Dublin, May 21, 2024 (GLOBE NEWSWIRE) -- The "Sports Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the sports market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region. 
The global sports market reached a value of nearly $484.9 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.6% since 2018. The market is expected to grow from $484.9 billion in 2023 to $651 billion in 2028 at a rate of 6.1%. The market is then expected to grow at a CAGR of 5.8% from 2028 and reach $862.6 billion in 2033.
Growth in the historic period resulted from strong economic growth in emerging markets, increase in internet accessible devices, emergence of multiple sports channels and high spending on sponsorships. Factors that negatively affected growth in the historic period was shortage of sports officials and increase in regulations on sports.
Going forward, rise in sports tourism, rise in e-commerce platforms, rising disposable income and increase in globalization of sports will drive the growth. Factors that could hinder the growth of the sports market in the future include competition from home entertainment and negative publicity and scandals.
The sports market is segmented by type into spectator sports and participatory sports. The participatory sports market was the largest segment of the sports market segmented by type, accounting for 63.5% or $307.8 billion of the total in 2023. Going forward, the spectator sports segment is expected to be the fastest growing segment in the sports market segmented by type, at a CAGR of 7.2% during 2023-2028.
The sports market is segmented by revenue source into media rights, merchandising, tickets and sponsorship. The media rights market was the largest segment of the sports market segmented by revenue source, accounting for 29.8% or $144.5 billion of the total in 2023. Going forward, the media rights segment is expected to be the fastest growing segment in the sports market segmented by revenue source, at a CAGR of 6.8% during 2023-2028.
The sports market is segmented by ownership into chained and standalone. The standalone market was the largest segment of the sports market segmented by ownership, accounting for 54.8% or $265.7 billion of the total in 2023. Going forward, the standalone segment is expected to be the fastest growing segment in the sports market segmented by ownership, at a CAGR of 6.6% during 2023-2028.
North America was the largest region in the sports market, accounting for 35% or $169.6 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the sports market will be South America and Middle East where growth will be at CAGRs of 17.1% and 15% respectively. These will be followed by Africa and Asia Pacific where the markets are expected to grow at CAGRs of 12.4% and 7.7% respectively.
The global sports market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 2.72% of the total market in 2022. Liberty Media Corporation was the largest competitor with 0.56% share of the market, followed by Life Time Group Holdings with 0.38%, Futbol Club Barcelona with 0.33%, Topgolf Callaway Brands Corp with 0.30%, MARUHAN Corporation with 0.26%, Dallas Cowboys with 0.21%, Real Madrid C.F. with 0.19%, Golden State Warriors with 0.17%, Manchester City FC with 0.16%, and Los Angeles Rams with 0.15%.
The top opportunities in the sports market segmented by type will arise in the participatory sports segment, which will gain $92 billion of global annual sales by 2028. The top opportunities in the sports market by revenue source will arise in the media rights segment, which will gain $55.93 billion of global annual sales by 2028. The top opportunities in the sports market by ownership will arise in the standalone segment, which will gain $100.3 billion of global annual sales by 2028. The sports market size will gain the most in China at $39.7 billion.
Market-trend-based strategies for the sports market include focus on adoption and integration of latest technologies to bring transformation, usage of mobile ticketing for hassle-free ticket purchase experience, launch of sports streaming apps for easy accessibility, development of contactless sporting events/contactless venues for safety and efficiency and personalized fan engagement to deliver tailored experiences.
Player-adopted strategies in the sports market include focus on focus on enhancing its operational capabilities through strategic acquisitions, collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the sports companies to focus on technological integration, focus on mobile ticketing solutions, focus on sports streaming apps, focus on contactless technologies for outdoor sporting venues, focus on spectator sports market growth, focus on media rights and sponsorship segments, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2B promotions, focus on enhancing offerings for end-users and focus on e-commerce users.
Scope
Markets Covered:
1) by Type: Spectator Sports; Participatory Sports
2) by Revenue Source: Media Rights; Merchandising; Tickets and Sponsorship
3) by Ownership: Chained; Standalone
Key Companies Mentioned: Liberty Media Corporation; Life Time Group Holdings; Futbol Club Barcelona; Topgolf Callaway Brands Corp; MARUHAN Corporation
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; sports market indicators comparison
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 399 |
| Forecast Period | 2023-2033 |
| Estimated Market Value (USD) in 2023 | $484.9 Billion |
| Forecasted Market Value (USD) by 2033 | $862.6 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Liberty Media Corporation
- Life Time Group Holdings
- Futbol Club Barcelona
- Topgolf Callaway Brands Corp
- MARUHAN Corporation
- Dallas Cowboys
- Real Madrid C.F.
- Golden State Warriors
- Manchester City FC
- Los Angeles Rams
- 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 Barcelona
- Real Madrid C.F
- FC Bayern Munich
- Paris Saint-Germain F.C
- Borussia Dortmund
- Juventus F.C
- A.C. Milan
- Manchester United F.C
- 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
- Dallas Cowboys
- New York Knicks
- New York Giants
- 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
- Esperance Sportive de Tunis
- Club Africain
- Kaizer Chiefs
- Mamelodi Sundowns
- Springboks
For more information about this report visit https://www.researchandmarkets.com/r/rimwce
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