2019 Sports Market By Type, By Competitive Analysis and By Geography

The global sports market reached a value of nearly $488.5 billion in 2018, having grown at a compound annual growth rate (CAGR) of 4.3% since 2014.

Growth in the historic period resulted from the emerging markets growth and rapid urbanization. Factors that negatively affected growth in the historic period were unfavorable climate changes and shortages of sports professionals.

Going forward, increasing sports sponsorships, growing popularity of esports, economic growth, an increase in the number of Internet accessible devices and the emergence of multiple sports channels to capture viewership will drive growth. Factors that could hinder the growth of this market in the future are an increasing threat from home entertainment and increasing regulations on sports.

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Sports organizers and race organizers are implementing mobile ticketing to provide hassle free ticket purchase experience. Mobile ticketing is the process where customers can buy and validate the tickets using mobile phones. Event organizers production and distribution costs associated with traditional paper-based ticketing channels is eliminated with the implementation of mobile ticketing. Apart from this, the data exchanged digitally through ticket transactions enables sports organizers to learn more about fans and generate insights to formulate marketing strategies from the database. For instance, Barcelona implemented mobile ticketing and eliminated paper tickets by introducing a new system that allows fans to scan a bar-code on their phones gain access to matches. Pocono Raceway launched a mobile ticket delivery system that allows fans to have their ticket delivered to their mobile device and have their ticket scanned at the gate directly from their mobile device.

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The sports industry 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.

Read More On The Global Recreation Market Report At
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The sports market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth by geography. It places the market within the context of the wider recreation market, and compares it with other markets.

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