PUBLISHER: Allied Market Research | PRODUCT CODE: 1140393
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140393
The global sports events market size was valued at $184,612.2 million in 2021 and is estimated to reach $609,066.8 million by 2031, registering a CAGR of 10.5% from 2022 to 2031. One of the key drivers of the market's growth is the considerable increase in sporting events such as the Olympics, the Football World Cup, and the NBA. It is anticipated that rise in premier leagues in various sports and the expanding popularity of sportsmen will further contribute to the growth. The industry is expected to have plenty of development prospects due to factors including the expanding acceptance of digital tickets and the increased use of smartphones worldwide. The lack of pricing management and the ambiguity around ticket prices, however, could limit market expansion.
Most sporting events are being postponed or cancelled as a result of the COVID-19 pandemic, which has a detrimental influence on the market. For instance, both the National Hockey League (NHL) and the National Basketball Association (NBA) postponed their seasons. The seasons of Major League Baseball (MLB), Major League Soccer (MLS), and the Professional Golfers' Association (PGA) Tour were all suspended. Due to the epidemic, some sports leagues changed their schedules. Such sports event cancellations have an effect on industry sales and income production.
According to the Sports events market analysis, the sports events market is segmented into revenue source, age group and region. By revenue source, it is segregated into ticket sale, sponsorship and others. On the basis of age group, the market is categorized into Below 20 years, 21-40 years and 41 years & above. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, Netherlands and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa and Rest of LAMEA).
Region wise, LAMEA has gained considerable share in sports events market and is expected grow at highest CAGR. This is majorly attributed to growing per capita income, rise in expenditure on the entertainment and rise in number of sports events in Brazil, Argentina and South Africa. Furthermore, one of the key aspects supporting the expansion of the events sector in this region is robust economic growth, which presents profitable investment prospects. In addition, the high penetration of technology and the internet in the densely populated nations spurs market expansion by increasing public awareness of upcoming sporting events. Social media has a significant impact on the expansion of the events sector because it makes it easy to contact a large audience, learn about their preferences, and create events that meet those needs. Thus, above factors are expected to boost the growth of the LAMEA sports events market during the forecast period.
The major players operating in the 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.
Key Benefits For Stakeholders
Key Market Segments
By Revenue Source
By Age Group
By Region