Press release
Sports Market : Study Navigating the Future Growth Outlook | New York Yankees, Washington Redskins, The Pittsburgh Steelers
The Business Research Company
The global sports market reached a value of nearly $488.5 billion in 2018, having grown at a compound annual growth rate 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.
The Key drivers of the sports market include:-
Emergence Of Esports: During the forecast period, the growing popularity of esports events is expected to drive the global sports market. eSport or competitive video gaming is a multiplayer video game played competitively for spectators, typically by professional gamers. In 2017, the International Olympic Committee (IOC) declared esports to be considered as a sporting activity. In 2017, global eSport revenues reached $696 million, and they are expected to more than doubly by 2020 reaching $1.5 billion, driving the overall sports market.
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Sports Market Segmentation:-
By Type
1. Participatory Sports
2. Spectator Sports
Participatory sports had the highest growth rate of nearly 4.3% during the historic period.
Sub-Segmentation
By Type
1. Sports Teams & Clubs
2. Racing & Individual Sports
By Revenue Source
1. Media Rights
2. Merchandising
3. Tickets
4. Sponsorship
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By Geography - The sports market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the sports market are
1.Life Time Fitness, Inc.
2. Maruhan
3. Dallas Cowboys
4. Futbol Club Barcelona
5. Manchester United Football Club
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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