Sports: Global Market Insights and Opportunities 2024-2033

The sports market size has grown strongly in recent years. It will grow from $480.12 billion in 2023 to $506.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid growth in ecommerce, rapid urbanization, the emergence of multiple sports channels, and high spending on sponsorships.

The sports market size is expected to see strong growth in the next few years. It will grow to $629.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increase in internet accessible devices, favorable government initiatives and a rise in sports tourism. Major trends in the forecast period include increasing adoption of ar and vr, launch of sports streaming apps, adoption of contactless technologies, mobile ticketing, focusing on social media users, use of analytics for pricing tickets, combined fitness formats for better workouts, mobile training apps, use of technology to elevate skier experience, personalized fan engagement, fusion of sports and entertainment, sponsorships to partnerships, corporate social responsibility (csr) and sustainability, focusing on different demographic groups, technology utilization in bowling centers and combining other activities with bowling..

Market Overview -
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.

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Economic Growth And Its Influence On The Global Sports Market
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.

Competitive Landscape -
Major companies operating in the sports market report are Liberty Media Corporation, Life Time Group Hldgs, Futbol Club Barcelona, Maruhan, Topgolf Callaway Brands Corp, Dallas Cowboys, Manchester City F.C., Real Madrid C.F., Heiwa Corporation, Manchester United Plc, Guangzhou Evergrande Taobao, Shandong Luneng Taishan, Dalian Shide, Liaoning Football Club, Beijing Guoan, Shanghai SIPG, Jiangsu Suning, Shanghai Greenland Shenhua, Hebei China Fortune, Tianjin Teda, Chongqing Lifan, Mumbai Indians, Kolkata Knight Riders, Kings XI Punjab, Chennai Super Kings, Jaipur Pink Panthers, Chennaiyan FC, Mumbai City FC, Atletico de Kolkata, FC Goa, Urawa Red Diamonds, FC Bayern Munich, Paris Saint-Germain F.C, Borussia Dortmund, Juventus F.C., A.C. Milan, Liverpool F.C, Arsenal F.C, Chelsea F.C., PFC CSKA Moscow, FC Zenit Saint Petersburg, FC Lokomotiv Moscow, FC Spartak Moscow, FC Anzhi Makhachkala, Toronto Raptors, Toronto Maple Leafs, Toronto Blue Jays, Montreal Canadien, Vancouver Canucks, Edmonton Oilers, Calgary Flames, Ottawa Senators, Toronto FC, C.F. Monterrey, Tigres UANL, New York Knicks, New York Giants, Los Angeles Lakers, Golden State Warriors, Philadelphia Eagles, Boston Celtics, San Francisco Giants, New York Yankees, Los Angeles Dodgers, Houston Texans, New England Patriots, Los Angeles Rams, Clube de Regatas do Flamengo, Sociedade Esportiva Palmeiras, Sport Club Corinthians Paulista, Santos Futebol Clube, Al Hilal Club, Al-Nassr Football Club, Al-Ahli Saudi FC, Al-Ittihad Club, Maccabi Tel Aviv F.C., Hapoel Be'er Sheva F.C., Al Ahly, Espérance Sportive de Tunis, Club Africain, Kaizer Chiefs, Mamelodi Sundowns, Springboks.

Improving The Experiences Of Fans Virtual Reality Is Being Incorporated Into Sporting Events
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.

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Key Segments -

The sports market covered in this report is segmented -

1) By Type: Spectator Sports, Participatory Sports
2) By Revenue Source: Media Rights, Merchandising, Tickets, Sponsorship
3) By Ownership: Chained, Standalone

Sub segments: Sports Team & Clubs, Racing & Individual Sports, Golf Courses And Country Clubs, Skiing Facilities, Marinas, Fitness And Recreational Sports Centers, Bowling Centers, Other Participatory Sports

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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