Global Sports Sponsorship Market Size 2024, Forecast To 2033
6 Mar, 2024
The sports sponsorship market has witnessed substantial growth, increasing from $63.74 billion in 2023 to $67.56 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.0%. The historical growth is attributed to factors such as brand visibility and recognition, fan engagement, the globalization of sports, the dominance of traditional media, and the influential role of social media. Looking ahead to 2028, the market is expected to experience strong growth, reaching $84.37 billion at a CAGR of 5.7%. Anticipated drivers of growth in the forecast period include immersive fan experiences, the integration of esports and gaming, personalized marketing, cross-platform integration, and innovative partnerships. Key trends during this period encompass digital transformation, esports integration, sustainability initiatives, personalized fan engagement, and the adoption of virtual and augmented reality.
Global Sports Sponsorship Market Key Driver
The increasing number of sports events is expected to drive the growth of the sports sponsorship market in the coming years. The rise in sports events can be attributed to factors such as the growing popularity of sports and increased resources for organizing events. Furthermore, the globalization of sports has expanded their reach, attracting a wider audience and garnering greater recognition globally. This trend has enticed sponsors to provide monetary sponsorships and promote their brands and products through advertisements. According to Tourism Economics, in 2020, there were 96 million travelers attending sports events in the USA, and this number surged to 175 million travelers in 2021. The significant increase in event attendance underscores the potential for sports sponsorship, making it a driving force for market growth. Market sizes for 2023, 2024, and 2028 will be pivotal in assessing the impact and potential trajectory of the sports sponsorship market.
Get A Free Sample Of The Global Sports Sponsorship Market ReportGlobal Sports Sponsorship Market Segments
The sports sponsorship market covered in this report is segmented –
1) By Type: Signage, Digital Activation, Club And Venue Activation, Other Types
2) By Application: Competition Sponsorship, Training Sponsorship, Other Applications
By Geography:The regions covered in the sports sponsorship market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the sports sponsorship market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global sports sponsorship market report during the forecast period. The regions covered in the sports sponsorship market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Sports Sponsorship Industry Players
Adidas AG, Nike Inc., PepsiCo Inc., Rolex SA, The Coca-Cola Company, Puma SE, Samsung Electronics Co Ltd., Castrol Limited, Tata Group, Reliance Jio Infocomm Limited, Intel Corporation, Qatar Airways Group Q.C.S.C., Hero MotoCorp Ltd., Hyundai Motor Company, Nissan Motor Co Ltd., Reebok International Ltd., Red Bull GmbH, Optimum Nutrition Inc., DICK'S Sporting Goods Inc., State Farm Mutual Automobile Insurance Company, Anheuser-Busch InBev SA/NV, Ford Motor Company, FedEx Corporation, Molson Coors Brewing Company, General Motors Company, Toyota Motor Corporation, Heineken N.V., Visa Inc., Mastercard Incorporated, American Express Company, Emirates Airline, Etihad Airways PJSC, Flydubai
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Sports Sponsorship Market Overview
Sports sponsorship is a form of marketing where a company or a brand provides financial or material support to a sports team, event, or athlete in exchange for exposure and brand awareness.
Sports Sponsorship Global Market Report 2023 provides data on the global sports sponsorship market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sports sponsorship market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.