Global Sports Market Size 2024, Forecast To 2033
11 Mar, 2024
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.
Global Sports Market Key Driver
The spinal surgery devices and equipment market is poised to benefit from the steady economic growth projected across numerous developed and developing countries. The International Monetary Fund (IMF) reported a 3.7% global real GDP growth in 2019 and 2020, with a slightly lower rate of 3.6% anticipated from 2021 to 2023. Stable economic growth, along with recovering commodity prices, is expected to be a significant driver. The US economy is predicted to sustain stable growth, while emerging markets are poised to outpace developed markets. India experienced an 8.7% GDP growth in 2021-22, showcasing a 1.5% increase compared to 2019-20, and China recorded an 8.1% GDP growth in 2021. This ongoing economic growth is anticipated to stimulate demand within the market. The market sizes for 2023, 2024, and 2028 mirror the positive economic outlook influencing market dynamics.
Get A Free Sample Of The Global Sports Market ReportGlobal Sports Market 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
By Geography:The regions covered in the sports market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
North America was the largest region in the sports market in 2023. 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
Major Sports Industry Players
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.
Get The Full Global Sports Market ReportSports 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.
Sports Global Market Report 2023 provides data on the global sports market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sports market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.