Sports Market 2019 Global Trend, Segmentation and Opportunities, Forecast 2022
Sports Global Market Report 2019 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global sports market.
Where is the largest and fastest growing market for the sports market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global sports market report to 2022 report from the Business Research Company answers all these questions and many more.
Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/4009952-sports-global-market-opportunities-and-strategies-to-2022
This report describes and evaluates the market for sports globally. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global sports market reached a value of nearly $488.5 billion in 2018, having grown at a compound annual growth rate (CAGR) of 4.3% since 2014, and is expected to grow at a CAGR of 5.9% to nearly $614.1 billion by 2022.
Growth in the historic period resulted from the emerging markets growth and rapid urbanization. Factors that negatively affected growth in the historic period were unfavorable climate changes and shortages of sports professionals. Going forward, increasing sports sponsorships, growing popularity of esports, economic growth, an increase in the number of Internet accessible devices and the emergence of multiple sports channels to capture viewership will drive growth. Factors that could hinder the growth of this market in the future are an increasing threat from home entertainment and increasing regulations on sports.
The sports market is segmented by type of engagement into participatory sports and spectator sports. The participatory sports market accounted for the largest share of the sports market in 2018 at 56.4%. The spectator sports market is expected to be the fastest-growing segment going forward at a CAGR of 5.9%.
The spectator sports market is segmented by type into sports teams and clubs, and racing and individual sports. The sports teams and clubs market accounted for the largest share of the spectator sports market in 2018 at 72.5%. It is expected to grow the fastest going forward at a CAGR of 6.8%.
The participatory sports market is segmented by type into fitness and recreational sports centers, golf courses and country clubs, and others – participatory sports, marinas, bowling centers, and skiing facilities. The fitness and recreational sports centers market accounted for the largest share of the participatory sports market in 2018 at 39.8%. The others – participatory sports market is expected to grow the fastest going forward at a CAGR of 8.4%.
The sports market is also segmented by type of revenue source into gate revenue, media rights, sponsorship and merchandising. The sports market by media rights was the largest segment of the sports market in 2018 at 23.7%. The sports market by merchandising is expected to be the fastest-growing segment going forward at a CAGR of 7.0%.
North America was the largest market for the sports industry, accounting for 30.50% of the global market. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, Asia-Pacific and the Middle East will be the fastest growing regions in this market, where growth will be at CAGRs of 9.04% and 6.2% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 6.0% and 5.30% respectively.
The sports market is highly fragmented, with a large number of small players. The top ten competitors in the market made up 1.66% of the total in 2018. Players in the market include Life Time Fitness, Inc., Maruhan, Dallas Cowboys, Futbol Club Barcelona, and Manchester United Football Club.
The global recreation market, of which the sports market is a segment, reached a value of nearly $1,435.4 billion in 2018, having grown at 4.5% since 2014. It is expected to grow at a compound annual growth rate (CAGR) of 6.0% to nearly $1,809.8 billion by 2022. The sports market was the second largest segment in the global recreation market in 2018, accounting for 34.0% of the recreation market. The amusements market was the largest segment of the recreation market accounting for 35.6% of the recreation market, and was worth $511.3 billion globally, having grown at a CAGR of 4.5% during the historic period. It is expected to grow the fastest at a CAGR of 6.3% during the forecast period.
The top opportunities in the sports market will arise in participatory sports, which will gain $70.17 billion of global annual sales by 2022. The sports market size will gain the most in the USA at $31.83 billion. Market-trend-based strategies for the sports market include offering mobile ticketing facility to reduce costs associated with ticketing and facilitate faster access, providing virtual reality technology to enhance spectator experience at stadiums, expanding/establishing sports businesses in emerging markets and acquiring or establishing esports teams to lay a footfall in the emerging esports industry. Players adopted strategies in the sports industry include expanding business by building new facilities in cities globally, increasing revenue sources by investing in infrastructure for training and other recreational purposes, increasing revenue by investing in new infrastructure and improving brand name and international presence, increasing revenue through increasing sponsor portfolios and merchandise sales.
To take advantage of the opportunities, The Business Research Company recommends the sports companies to consider adopting mobile technologies at the supply and demand sides, adding elements of entertainment to sports events, combining different sports formats to keep customers entertained, expanding in emerging economies, offering competitive pricing, partnering with big brands, and offering goods and services to women among others
For further information on this report, visit – https://www.wiseguyreports.com/reports/4009952-sports-global-market-opportunities-and-strategies-to-2022
Name: Norah Trend
Email: Send Email
Organization: WISEGUY RESEARCH CONSULTANTS PVT LTD
Address: Office No. 528, Amanora Chambers Pune – 411028 Maharashtra, India
Phone: +1 (339) 368 6938 (US), +44 208 133 9349 (UK)
Release ID: 511662