, and significant expenditure on sponsorships.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Sports Market?
The sports market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the sports market is projected to witness significant expansion in the next couple of years, with a forecasted value of $635.42 billion by the year 2029, experiencing a compound annual growth rate of 5.8%.
The projected rise in the forecast period can be credited to the increase in devices with internet access, supportive government policies, and a growth in sports tourism. Noteworthy trends for the forecast period consist of a rise in the implementation of augmented and virtual reality, the launch of sports streaming applications, the embracing of contactless technologies and mobile ticketing, attention towards social media users, use of data analytics for ticket pricing, combined fitness regimens for improved workouts, mobile training applications, the use of technology to enhance the skier's experience, customized fan interactions, the merging of sports and entertainment, transition from sponsorships to partnerships, emphasis on corporate social responsibility and sustainability, targeting of different demographic groups, the use of technology in bowling facilities, and integrating other activities with bowling.
What Are The Leading Drivers Of Growth In The Sports Market?
The steady economic growth predicted for several developed and developing nations is anticipated to enhance the market. For example, the baseline forecast issued by the International Monetary Fund (IMF), a US-based government institution, in April 2024 indicates an anticipated global economic growth rate of 3.2 percent across both 2024 and 2025, mimicking the pace of 2023. A minor spike in growth is projected for developed economies, increasing from 1.6 percent in 2023 to 1.7 percent in 2024 and eventually hitting 1.8 percent in 2025. Indian growth is envisaged to hold strong at 6.8 percent in 2024. This ongoing economic growth is likely to stimulate sports demand.
What Are The Key Segments Within The Global Sports Market?
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
Subsegments:
1) By Spectator Sports: Professional Sports Leagues, Major Sporting Events, Esports And Competitive Gaming, Racing Events
2) By Participatory Sports: Recreational Sports, Team Sports, Individual Sports, Fitness And Wellness Activities
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How Are New Trends Impacting The Size Of The Sports
The use of virtual reality (VR) technology in sports management is becoming increasingly prevalent to enhance spectators' viewing experiences at games. Virtual reality creates an illusion of physical existence in a made-up environment by generating visuals, auditory elements, and other sensory perceptions. Sports teams and clubs are exploring and experimenting with simulation technologies and 360-degree settings to augment the viewers' game-watching experiences. They achieve this by enabling viewers to undertake a virtual tour of the stadium or race track, while also providing an experience from various viewing angles. For example, the NBA match featuring the Sacramento Kings and the San Antonio Spurs was broadcast in VR. Meanwhile, NASCAR has implemented VR to create an immersive fan zone at the racing circuits.
Who Are the Key Players in the Sports Market?
Major companies operating in the sports market include:
• Liberty Media Corporation
• Life Time Group Hldgs
• Futbol Club Barcelona
• Maruhan
• Topgolf Callaway Brands Corp
• Dallas Cowboys
• Manchester City F.C.
• Real Madrid C.F.
• Heiwa Corporation
• Manchester United Plc
• Guangzhou Evergrande Taobao
• Shandong Luneng Taishan
• Dalian Shide
• Liaoning Football Club
• Beijing Guoan
• Shanghai SIPG
• Jiangsu Suning
• Shanghai Greenland Shenhua
• Hebei China Fortune
• Tianjin Teda
• Chongqing Lifan
• Mumbai Indians
• Kolkata Knight Riders
• Kings XI Punjab
• Chennai Super Kings
• Jaipur Pink Panthers
• Chennaiyan FC
• Mumbai City FC
• Atletico de Kolkata
• FC Goa
• Urawa Red Diamonds
• FC Bayern Munich
• Paris Saint-Germain F.C
• Borussia Dortmund
• Juventus F.C.
• A.C. Milan
• Liverpool F.C
• Arsenal F.C
• Chelsea F.C.
• PFC CSKA Moscow
• FC Zenit Saint Petersburg
• FC Lokomotiv Moscow
• FC Spartak Moscow
• FC Anzhi Makhachkala
• Toronto Raptors
• Toronto Maple Leafs
• Toronto Blue Jays
• Montreal Canadien
• Vancouver Canucks
• Edmonton Oilers
• Calgary Flames
• Ottawa Senators
• Toronto FC
• C.F. Monterrey
• Tigres UANL
• New York Knicks
• New York Giants
• Los Angeles Lakers
• Golden State Warriors
• Philadelphia Eagles
• Boston Celtics
• San Francisco Giants
• New York Yankees
• Los Angeles Dodgers
• Houston Texans
• New England Patriots
• Los Angeles Rams
• Clube de Regatas do Flamengo
• Sociedade Esportiva Palmeiras
• Sport Club Corinthians Paulista
• Santos Futebol Clube
• Al Hilal Club
• Al-Nassr Football Club
• Al-Ahli Saudi FC
• Al-Ittihad Club
• Maccabi Tel Aviv F.C.
• Hapoel Be'er Sheva F.C.
• Al Ahly
• Espérance Sportive de Tunis
• Club Africain
• Kaizer Chiefs
• Mamelodi Sundowns
• Springboks
What are the Regional Insights into the Sports Market?
North America was the largest region in the sports market in 2024. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the sports market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
