Sports Events Market Size by Revenue Source (Ticket Sale, Sponsorship, Others), By Age group (Below 20 years, 21-40 Years, and 41 years & above), and Regions, Segmentation, and Projection till 2029
CAGR: 8.0%Current Market Size: USD 185.5 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
Global Sports Events Market- Market Overview:
The Global Sports Events market is expected to grow from USD 185.5 Billion in 2021 to USD 407.9 Billion by 2029, at a CAGR of 8.0% during the Projection period 2022-2029. It has been witnessed that events of recent years are equally interesting as the past decade, driving shifts in choice and pressurizing event planners and owners. This industry is witnessing the entry of new and independent players who are leveraging technology to gain a competitive advantage in today’s consolidated environment.
The sale of tickets for professional sporting events, both online and offline, falls under the category of sports events. Improvement in economic condition and upsurge in disposable income are significant factors that propel the growth of the sports events industry. After the 2009 economic crisis in Europe and China, the global economy witnessed a standstill. However, a strong recovery from the crisis resulted in strong economic growth, especially in developing economies, and has increased disposable income among the middle-income groups, consequentially adding to the middle-class population.
Request Sample: - Global Sports Events Market
Market Dynamics:
Drivers:
- The rise in sponsorship for events
To increase awareness about products and services offered by various companies, the leading players operating in myriad industries sponsor events such as music concerts and sports events. Sponsorship is done to provide material support to an event or an organization. In addition, sponsorship enables the leading players to advertise their products and reach a wide range of consumer base, thereby fueling the adoption of their products. Moreover, it helps to focus on consumer preference and to foster brand loyalty. Furthermore, it draws attention to a brand or company's existing and potential customers and positively impacts them, thereby increasing brand loyalty. Sponsors further check the past proven records of a particular event and the probability of success before they sponsor an event. They invest in a plan and expect a positive return on the investment.
- Engaging netizens through social media
A significant portion of the worldwide population now uses social media, leading to increased online sports events and viewers. Social media provides a sizable fan base that is simple to interact with. Social media is changing the game in various areas, including the sports sector. It acts as a catalyst to keep fans interested all over the world. Sports rights holders have found new ways to communicate with their audience and raise engagement levels by interacting with fans on social media. In addition, it increases consumer brand attachment and loyalty. Thus, the above factors are expected to generate more customers for online and offline sports events during the Projection period.
Restraints:
- High Operational costs involved in organizing events
Organizing a sports event involves multiple expenses, which include on-site expenses, venue costs, food & catering, event rentals, entertainment, and production expenses. On-site expenditures involve fees and costs charged by the event venue, which incur more costs. In addition, venue cost includes security deposit, room rental, insurance coverage, and parking, Furthermore, food & catering involves the cost of beverages, meals, server labor fees, and others. Another major cost involved in organizing a sports event is the production cost, including the expense of organizing the event, managing administrative elements, and attracting attendees. Thus, the high operational cost involved in organizing sports events is a key factor that hampers the global sports events market growth.
Opportunities:
- Technological Advancement
Advancements such as online booking, phone calls, emails, and video conferences have made communication and transactions significantly cost-effective and easy in real-time. Apart from the change in approach and purpose in event management, technology has been a key turning point in the evolutionary process of event management. In addition, digital evolution has introduced various creative ways to reach a wide customer base for events. Smartphones, desktop apps, and mobile apps have made events efficient and manageable. It has helped people get all tasks organized, managed, and executed without losing much time and effort. Furthermore, sports events can now be conducted online through webinars and e-sports, which is expected to offer remunerative opportunities for global sports events market expansion during the Projection period.
Challenges
- The rise in terrorism and political influence on sports events
Sports events are one of the major targets of terrorists because various sports events have extensive fan bases who watch sports telecasting or listen to the sports commentary on the radio or other mediums. Thus, terrorism foundations consider this fan base as a large medium to spread their message. Many of the athletes are attacked due to national rivalry or to get the media's attention. Terrorist attacks on sports events cause disturbance among fan base and athletes, leading to failure/closure of sports events and declining participation of emerging or existing players in sports events. This, in turn, adversely impacts the sports event industry. Furthermore, an increase in corruption in the sports industry and a rise in political influence on sports events & competitions lead to inconvenience for existing and emerging athletes. This is attributed to the fact that political interference is causing biases in selection, promotion, sponsoring, and other beneficiary facilities for athletes, which results in a declining number of sports events, thereby hampering the growth of the overall sports events market.
Segmentation Analysis:
The global sports events market has been segmented based on revenue source, age group, and region.
By Revenue Source
The revenue source segment includes ticket sales, sponsorship, and others. The sponsorship segment led the Sports Events market with a market share of around 43.1% in 2021. The act of sponsoring or financially supporting a sports event in exchange for brand exposure to enthusiastic participants is known as sports event sponsorship. Event sponsorship is a critical source of funding for all sports events. Companies, nonprofits, and small businesses give a certain amount of cash or incentives in exchange for visibility and brand awareness at a sports event. Furthermore, sponsoring an event increases reach among potential buyers and customers, driving sales. These factors collectively are anticipated to drive the growth of the events industry during the Projection period.
By Age Group
The age group segment includes those Below 20 years, 21-40 Years, and 41 years & above. The 21 to 40 years segment led the Sports Events market with a market share of around 49% in 2021. The 21–40 years segment was the major shareholder in 2021 and is anticipated to grow at the highest CAGR during the Projection period, owing to the active participation of individuals aged between 21 and 40 years in events such as exhibitions, conferences, sports events, seminars, and music concerts.
By Regional Analysis:
The regions analyzed for the Sports Events market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. The North America region dominated the Sports Events market and held a 35.55% share of the market revenue in 2021.
- North America region witnessed a major share. Considering the macroeconomic factors, the U.S. garnered the largest share in North America. This is attributed to the fact that North America has more flexible trade policies and regulations than Western Europe. However, Mexico is anticipated to grow significantly during the Projection period, owing to a rise in disposable income. Ten years after the economic recession threatened the global events industry, the sports events industry in North America currently is more robust. Moreover, new strategies such as open booking are gaining increased popularity among business travelers due to the increase in the adoption of smartphones, which is expected to boost market growth further.
- The Asia-Pacific region is expected to witness the highest growth rate during the Projection period. In Asia-Pacific, one of the fastest developing regions in the world, the development of the events industry is driven by strong economic growth, regional cooperation, and intellectual development. In addition, the nations in the Asia-Pacific region are witnessing an increase in sports leagues, digital activation, and the ability to grow & adapt to innovative technology.
Global Sports Events Market- Country Analysis:
- Germany
Germany's Sports Events market size was valued at USD 13.6 Billion in 2021 and is expected to reach USD 29.6 Billion by 2029, at a CAGR of 7.9% from 2022 to 2029.
Germany is one of the leading nations in the Europe sports events market. Planners in Germany anticipate the highest increase in activity, with most types of sports events increasing in both numbers and attendees. During the Projection period, it is anticipated that the expansion of the European sports events market will drive demand for tickets to sporting events.
- China
China Sports Events market size was valued at USD 14.5 Billion in 2021 and is expected to reach USD 31.9 Billion by 2029, at a CAGR of 8.0% from 2022 to 2029. China held the major share in the market and is likely to remain dominant throughout the Projection period. This is attributed to the increase in sports leagues, digital activation, and the ability to grow & adapt to innovative technology.
- India
India Sports Events market size was valued at USD 3.8 Billion in 2021 and is expected to reach USD 9.2 Billion by 2029, at a CAGR of 8.9% from 2022 to 2029. India is one of the strongest growing economies in Asia. Increasing viewership, sponsorship, and participation in sports other than cricket, especially in India, and rising government support for other sports such as kabaddi and wrestling are likely to increase the number of sports events and audiences for the same.
Key Industry Players Analysis:
To increase their market position in the global sports events business, top companies are focusing on tactics such as adopting new technology, mergers & acquisitions, Age group developments, collaborations, partnerships, joint ventures, etc.
- Ticket Worldwide, Inc.
- Com
- Razorgator LLC
- SeatGeek
- StubHub
- Ticket City, Inc.
- com, LLC
- Ticketek Pty Ltd
- Ticketmaster
- TickPick LLC
Latest Development:
- Further, the report also covers strategies key market players adopt to sustain the competitive environment and increase their market share.
Reports Metrics
|
Report Attribute |
Details |
|
Study Period |
2021-2029 |
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Base year |
2021 |
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CAGR (%) |
8.0% |
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Market Size |
185.5 billion in 2021 |
|
Projection period |
2021-2029 |
|
Projection unit |
Value (USD) |
|
Segments covered |
Revenue Source, Age Group, and Regions |
|
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
|
Companies covered |
Ace Ticket Worldwide, Inc., GooTickets.Com, Razorgator LLC, SeatGeek, StubHub, Ticket City, Inc., Tickets.com, LLC, Ticketek Pty Ltd, Ticketmaster and TickPick LLC |
|
By Revenue Source |
|
|
By Age Group
|
|
|
Regional scope |
|
Scope of the Report:
Global Sports Events Market by Revenue Source:
- Ticket Sale
- Sponsorship
- Others
Global Sports Events Market by Age group:
- Below 20 years
- 21-40 Years
- 41 years & above
Global Sports Events Market by Region:
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
Frequently Asked Questions
What is the total market size of Global Sports Events Market?
The Total Market size of Global Sports Events Market Was USD 185.5 Billion in 2021
What is the Primary revenue source for Sports Events?
The sponsorship segment led the Sports Events market with a market share of around 43.1% in 2021.
Who are the key players in the Sports Events market?
Leading market players active in the global market are Ace Ticket Worldwide, Inc., GooTickets.Com, Razorgator LLC, SeatGeek, StubHub, Ticket City, Inc., Tickets.com, LLC, Ticketek Pty Ltd, Ticketmaster, and TickPick LLC
What is the key driver of the Sports Events market?
Increase in sponsorship for events, the emergence of a sports league, and the growing disposable income of the people are primarily driving the growth of the Sports Events market.
What are the ongoing trends which will influence Sports events Market?
Expanding sporting events business, rising per capita income, burgeoning middle-class population, and rising disposable income is projected to influence the market in the upcoming years.
Political Factors- An increase in corruption in the sports industry and a rise in political influence on sports events & competitions lead to inconvenience for existing and emerging athletes. This is attributed to political interference causing biases in the selection, promotion, sponsoring, and other beneficiary facilities for athletes, resulting in declining sports events. The rising government support for other sports such as kabaddi and wrestling is likely to increase the number of sports events and audiences for the same.
Economical Factors- Organizing a sports event involves multiple expenses, which include on-site expenses, venue costs, food & catering, event rentals, entertainment, and production expenses. On-site expenditures involve fees and costs charged by the event venue, which incur more costs. In addition, venue cost includes security deposit, room rental, insurance coverage, and parking, Furthermore, food & catering involves the cost of beverages, meals, server labor fees, and others. Another major cost involved in organizing a sports event is the production cost, including the expense of organizing the event, managing administrative elements, and attracting attendees. Thus, the high operational cost involved in organizing sports events is a key factor that hampers the global sports events market growth.
Social Factor- Considering the macroeconomic factors, the U.S. garnered the largest share in North America. This is attributed to the fact that North America has more flexible trade policies and regulations than Western Europe. However, Mexico is anticipated to grow significantly during the Projection period, owing to a rise in disposable income. Ten years after the economic recession threatened the global events industry, the sports events industry in North America currently is more robust. Moreover, new strategies such as open booking are gaining increased popularity among business travelers due to the increase in the adoption of smartphones, which is expected to boost market growth further.
Technological Factors- Advancements such as online booking, phone calls, emails, and video conferences have made communication and transactions significantly cost-effective and easy in real time. Apart from the change in approach and purpose in event management, technology has been a key turning point in the evolutionary process of event management. In addition, digital evolution has introduced various creative ways to reach a wide customer base for events. Smartphones, desktops, and mobile apps have made events efficient and manageable. It has helped people get all tasks organized, managed, and executed without losing much time and effort. Furthermore, sports events can now be conducted online through webinars and e-sports, which is expected to offer remunerative opportunities for global sports events market expansion during the Projection period.
Environmental Factors- A sporting event that utilizes environmentally friendly methods to reduce the negative environmental impact. It allows organizers to minimize their carbon footprint. Sustainability is one of the most serious issues of our day, affecting a wide range of social, environmental, and economic issues. These are also significant issues for the sports community in terms of day-to-day operations and duties to young people and future generations. We also recognize sport's unrivaled ability to encourage and inspire enormous numbers of people.
Legal Factors- The National Basketball Association (NBA) and National Hockey League (NHL) suspended their seasons. Major League Soccer (MLS) and Major League Baseball (MLB) suspended their seasons, and events of the Professional Golfers' Association (PGA) Tour were also canceled. Several sports leagues altered their schedules in response to the pandemic. Such cancellations of sports events impacted sales and revenue generation in the industry.
- Introduction
- Objectives of the Study
- Market Definition
- Research Scope
- Research Methodology and Assumptions
- Executive Summary
- Premium Insights
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Top Investment Pockets
- Market Attractiveness Analysis By Revenue Source
- Market Attractiveness Analysis By Age Group
- Industry Trends
- Market Dynamics
- Market Evaluation
- Drivers
- Rise in sponsorship for events
- Engaging netizen through social media
- Restrains
- High operational cost involved in organizing events
- Opportunities
- Technological advancement
- Challenges
- Rise in terrorism and political influence on sports events
- Global Sports Events Market Analysis and Projection, By Revenue Source
- Segment Overview
- ticket sale
- Sponsorship
- Others
- Global Sports Events Market Analysis and Projection, By Age Group
- Segment Overview
- Below 20 years
- 21-40 Years
- 41 years & above
- Global Sports Events Market Analysis and Projection, By Regional Analysis
- Segment Overview
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
- Global Sports Events Market-Competitive Landscape
- Overview
- Market Share of Key Players in the Sports Events Market
- Global Company Market Share
- North America Company Market Share
- Europe Company Market Share
- APAC Company Market Share
- Competitive Situations and Trends
- Revenue Source Launches and Developments
- Partnerships, Collaborations, and Agreements
- Mergers & Acquisitions
- Expansions
- Company Profiles
- Ticket Worldwide, Inc..
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- Com
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- SeatGeek
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- StubHub
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- Ticket City, Inc.
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- com, LLC
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- Ticketek Pty Ltd
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- Ticketmaster
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- TickPick LLC
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- Razorgator LLC
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Weight Portfolio
- Recent Developments
- SWOT Analysis
- Ticket Worldwide, Inc..
List of Table
- Global Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Global Ticket sales Sports Events Market, By Region, 2021–2029(USD Million)
- Global Sponsorship Sports Events Market, By Region, 2021–2029(USD Million)
- Global Others Sports Events Market, By Region, 2021–2029(USD Million)
- Global Sports Events Market, By Age Group, 2021–2029(USD Million)
- Global Below 20 years Sports Events Market, By Region, 2021–2029(USD Million)
- Global 21-40 Years Sports Events Market, By Region, 2021–2029(USD Million)
- Global 21-40 Years sports Events Market, By Region, 2021–2029(USD Million)
- Global Sports Events Market, By Region, 2021–2029(USD Million)
- Global Sports Events Market, By North America, 2021–2029(USD Million)
- North America Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- North America Sports Events Market, By Age Group, 2021–2029(USD Million)
- USA Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- USA Sports Events Market, By Age Group, 2021–2029(USD Million)
- Canada Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Canada Sports Events Market, By Age Group, 2021–2029(USD Million)
- Mexico Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Mexico Sports Events Market, By Age Group, 2021–2029(USD Million)
- Europe Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Europe Sports Events Market, By Age Group, 2021–2029(USD Million)
- Germany Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Germany Sports Events Market, By Age Group, 2021–2029(USD Million)
- France Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- France Sports Events Market, By Age Group, 2021–2029(USD Million)
- UK Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- UK Sports Events Market, By Age Group, 2021–2029(USD Million)
- Italy Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Italy Sports Events Market, By Age Group, 2021–2029(USD Million)
- Spain Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Spain Sports Events Market, By Age Group, 2021–2029(USD Million)
- Asia Pacific Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Asia Pacific Sports Events Market, By Age Group, 2021–2029(USD Million)
- Japan Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Japan Sports Events Market, By Age Group, 2021–2029(USD Million)
- China Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- China Sports Events Market, By Age Group, 2021–2029(USD Million)
- India Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- India Sports Events Market, By Age Group, 2021–2029(USD Million)
- South America Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- South America Sports Events Market, By Age Group, 2021–2029(USD Million)
- Brazil Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Brazil Sports Events Market, By Age Group, 2021–2029(USD Million)
- Middle East and Africa Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- Middle East and Africa Sports Events Market, By Age Group, 2021–2029(USD Million)
- UAE Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- UAE Sports Events Market, By Age Group, 2021–2029(USD Million)
- South Africa Sports Events Market, By Revenue Source, 2021–2029(USD Million)
- South Africa Sports Events Market, By Age Group, 2021–2029(USD Million)
List of Figures
- Global Sports Events Market Segmentation
- Sports Events Market: Research Methodology
- Market Size Estimation Methodology: Bottom-Up Approach
- Market Size Estimation Methodology: Top-Down Approach
- Data Triangulation
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Global Sports Events Market Attractiveness Analysis By Revenue Source
- Global Sports Events Market Attractiveness Analysis By Age Group
- Global Sports Events Market Attractiveness Analysis By Region
- Global Sports Events Market: Dynamics
- Global Sports Events Market Share By Revenue Source(2021 & 2029)
- Global Sports Events Market Share By Age Group(2021 & 2029)
- Global Sports Events Market Share by Regions (2021 & 2029)
- Global Sports Events Market Share by Company (2021)
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