The global sports market was valued nearly at $489 billion in 2018. North America is the largest market for sports, accounting for almost 31% of the global market. The USA is the largest country in terms of value in the Sports 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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Sports Market Size
The global sports market reached a value of nearly $489 billion in 2018, having grown at a growth rate of around 4% since 2014.Growth in the historic period resulted from the emerging markets growth and rapid urbanization. Factors that negatively affected growth in the historic period were unfavorable climate changes and shortages of sports professionals. Going forward, increasing sports sponsorships, growing popularity of esports, economic growth, an increase in the number of Internet accessible devices and the emergence of multiple sports channels to capture viewership will drive growth. Factors that could hinder the growth of this market in the future are an increasing threat from home entertainment and increasing regulations on sports.
The sports market is highly fragmented, with a large number of small players. Players in the market include Life Time Fitness, Inc., Maruhan, Dallas Cowboys, Futbol Club Barcelona, and Manchester United Football Club.
Life Time Fitness, Inc. was the largest company in the sports market with around 0.31% share of the market in 2018. The company designs, builds and operates a chain of health clubs such as sports and athletic, professional fitness, family recreation, and spa centers for organizations, communities, and individuals. It was founded in 1992 and is headquartered in Minnesota, the USA.
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The sports market is segmented by type, by revenue source and by geography.
By Type- The sports market can be segmented by type into
- a) Participatory Sports
- b) Spectator Sports
Participatory sports had the highest growth rate of nearly 4.3% during the historic period.
Sub-Segmentation
By Type- The participatory sports market can be segmented by type into
- a) Sports Teams & Clubs
- b) Racing & Individual Sports
Growth has accelerated in both the segments of the global spectator sports market.
By Revenue Source- The sports market can be segmented by revenue source into
- a) Media Rights
- b) Merchandising
- c) Tickets
- d) Sponsorship
By Geography- The sports market is segmented into
- o North America
- USA
- Canada
- Mexico
- o Western Europe
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