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Leading Growth Driver in the Sports Market in 2025: Economic Growth And Its Influence On The Global Sports Market Driver's Influence
Sports
The steady economic surge forecasted in numerous developed and developing nations is poised to favorably influence the market. The International Monetary Fund (IMF), based in the US, suggests that the global economy is set to rise by 3.2 percent in both 2024 and 2025, mirroring the growth pace witnessed in 2023, as per their baseline predictions made in April 2024. A slight acceleration in growth is anticipated in advanced economies, with an increase from 1.6 percent in 2023, to 1.7 percent in 2024, and further to 1.8 percent in 2025. India's growth is envisaged to remain robust, pegged at 6.8 percent in 2024. This consistent economic progress is likely to stimulate the demand for sports.
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How will the growth rate of the sports market shape industry trends by 2034?
The size of the sports market has seen considerable growth in the last few years. It is anticipated to escalate from $477.8 billion in 2024 to about $507.69 billion in 2025, projecting a compound annual growth rate (CAGR) of 6.3%. The surge during the historical period can be credited to robust economic development in the nascent markets, swift expansion in ecommerce, accelerated urbanization, the rise of several sports channels, and substantial expenditure on sponsorships.
The anticipation for a significant increase in the sports market size over the next few years is high, with predictions of it expanding to $635.42 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 5.8%. This surge during the projection period can be credited to the higher number of devices with internet availability, supportive governmental interventions, and an upswing in sports tourism. The predictive timeframe also indicates major trends such as increased use of augmented and virtual reality, the unveiling of sports streaming applications, contactless technology adoption, mobile ticketing, targetting social media audiences, utilizing analytics for ticket price determination, hybrid fitness regimes for improved workout sessions, mobile exercising apps, advanced technology for enhancing skiing experiences, individualized fan engagement, amalgamation of sports and entertainment sector, evolution of sponsorships into partnerships, Corporate Social Responsibility (CSR) and sustainability focuses, targeting diverse demographic groups, innovative uses of technology in bowling arenas, and the incorporation of other activities alongside bowling.
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What new trends are reshaping the sports market and its opportunities?
Organizers of sporting events are integrating virtual reality (VR) applications to upgrade the viewing experience of the spectators. VR can create imagery, auditory elements, and other stimuli which mirror being physically present in a fictive ambiance. Various sports clubs and squads are experimenting with simulated and 360-degree environments to intensify the spectator's viewing encounters, giving them a virtual tour of the sports arena or race circuit and an opportunity to view the game from various perspectives. For example, the NBA match featuring the Sacramento Kings verses the San Antonio Spurs was transmitted using VR technology. Similarly, NASCAR has built an interactive fan zone at their race tracks by employing virtual reality.
Which primary segments of the sports market are driving growth and industry transformations?
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
Subsegments:
1) By Spectator Sports: Professional Sports Leagues, Major Sporting Events, Esports And Competitive Gaming, Racing Events
2) By Participatory Sports: Recreational Sports, Team Sports, Individual Sports, Fitness And Wellness Activities
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Which geographical regions are pioneering growth in the sports market?
North America was the largest region in the sports market in 2024. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the sports market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the sports market landscape?
Major companies operating in the sports market include 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
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What Is Covered In The Sports Global Market Report?
• Market Size Forecast: Examine the sports market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the sports market for a structured understanding.
• Key Players Overview: Analyze major players in the sports market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the sports market.
• Segment Contributions: Evaluate how different segments drive overall growth in the sports market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the sports market.
• Industry Challenges: Identify potential risks and obstacles affecting the sports market.
• Competitive Landscape: Review strategic developments in the sports market, including expansions, agreements, and new product launches.
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