Global Sports Market Size 2024, Forecast To 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 e-commerce, 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 an 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.