The Business Research Company Sports Market Report – Opportunities and Strategies – Global Forecast to 2030
LONDON, GREATER LONDON, UK, June 21, 2021 /EINPresswire.com/ –
Sports market trends include:
Impact of social media during the pandemic
Social media is increasingly playing a central role in engaging sports fans. Sports teams try to engage fans by involving them in discussions or polls on social media. With the shutdown of a number of sporting events, sports-related businesses have also suffered huge losses during the pandemic. Sports-related companies, as well as those involved in health and fitness products and services, are increasingly turning to athletes with a good fan base on social media, to market their products and services. For example, during the lockdown, social media use in the UK increased by 40%. Many sportspeople, including footballers and cricketers, have become major influencers. For example, Ronaldo has earned £ 41.7million ($ 55.92million) in the past year.
Virtual reality at sporting events
Sports organizers are implementing virtual reality (VR) technology to improve the spectator experience at sporting events. Virtual reality generates images, sounds and other sensations that simulate a physical presence in an imaginary environment. Clubs and teams experience simulated and 360-degree environments to enhance the spectators’ match viewing experience by allowing them to have a virtual tour of the stadium or race track and see the match from different angles. For example, the NBA game between the Sacramento Kings and the San Antonio Spurs was broadcast in VR. NASCAR has created an interactive racetrack fan zone with the implementation of virtual reality.
Learn more about the Global Sports Market report:
The size of the global sports market is expected to grow from $ 388.28 billion in 2020 to $ 440.77 billion in 2021 at a compound annual growth rate (CAGR) of 13.5%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 599.9 billion in 2025 at a CAGR of 8%.
North America is the largest region in the world sports market, accounting for 35% of the market in 2020. Asia-Pacific is the second largest region accounting for 30% of the world market. Africa is the smallest region in the world sports market.
The main companies in the market include Dallas Cowboys, Manchester United, Futbol Club Barcelona SL, Real Madrid, FC Bayern Munich AG.
The TBRC global sports market research report is segmented by type into spectator sports, participatory sports and by revenue source into media rights, merchandising, tickets, sponsorship.
The sub-segments covered are team and club sports, racing and individual sports, golf courses and country clubs, ski facilities, marinas, fitness and recreational sports centers, centers bowling and other participatory sports.
Sports market – by type (spectator sports, participatory sports), by revenue source (tickets, media rights, sponsorship, merchandising) and by region, opportunities and strategies – Global Forecast To 2030 is part of a series of new reports by The Business Research Company which provides sports market overview, sports market size and growth forecast for the entire market, sports market segments and geographies, sports market trends , sports market drivers, constraints, revenues, profiles and market shares of the main competitors.
Request for Sample of Global Sports Market Report:
Here is a list of similar reports from Business Research Company:
Spectator Sports Market – by type (sports teams and clubs, races and individual sports), by revenue source (tickets, media rights, sponsorship, merchandising), by media type (traditional media, non-traditional media), by sport (badminton, Baseball, basketball, cricket, cycling, hockey, ice hockey, racing, rugby / football, soccer, table tennis, tennis, volleyball, wrestling / boxing, others), and by region, opportunities and strategies – Global forecasts to 2023
Global Leisure Market Report 2021: Impact and Recovery of COVID-19 through 2030
Global Entertainment Market Report 2021: Impact of COVID-19 and Recovery to 2030
Want to learn more about The Business Research Company?
Learn more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
The Business Research Company is a market research and intelligence company that excels in business, market and consumer research. It has more than 200 research professionals in offices in India, the UK and the US, as well as a network of trained researchers around the world. It has consultants who specialize in a wide range of industries including manufacturing, healthcare, financial services and technology.
Call us now for personal assistance with your purchase:
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293