Global Sports Market Trends And Strategies Of Major Players In The Sports Market 2021-2030
14 Jan, 2021
The sports market consists of sales of sports services and related goods by entities (organizations, sole traders and partnerships) that offer spectator sports and participatory sports. Spectator sports includes teams or clubs and independent athletes that present sporting events before a paying audience. The racing team owners of racing participants that enter the participants into racing events or other spectator sports events and the sports trainers who provide specialized services to support participants in sports events or competitions are part of this industry. The establishments that operate race tracks are also included in this industry.
Global Sports Market Size And Drivers:
The global sports market reached a value of nearly $388.3 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.4% since 2015. The market declined from $458.8 billion in 2019 to $388.3 billion in 2020 at a rate of -15.4%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to reach $599.9 billion by 2025, and $826.0 billion by 2030. at a compound annual growth rate (CAGR) of 6.6%. Emergence of e sports, rising sponsorships, and increase in internet accessible devices will drive the growth.
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Trends In The Global Sports Market
The emergence of e-sports is a rising trend in the market. Esports or electronic sports are team-based sports played online and are supported by electronic systems in which all the functions are performed through a human-computer interface.
Global Sports Market Segments:
The global sports market is further segmented based on type, revenue source and geography.
By Type: Participatory Sports And Spectator Sports.
By Revenue Source: Media Rights, Sponsorship, Merchandising And Tickets.
By Geography: The global sports market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the North American sports market accounts for the largest share of 35% in the global sports market 2020.
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Sports Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides sports market overviews, analyzes and forecasts market size and growth for the global sports market, sports market share, sports market players, sports market segments and geographies, sports market’s leading competitors’ revenues, profiles and market shares. The sports market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.