Global Sports Market Forecast to 2032: Sector is Expected to Reach $623.63 Billion in 2027 at a CAGR of 5%
Global Sports Market
Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Sports Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.
The global sports market grew from $486.61 billion in 2022 to $512.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The sports market is expected to grow to $623.63 billion in 2027 at a CAGR of 5.0%.
Major companies in the market include Maruhan, Life Time Fitness, Inc., Liberty Media Corporation, Futbol Club Barcelona, Dallas Cowboys, Heiwa Corporation, Manchester City F.C., New York Yankees, Manchester United Football Club, and Juventus.
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The main types of sports are spectator sports and participatory sports. Spectator sports include the presentation of sporting events by teams and clubs or independent athletes. The various sources of revenue are media rights, merchandising, tickets, and sponsorship and involve different ownerships including chained, and standalone.
The sports market research report is one of a series of new reports that provides sports market statistics, including sports industry global market size, regional shares, competitors with a sports market share, detailed sports market segments, market trends, and opportunities, and any further data you may need to thrive in the sports industry. This sports market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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.
North America was the largest region in the sports market in 2022. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the sports market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the sports market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
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.
The sports market includes revenues earned by entities by providing services like live sporting events before a paying audience or entities that operate golf courses and country clubs, skiing facilities, marinas, fitness, and recreational sports centers, and bowling centers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Sports Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Sports Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Sports Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Sports Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Sports Market Trends And Strategies
8. Sports Market - Macro Economic Scenario
8.1 COVID-19 Impact On Sports Market
8.2 Ukraine-Russia War Impact On Sports Market
8.3 Impact Of High Inflation On Sports Market
9. Sports Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Sports Market Regional Analysis
10.1. Global Sports Market, 2022, By Region, Value ($ Billion)
10.2. Global Sports Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
10.3. Global Sports Market, Growth And Market Share Comparison, By Region
11. Sports Market Segmentation
11.1. Global Sports Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.2. Global Sports Market, Segmentation By Revenue Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.3. Global Sports Market, Segmentation By Ownership, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Sports Market Segments
12.1. Global Spectator Sports Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Sports Team & Clubs; Racing & Individual Sports
12.2. Global Participatory Sports Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Golf Courses And Country Clubs; Skiing Facilities; Marinas; Fitness And Recreational Sports Centers; Bowling Centers; Other Participatory Sports
13. Sports Market Metrics
13.1. Sports Market Size, Percentage Of GDP, 2017-2027, Global
13.2. Per Capita Average Sports Market Expenditure, 2017-2027, Global
For more information about this report visit https://www.researchandmarkets.com/r/o6z0yt
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