The Business Research Company’s Sports Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The sports market consists of the sales of sports services and related goods by entities that provide live sporting events before a paying audience or entities that operate golf courses and country clubs, skiing facilities, marinas, fitness and recreational sports centers, and bowling centers.
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During the forecast period, the growing popularity of esports events is expected to drive the global sports market. eSport or competitive video gaming is a multiplayer video game played competitively for spectators, typically by professional gamers. In 2017, the International Olympic Committee (IOC) declared esports to be considered as a sporting activity.
Sponsors and fans who spend large amounts of money turn away from the sport when drug-use is revealed with broadcasters rejecting to cover the event, sponsors unwilling to endorse the sport and major drops in the spectator attendance. For instance, live broadcasters and sponsors of Tour de France, an annual cycling race event, rejected to support the event after the revelation of doping cases. Doping scandals negatively affect the market with fall in the sales of tickets for the sporting events.
The top opportunities in the sports market will arise in participatory sports, which will gain $70.17 billion of global annual sales by 2022. The sports market size will gain the most in the USA. Market-trend-based strategies for the sports market include offering mobile ticketing facility to reduce costs associated with ticketing and facilitate faster access, providing virtual reality technology to enhance spectator experience at stadiums, expanding/establishing sports businesses in emerging markets and acquiring or establishing esports teams to lay a footfall in the emerging esports industry.
The present study exhibits the trends and market dynamics of the sports market in major countries – USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world. The report also includes the study of the current issues with consumers and various future opportunities for the market.
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Some of the major key players involved in the sports market are Life Time Fitness, Inc., Maruhan, Dallas Cowboys, Futbol Club Barcelona, Manchester United Football Club, Washington Redskins, The Pittsburgh Steelers.
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