The global sports events market revenue was around US$ 203.9 billion in 2022 and is estimated to reach US$ 500.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2023 to 2031.
The sports events are organized and planned competitive sporting activities, including tournaments, matches, and championships, that bring fans and athletes together for entertainment, revenue generation, and competition.
Market Driving Factors
Engaging netizens via social media is estimated to drive the market. A substantial portion of the global population now utilizes social media, leading to a rise in online sports events and viewers. Social media offers a sizable fan base that is easy to interact with. Furthermore, social media is altering the game in different areas, including the sports sector. It acts as a catalyst to keep fans interested all over the world. As a result, sports rights holders have seen unique ways to communicate with their audience and increase engagement levels by interacting with fans on social media.
Technological advancement is predicted to create possibilities in the market. Advancements such as phone calls, online booking, video conferences, and emails have made communication and transactions substantially price-effective and easy in real-time. Technology has been a significant turning point in the evolution of event management, aside from changes in purpose and approach. Thus, digital evolution has introduced different creative methods to reach a broad customer base for events.
The rise in terrorism and crime, political unpredictability, and the incompetence of sports federations are some of the factors impeding market growth.
Regional Analysis
North America dominated the market in terms of the major shares and is predicted to maintain its dominance. This can be majorly attributed to the increase in viewership for sports other than football in the United States. Football is the most watched sport in the region, with teams including the NY Knicks, Trail Blazers, Warriors, Bulls, Mavericks, Raptors, and Trail Blazers. Additionally, smartphone-based event ticketing services would surpass other revenue-generating segments due to their accessibility and convenience to consumers. Therefore, this factor is predicted to boost the market growth in the region.
Asia-Pacific is estimated to dominate the market in terms of the growth rate. China is a major event market in the region that plays an important role in the growth of the sports events market. Additionally, social media has made it possible to have more suitable networks, and authentic details, and keep individuals updated about upcoming sports events. This aids companies in maximizing the probabilities of sports event success in the region.
Segmentation Insights
Revenue Source Insight
The sponsorship segment is predicted to dominate the market in terms of revenue. This is due to the it is an essential source of funding for all kinds of sporting events. Sports event sponsorships involve non-profit organizations, businesses, and other organizations contributing money or other advantages in exchange for visibility and brand exposure. As a result, various event planners operate with sponsors to offer the funds they require to offer more engaging programming and pay for escalating prices.
Age Group Insight
The 21–40 years segment is estimated to dominate the market in terms of the largest shares. This is mainly owing to that this group of individuals is more inclined towards sports events. Additionally, a surge in interest in selecting sports as a career option is estimated to drive market growth. Moreover, an increase in participation of the 21–40 years age group individuals in sporting activities will create more viewership for the live sports events. Therefore, the increasing popularity of sports and the population of the age group of 21–40 years are likely to contribute to the market growth.
Prominent Companies
Segmentation Outline
The global sports events market segmentation focuses on the Revenue Source, Age Group, and Region.
By Revenue Source
By Age Group
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SPORTS EVENTS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SPORTS EVENTS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SPORTS EVENTS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SPORTS EVENTS MARKET, BY REVENUE SOURCE
5.1 OVERVIEW
5.2 TICKET SALE
5.3 SPONSORSHIP
5.4 OTHERS
6 GLOBAL SPORTS EVENTS MARKET, BY AGE GROUP
6.1 OVERVIEW
6.2 BELOW 20 YEARS
6.3 21 TO 40 YEARS
6.4 41 YEARS AND ABOVE
7 GLOBAL SPORTS EVENTS MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL SPORTS EVENTS MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 TICKETMASTER
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 TICKETEK PTY LTD
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 ACE TICKET WORLDWIDE INC.
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 SEATGEEK
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 TICKETS.COM LLC
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 STUBHUB
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 GOOTICKETS.COM
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 TICKET CITY INC.
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 TICKPICK LLC
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 RAZORGATOR LLC
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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