Sports Market Definition

Amusement Parks And Arcades Market Characteristics

Gambling Market Definition

Recreation refers to all the activities that people choose to refresh their minds and bodies and make their free time more enjoyable and interesting. Recreation improves concentration skills and the ability to manage anxiety and stress. Enhanced social skills develop skills such as cooperation and teamwork, and a great way to have fun, meet new people and develop friendships. The main types of recreation are amusements, arts, and sports. Sports services provide live sporting events before a paying audience or entities that operate golf courses and country clubs, skiing facilities, marinas, fitness and recreational sports centers, and bowling centers. The different age groups include aged 35 and younger, aged 35-54, aged 55 and older, and involve various revenue sources such as media rights, merchandising, tickets and sponsorship. The recreation market research report is one of a series of new reports from The Business Research Company that provides recreation market statistics, including recreation industry global market size, regional shares, competitors with a recreation market share, detailed recreation market segments, market trends, and opportunities, and any further data you may need to thrive in the recreation industry. This recreation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global recreation market grew from $1,443.83 billion in 2022 to $1,900.67 billion in 2023 at a compound annual growth rate (CAGR) of 31.6%. 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 recreation market is expected to grow to $2,194.09 billion in 2027 at a CAGR of 3.7%. The recreation market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) stated that the global GDP growth was 3.5% in 2020, up from 3.2% in 2019. Recovering commodity prices are further expected to aid market growth. Developed economies are also 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 by 7.2%, whereas China registered a GDP growth of 6.0% in 2020. Stable economic growth is expected in end-user markets, thereby driving the market during the forecast period. This continued economic growth is expected to increase investments in the end-user markets and be a driver of the recreation market as greater affluence allows consumers to visit recreation centers. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the recreation market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in the closure of recreational facilities such as amusement parks, museums, and casinos with countries entering a state of 'lockdown' and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the recreation market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience to customers. Virtual reality is a 3D, computer-generated environment that can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For instance, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi The Ride, which can reach speeds of more than 43 mph. Amusement park SeaWorld has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing in an amusement park. Universal Studios have The Walking Dead mazes with augmented reality elements. Major companies in the recreation market include China Sports Lottery, China Welfare Lottery, The Walt Disney Company, Sociedad Estatal Loterías y Apuestas del Estado S.A., Maruhan, Flutter Entertainment plc, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., CJ Corp, and Oriental Land Company Ltd. Asia-Pacific was the largest region in the recreation market in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the recreation market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the recreation market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The recreation market includes revenues earned by entities by operating amusements facilities, operating facilities or providing services for cultural, entertainment, and recreational interests, providing live sporting events before a paying audience, and operating golf courses and country clubs, skiing facilities, marinas, fitness, and recreational sports centers, and bowling centers. Gambling, except casino hotels, can also be considered to be part of the recreation market. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global recreation market is segmented - 1) By Type: Amusements, Arts, Sports 2) By Age Group: Aged 35 and Younger, Aged 35-54, Aged 55 and Older 3) By Revenue Source: Media Rights, Merchandising, Tickets and Sponsorship Subsegments Covered: Amusement Parks, Gambling, Museums, Historical Sites, Zoos, And Parks, Independent Artists And Performing Art Companies, Sports And Arts Promoters, Spectator Sports, Participatory Sports

Amusement is the state of experiencing hilarious and entertaining events or circumstances, and it is related to satisfaction, happiness, laughing, and pleasure. Amusement helps kids to create fun and enjoyment. The main types of amusement are amusement parks and gambling. Amusement parks are commercial enterprises that provide rides, games, and other sorts of entertainment. The several age groups include those below 25 years, 26 to 39 years, 40 to 59 years, and 60 to 74 years, and involve different visitor genders such as male and female. The amusements market research report is one of a series of new reports from The Business Research Company that provides amusements market statistics, including amusements industry global market size, regional shares, competitors with an amusements market share, detailed amusements market segments, market trends, and opportunities, and any further data you may need to thrive in the amusements industry. This amusements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global amusements market grew from $516.21 billion in 2022 to $809.01 billion in 2023 at a compound annual growth rate (CAGR) of 56.7%. 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 amusements market is expected to grow to $888.38 billion in 2027 at a CAGR of 2.4%. Increasing use of social media and access to mass media is positively influencing the amusement market. Visitors in amusement facilities such as amusement parks like sharing their experiences, photographs, and videos on social media platforms which helps other people know about the experiences offered by the amusement parks. According to a study conducted by Visa, a cards and payment company, 73% of Asians check in online while on a holiday, and as many as 71% of people share their experiences on social media sites. Social media is the most effective marketing tool for amusement facilities such as casinos and amusement parks to acquire new customers. Extensive use of social media is expected to drive the amusement market going forward. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the amusements market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in the closure of recreational facilities such as amusement parks, museums, and casinos with countries entering a state of 'lockdown', and the outbreak is hurt businesses throughout 2020 and into 2021. However, it is expected that the amusements market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience to customers. Virtual reality is a 3D, computer-generated environment that can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For instance, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi The Ride, which can reach speeds of more than 43mph. Amusement park SeaWorld has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing in an amusement park. Universal Studios have The Walking Dead mazes with augmented reality elements. Major companies in the amusements market include China Sports Lottery, China Welfare Lottery, The Walt Disney Company, Sociedad Estatal Loterías y Apuestas del Estado S.A., Maruhan, Flutter Entertainment plc, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., Oriental Land Company Ltd., and Penn National Gaming, Inc. Asia-Pacific was the largest region in the amusements market in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the amusements market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the amusements market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The amusements market includes revenues earned by entities by operating amusements facilities such as theme parks, water parks, amusement arcades, casinos, and sports betting facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global amusements market is segmented - 1) By Type: Amusement Parks, Gambling 2) By Age Group: Below 25 Years, 26 to 39 Years, 40 to 59 Years, 60 to 74 Years 3) By Visitors' Gender: Male, Female Subsegments Covered: Theme Parks, Water Parks, Amusement Arcades, Casino, Lotteries, Sports Betting, Other Gambling

A spectator sport is one in which spectators, or observers, attend matches such as American football, association football, baseball, basketball, Canadian football, cricket, field hockey, formula 1, ice hockey, rugby league, rugby union, team handball, and volleyball. The main types of spectator sports are sports teams and clubs, racing, and individual sports. The various sources of revenue include media rights, merchandising, tickets, and sponsorship that are earned from different kinds of sports such as soccer, cricket, rugby/football, tennis, and others. Soccer is a team sport played on a field between two teams of 11 players each, to kick or hit a round ball into the opponent's goal with any part of the body except the hands and arms. The spectator sports market research report is one of a series of new reports from The Business Research Company that provides spectator sports market statistics, including spectator sports industry global market size, regional shares, competitors with a spectator sports market share, detailed spectator sports market segments, market trends and opportunities, and any further data you may need to thrive in the spectator sports industry. This spectator sports market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global spectator sports market grew from $174.28 billion in 2022 to $185.34 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. 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 spectator sports market is expected to grow to $233.35 billion in 2027 at a CAGR of 5.9%. 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 spectator sports. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the spectator sports market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in the closure of recreational facilities with countries entering a state of 'lockdown' and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the spectator sports market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. 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. Major companies in the spectator sports market include Liberty Media Corporation, Futbol Club Barcelona, Dallas Cowboys, Manchester City F.C., New York Yankees, Manchester United Football Club, Juventus, International Speedway Corporation, Los Angeles Dodgers, LLC, and Real Madrid C.F. North America was the largest region in the spectator sports market in 2022. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the spectator sports market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the spectator sports market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The spectator sports market includes revenues earned by entities such as teams or clubs that participate in live sporting events for a paying audience. Spectator sports include the presentation of sporting events by teams and clubs or independent athletes. Owners of teams, horses, and so on that enter 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 racetracks are also included in this industry. The market covered in this report includes the revenues generated from the sales of tickets for spectator sports events, merchandise, and other related goods and services through online and offline channels. It also includes the revenues generated from the sponsorships of sports clubs and teams, and media and broadcasting rights revenues by the spectator sports organizers. The market covered in this report also includes sales of sports services and related goods by entities that participate in the provision of sports. The market covered in this report includes the revenues generated from the sales of sports players by sports teams/clubs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global spectator sports market is segmented - 1) By Type: Sports Team & Clubs, Racing & Individual Sports 2) By Revenue Source: Media Rights, Merchandising, Tickets, Sponsorship 3) By Type of Sport: Soccer, Cricket, Rugby/Football, Tennis, Other Sports Subsegments Covered: Football Clubs, Rugby Clubs, Other Sports Team & Clubs, Basketball Clubs, Motor Race, Horse Race, Other Racing & Individual Sports

Amusement is the state of experiencing hilarious and entertaining events or circumstances, and it is related to satisfaction, happiness, laughing, and pleasure. Amusement helps kids to create fun and enjoyment. The main types of amusement are amusement parks and gambling. Amusement parks are commercial enterprises that provide rides, games, and other sorts of entertainment. The several age groups include those below 25 years, 26 to 39 years, 40 to 59 years, and 60 to 74 years, and involve different visitor genders such as male and female. The amusements market research report is one of a series of new reports from The Business Research Company that provides amusements market statistics, including amusements industry global market size, regional shares, competitors with an amusements market share, detailed amusements market segments, market trends, and opportunities, and any further data you may need to thrive in the amusements industry. This amusements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global amusements market grew from $516.21 billion in 2022 to $809.01 billion in 2023 at a compound annual growth rate (CAGR) of 56.7%. 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 amusements market is expected to grow to $888.38 billion in 2027 at a CAGR of 2.4%. Increasing use of social media and access to mass media is positively influencing the amusement market. Visitors in amusement facilities such as amusement parks like sharing their experiences, photographs, and videos on social media platforms which helps other people know about the experiences offered by the amusement parks. According to a study conducted by Visa, a cards and payment company, 73% of Asians check in online while on a holiday, and as many as 71% of people share their experiences on social media sites. Social media is the most effective marketing tool for amusement facilities such as casinos and amusement parks to acquire new customers. Extensive use of social media is expected to drive the amusement market going forward. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the amusements market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in the closure of recreational facilities such as amusement parks, museums, and casinos with countries entering a state of 'lockdown', and the outbreak is hurt businesses throughout 2020 and into 2021. However, it is expected that the amusements market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience to customers. Virtual reality is a 3D, computer-generated environment that can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For instance, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi The Ride, which can reach speeds of more than 43mph. Amusement park SeaWorld has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing in an amusement park. Universal Studios have The Walking Dead mazes with augmented reality elements. Major companies in the amusements market include China Sports Lottery, China Welfare Lottery, The Walt Disney Company, Sociedad Estatal Loterías y Apuestas del Estado S.A., Maruhan, Flutter Entertainment plc, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., Oriental Land Company Ltd., and Penn National Gaming, Inc. Asia-Pacific was the largest region in the amusements market in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the amusements market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the amusements market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The amusements market includes revenues earned by entities by operating amusements facilities such as theme parks, water parks, amusement arcades, casinos, and sports betting facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global amusements market is segmented - 1) By Type: Amusement Parks, Gambling 2) By Age Group: Below 25 Years, 26 to 39 Years, 40 to 59 Years, 60 to 74 Years 3) By Visitors' Gender: Male, Female Subsegments Covered: Theme Parks, Water Parks, Amusement Arcades, Casino, Lotteries, Sports Betting, Other Gambling

Sports are group games and individual activities that involve physical activity and skills. Sports help to overcome adversities and win. Playing sports helps release pressure and tension in a healthy and controlled way, and improves mood, and concentration. The main types of sports are spectator sports and participatory sports. Spectator sports include the presentation of sporting events by teams and clubs or independent athletes. The various sources of revenue are media rights, merchandising, tickets, and sponsorship and involve different ownerships including chained, and standalone. The sports market research report is one of a series of new reports from The Business Research Company that provides sports market statistics, including sports industry global market size, regional shares, competitors with a sports market share, detailed sports market segments, market trends, and opportunities, and any further data you may need to thrive in the sports industry. This sports market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global sports market 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 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. 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. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the sports market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in the closure of recreational facilities with countries entering a state of 'lockdown' and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the sports market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. 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. Major companies in the market include Maruhan, Life Time Fitness, Inc., Liberty Media Corporation, Futbol Club Barcelona, Dallas Cowboys, Heiwa Corporation, Manchester City F.C., New York Yankees, Manchester United Football Club, and Juventus. North America was the largest region in the sports market in 2022. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the sports market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the sports market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The sports market includes revenues earned by entities by providing services like live sporting events before a paying audience or entities that operate golf courses and country clubs, skiing facilities, marinas, fitness, and recreational sports centers, and bowling centers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global 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