DUBLIN--(BUSINESS WIRE)--The "Spectator Sports Global Market Opportunities And Strategies 2031" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global spectator sports market as it emerges from the COVID 19 shut down.
The global spectator sports market reached a value of nearly $164,932.3 million in 2021, having increased at a compound annual growth rate (CAGR) of 0.3% since 2016. The market is expected to grow from $164,932.3 million in 2021 to $354,000.2 million in 2026 at a rate of 16.5%. The market is then expected to grow at a CAGR of 11.0% from 2026 and reach $597,531.1 million in 2031.
Companies Mentioned
- Dallas Cowboys
- Real Madrid
- FC Barcelona
- New York Yankees
- Manchester United Football Club
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Growth in the historic period resulted from emerging markets growth, and rapid urbanization. Factors that negatively affected growth in the historic period were climate change, shortage of sports officials, and doping scandals impact sports.
Going forward, rising sponsorships, increase in internet accessible devices, multiple sports channels to capture viewership, and economic growth will drive growth. Factors that could hinder the growth of the spectator sports market in the future include threat from home entertainment, increasing regulations on sports, and epidemic disease outbreak.
North America was the largest region in the spectator sports market, accounting for 40.9% of the global market in 2021. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the spectator sports market will be Middle East and Eastern Europe where growth will be at CAGRs of 19.1% and 17.5% respectively during 2021-2026. These will be followed by Africa and Western Europe, where the markets are expected to register CAGRs of 17.1% and 17.1% respectively during 2021-2026.
The global spectator sports market is highly fragmented with a large number of small players in the market. The top ten competitors in the market made up to 4.22% of the total market in 2020. High fragmentation of the spectator sports market is mainly due to presence of local clubs and teams across countries who offer spectator sports according to local culture and preferences. Major players in the market include Dallas Cowboys, Real Madrid, FC Barcelona, New York Yankees, Manchester United Football Club and others.
The top opportunities in the spectator sports market segmented by type of sport will arise in soccer segment, which will gain $57,244.5 million of global annual sales by 2026. The top opportunities in the spectator sports market segmented by type will arise in sports team & clubs segment, which will gain $155,979.9 million of global annual sales by 2026.
The top opportunities in the racing & individual sports market segmented by type will arise in individual sports segment, which will gain $23,709.4 million of global annual sales by 2026. The top opportunities in the spectator sports market segmented by revenue source will arise in media rights segment, which will gain $67,796.1 million of global annual sales by 2026. The top opportunities in the soccer market segmented by revenue source will arise in media rights segment, which will gain $30,404.3 million of global annual sales by 2026.
Market-trend-based strategies for the spectator sports market include mobile ticketing, virtual reality to enhance spectators' experience, analytics for pricing tickets, emerging markets are investing in sports, fusion of sports and entertainment, sponsorships to partnerships, corporate social responsibility and sustainability, rising demand for smart arenas/stadiums.
Player-adopted strategies in the spectator sports industry include developing strategic partnerships and collaborations to improve operations, strengthening business and service offerings through acquisitions, and investing in new infrastructure, and improving its international presence.
To take advantage of the opportunities, the publisher recommends the spectator sports companies to offer mobile ticketing facilities, adoption of VR and AR, fusion of sports and entertainment, personalization of fan engagement, offering sports tourism, expand in emerging markets, focus on analytics for dynamically pricing tickets, leverage social media to maximize reach, partner with big brands, focus on gender inclusivity, increase offerings to Paralympic sportspersons.
For more information about this report visit https://www.researchandmarkets.com/r/fcmlwh
