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The global sports events market size is estimated to grow by USD 107.28 billion between 2023 and 2028. The market is accelerating at a compound annual growth rate of 8.51%. The sports events market is a multi-billion dollar industry that encompasses professional sports competitions, tournaments, and championships. The market is highly competitive, with cities and countries bidding to host major sports events as they bring economic benefits and international visibility. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments. The report covers market trends and analysis and also includes an in-depth analysis of the increasing sports sponsorship spending, the integration of analytics with online ticket platforms, and the rising concerns about ticket counterfeiting for sports events.
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The sponsorships segment is estimated to witness significant growth during the forecast period. The need for sponsorship in sports events is fuelled by the fact that such sponsorship enables the sports organization to host its dream event, while athletes and sports event organizers can focus more on training and preparation than on sponsorship. In addition, major sponsorship partners can attract more viewers and more visitors to sports events, which translates into higher revenue. The sponsorships segment was the largest segment and was valued at USD 58.54 billion in 2018. Moreover, the sponsorship segment of the global market is expected to grow in the coming years due to the increasing number of sports events and the fact that sponsorship has a larger reach than traditional marketing strategies such as promotion and advertising. Furthermore, factors such as the increasing number of new sports leagues and the success of existing leagues are boosting the signage investment of sponsors, which is driving the growth of the segment. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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Based on the event type, the market has been segmented into soccer, cricket, tennis, and others. The soccer?segment will account for the largest share of this segment.
APAC is estimated to contribute 30% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The growth of the market in Europe is fuelled by the major sports events held in European countries, such as the ICC Cricket World Cup, the European Rugby Cup, and the Italian Basketball Cup. Moreover, the soccer leagues in England, Germany, Spain, Italy, and France constitute five of the ten highest revenue-generating leagues in the world. Therefore such sports events are expected to fuel the growth of the market in the region. In addition, the UK and Germany are major contributors to the market in Europe. Furthermore, the major reason for the rapid growth of the market in Europe is the growing tourism sector and the high acceptance of new developments and technological advances in the event industry. Hence, such factors are driving the market in Europe during the forecast period. Sports betting has seen a surge in popularity, driven in part by major sports events that attract large audiences and significant wagering activity.
In the global sports events market, stadiums host thrilling games and tournaments, attracting fans, athletes, and teams from around the world to compete in various competitions and championships. Organizers strategically plan marketing, promotions, and sponsorship to enhance spectator experiences and maximize revenue streams through broadcasting rights and merchandise sales. These events not only promote sportsmanship and entertainment but also create an atmosphere of excitement and adrenaline, offering hospitality services to ensure a memorable experience for all attendees. At major sports events, metal detectors are essential for ensuring security and safety by screening attendees for prohibited items and potential threats. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Rising spending on sports sponsorship emerges as a pivotal driver propelling market expansion. The surge in sponsorship expenditure profoundly shapes market dynamics, fostering continuous growth. Corporations increasingly acknowledge the extensive reach and emotional resonance of sports, leading them to allocate larger budgets for securing sponsorship agreements.
This upsurge in spending is primarily driven by the desire to enhance brand visibility, engage with diverse global audiences, and leverage the fervent fan base associated with major sports events. Notably, countries like China, the UAE, Australia, and the UK are witnessing notable increases in sports sponsorship spending. Consequently, these factors contribute to driving market growth throughout the forecast period.
A key factor shaping the market is the integration of analytics with online ticket platforms. The incorporation of analytics tools enables market players in the global market to automate their ticket services, which improves back-office operations. In addition, incorporating analytics with ticket platforms enhances back-end operations and helps reduce extra costs, such as marketing costs, as it helps companies reach relevant customers.
Moreover, analytics-integrated ticketing platforms improve the visibility of Companies in customer preferences. In addition, it helps them improve the decision-making process by enabling their event design department to process and analyze consumer preference-related data and transform it into actionable insights. Furthermore, it also offers real-time analyses to the Companies about event spending, and based on this, event organizers can modify their future events according to the budget and attendees' preferences. Hence, such factors are driving the market growth during the forecast period.
The rising concerns in ticket counterfeiting for sports events are one of the key challenges hindering the market growth. As per the NFL, there is a rise in the number of counterfeit football tickets sold each year. In addition, various other games, such as hockey, baseball, Ultimate Fighting Championship (UFC), cricket, and tennis, also face this challenge.
Moreover, there is a significant rise in the number of unethical activities related to the ticket sales of large events, such as sports events such as World Cup tournaments across the world. In addition, the tickets for sports events are sold at very high prices. Furthermore, owing to this, many consumers tend to buy secondary tickets. Most of the ticket resale transactions are legitimate, but some involve ticket scammers. Hence, such factors are hindering the market growth during the forecast period.
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Companies are implementing various market strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Ace Ticket LLC: The company offers sports events services such as a vast selection of NBA tickets with prices guaranteed on authentic NBA tickets with one of the most experienced ticket providers around.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Adidas AG, Anschutz Entertainment Group Inc., Bigtree Entertainment Pvt. Ltd., Liberty Media Corp., Nike Inc., One97 Communications Ltd., Platinium Group SAM, SeatGeek Inc., TEG Pty Ltd., The Walt Disney Co., Ticket City Inc., Tickets.com LLC, TickPick LLC, TiqIQ LLC, Viagogo Entertainment Inc., and Vivid Seats Inc.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Global Sports Events Market thrives on the popularity of various sports, attracting millions of fans and spectators worldwide. With engaging content and exciting products, sports events leverage social media platforms to connect with audiences and provide captivating experiences. Held in iconic stadiums and venues, these events feature intense competition between renowned teams, generating unparalleled excitement and adrenaline. They offer opportunities for promotions and extensive broadcasting, enhancing sportsmanship and crowning champions in prestigious championships. Beyond the thrill, sports events drive economic activity, boosting the hospitality and merchandise sectors and contributing to the tourism industry. Effective event management and strategic marketing initiatives ensure optimal ticket prices and maximize the economic impact of these global sports extravaganzas.
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Sports Events Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2023 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.51% |
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Market Growth 2024-2028 |
USD 107.28 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
7.69 |
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Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 30% |
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Key consumer countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Ace Ticket LLC, Adidas AG, Anschutz Entertainment Group Inc., Bigtree Entertainment Pvt. Ltd., Liberty Media Corp., Nike Inc., One97 Communications Ltd., Platinium Group SAM, SeatGeek Inc., TEG Pty Ltd., The Walt Disney Co., Ticket City Inc., Tickets.com LLC, TickPick LLC, TiqIQ LLC, Viagogo Entertainment Inc., and Vivid Seats Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Revenue Stream
7 Market Segmentation by Event Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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