Pune India, Aug. 01, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Sports Events market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Sports Events market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the revenue source, age group, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Sports Events 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. To achieve a substantial market share in the worldwide Sports Events market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Ace Ticket Worldwide Inc is one of the most significant manufacturers and distributors present in the global sports events market.
The sale of tickets for professional sporting events, both online and offline, falls under the category of sports events. The global sports events market is segmented into sports, revenue source, age group, and region. On the basis of sports, the market is categorized into football, baseball, basketball and others. 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.
There has been a great upsurge in the user base of different social media platforms and other types of internet websites, owing to the large-scale distribution of internet services across the world. This user base consists of children, teenagers, middle aged as well as the elderly population. Considering this, most of the engaged stakeholders in the sports events market are moving on to digital forms for advertising and marketing. With the help of the internet, companies can help spread knowledge about their products to the farthest reaches of the world and can help improve the awareness regarding their events, especially among their target market.
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Scope of Sports Events Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Revenue Source, Age Group, and region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Ace Ticket Worldwide, Inc., GooTickets.Com, Razorgator LLC, SeatGeek, StubHub, Ticket City, Inc., Tickets.com, LLC, Ticketek Pty Ltd, Ticketmaster and TickPick LLC |
Segmentation Analysis
Sponsorship segment is witnessed a considerable market share in 2021.
The revenue source segment includes ticket sale, sponsorship and others. Sponsorship segment witnessed a considerable market share in 2021. This is attributed to the fact that most of the sports events use sponsorship support to offer more exciting programs and to help defray rising costs. Advertising is considered a quantitative medium, whereas sponsorship is considered a qualitative medium. In addition, it is a powerful tool that complements other marketing programs in delivering the message to people.
21-40 years segment is expected to be the fastest growing segment in 2021.
The age group segment includes Below 20 years, 21–40 years and 41 years & above. the population below 20 years mostly attends events related to sports and music. The population in this category is not much mature, and do not attend exhibitions, conferences, or corporate seminars. They are significantly inclined toward events which offer fun and entertainment factor such as sports and music concerts, as they enjoy attending such events.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Sports Events include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Among all regions, Asia-Pacific serves as the most lucrative region for investments as it is a consumer region comprising of China and India. Influence of social media, increasing online consumption of sports, growing female viewership, increasing viewership, sponsorship and participation in sports other than cricket and Growth in rural viewership numbers are expected shape the growth of the Asia-Pacific sports events market during the forecast period. The graph below depicts the top investment pockets with respect to the growth rate and market attractiveness by region.
Country Analysis
Germany
Germany 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. This is mainly attributed to changing lifestyles, increasing disposable incomes of population, and rising trend of sports league across the country. The most popular sports and teams exhibit a beneficial impact on the economy, making the sports industry the largest entertainment sector in the world.
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 is one of the largest market of sports events in Asia-Pacific region. These sports events attracts a large sports tourists that boosts the economy of China. Therefore, the events industry is encouraged by the Chinese government because of its economic importance and hence the events industry is expected to prosper in the upcoming years in China.
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 population in the country and upsurge in rise in participation of sports events in the country boosts growth of the market. While cricket still rules the Indian sports market, the nation has enthusiastically adopted other sports as well. Many sports federations and commercial organizations have helped build league-based competitions, capitalizing on the IPL model, in the footsteps of the Board of Control for Cricket in India (BCCI).
Covid-19 Impact
A closer look to the Event Industry of 2021
- COVID-19 is likely to stay with volatility in restrictions and lockdowns as per case load in the city/country
- Mini events are likely to prevail in the upcoming years with adequate social distancing
- Virtual and hybrid events industries are likely to gain very high traction in the upcoming years
- Micro, small and medium-sized enterprises are unlikely to sustain in the upcoming years
- Rate of vaccination, efficacy of vaccines, and vaccination passport is anticipated to play a conspicuous role in the events industry
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