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Sports Sponsorship Market 2024 | Market Size, Industry Trends, Share, Market Analysis, Key Drivers, Top Major Players And Forecast To 2033
Sports Sponsorship Market
As per the report, the sports sponsorship market size has grown strongly in recent years. It will grow from $63.74 billion in 2023 to $67.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The sports sponsorship market size is expected to see strong growth in the next few years. It will grow to $84.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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Rising Number Of Sports Events To Drive Market Growth
The growing number of sports events is expected to propel the growth of the sports sponsorship market going forward. The number of sports events has been increasing steadily in recent years due to several reasons such as the growing popularity of sports and the increased availability of resources for organizing events. Additionally, the globalization of sports has made it possible for sports to reach a wider audience and gain greater recognition worldwide. This has attracted sponsors to provide monetary sponsorships and promote their brand and products through advertisements. For instance, according to Tourism Economics, a Philadelphia-based information services company, in 2020, there were 96 million travelers attending sports events in the USA and the number rose to 175 million travelers in 2021. Therefore, the growing number of sports events will drive the growth of the sports sponsorship market.
Technological Advancements Driving Innovation In Sports Sponsorship Market
Technological advancements are a key trend gaining popularity in the sports sponsorship market. Companies operating in the sports sponsorship market are adopting new technologies to grow in the market. For instance, in October 2022, Meta, a US-based technology company, launched Xtadium VR (virtual reality) app for its Oculus Quest 2 headset. Xtadium is a platform that provides VR streams of sports events in 180 degrees and up to 8K video quality. The platform includes real-time statistical overlays and offers eight different camera angles, providing a more personalized viewing experience for the users. It allows users to watch live events, on-demand replays, and immersive highlights. The goal of Xtadium is to use VR technology to emulate the experience of being at a sporting event as closely as possible.
The sports sponsorship market covered in this report is segmented -
1) By Type: Signage, Digital Activation, Club And Venue Activation, Other Types
2) By Application: Competition Sponsorship, Training Sponsorship, Other Applications
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Major companies operating in the sports sponsorship market report are Adidas AG, Nike Inc., PepsiCo Inc., Rolex SA, The Coca-Cola Company, Puma SE, Samsung Electronics Co Ltd., Castrol Limited, Tata Group, Reliance Jio Infocomm Limited, Intel Corporation, Qatar Airways Group Q.C.S.C., Hero MotoCorp Ltd., Hyundai Motor Company, Nissan Motor Co Ltd., Reebok International Ltd., Red Bull GmbH, Optimum Nutrition Inc., DICK'S Sporting Goods Inc., State Farm Mutual Automobile Insurance Company, Anheuser-Busch InBev SA/NV, Ford Motor Company, FedEx Corporation, Molson Coors Brewing Company, General Motors Company, Toyota Motor Corporation, Heineken N.V., Visa Inc., Mastercard Incorporated, American Express Company, Emirates Airline, Etihad Airways PJSC, Flydubai
Contents of the report:
1. Executive Summary
2. Sports Sponsorship Market Report Structure
3. Sports Sponsorship Market Trends And Strategies
4. Sports Sponsorship Market - Macro Economic Scenario
5. Sports Sponsorship Market Size And Growth
…..
27. Sports Sponsorship Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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