U.S. & India Sports Graphics Market by Service, Forecast & top key players, 2023
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Technological advancements in sports graphics such as hawk-eye to project the path of a ball, and video refereeing and others have significantly enhanced the spectators’ experience. In addition, greater focus on fan engagement & marketing through social media & other promotional platforms, high penetration of internet & digital audience, globalization in business, and increase in female viewership supplement the sports graphics market. Leading manufacturers, distributors, and service providers such as Adidas AG, Reebok International Ltd., Nike Inc., Sapardis SE (Puma SE), Amazon.com, Inc., and others have started venturing beyond national boundaries to tap various business opportunities.
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The sports apparel & accessories generated the maximum revenue in 2016 in the U.S. Sports graphics market. This was due to rise in health and wellness trend. Consumers are notably wearing sports apparel and footwear for daily activities. In addition, ongoing casualization of dress codes further boosts the adaptation rate of sportswear among consumers. Moreover, several players in the sports graphics market promote “athleisure” fashion. This segment offers low-cost comfortable sports-inspired apparel and is gaining popularity among the teens and college students. Some of the key players in this market segment include Nike Inc., Adidas AG., VF Corp., Sapardis SE (Puma SE), Asics, Jarden, New Balance, Amer Sports, and Under Armour.
The U.S. Sports Graphics Market size is expected to reach $2,656 million by 2023, registering a CAGR of 3.1% from 2017 to 2023. However, the India sports graphics market is expected to account for $1,612 million by 2023, registering a CAGR of 13.1%. Sports graphics market includes various services, namely, designing and printing of varied types of sports apparels such as vests, shorts, caps, hats, jerseys, and others.
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The U.S. & India sports graphics market is segmented on the basis of service, application, and country. Based on service, it is divided into digital printing, screen printing embroidery, and others. Based on application, the market is classified into promotional products and sports, apparels, and accessories. The promotional products segment is expected to grow at the fastest rate in the Indian sports graphics market, attributed to increase in competition among the business organizations. India has a population of more than 1.3 million; this vast population base thus offers a lucrative opportunity for enterprises across several industries to gain high market share.
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