The market is driven by increasing sports sponsorship spending. In addition, the emergence of new sports leagues will positively influence the growth of the sports sponsorship market.
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Sports Sponsorship Market: Type Landscape
Based on the type, the market witnessed maximum growth in the signage segment. This can be attributed to the increasing number of new sporting leagues and the success of existing leagues. The market growth in the segment will be significant over the forecast period.
Sports Sponsorship Market: Geography Landscape
34% of the market's growth originated from APAC in 2019. Factors such as the increasing number of sporting leagues and the rapid growth of the sports industry are fueling the growth of the sports sponsorship market in APAC.
China and India are the key markets for sports sponsorship in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Major Five Sports Sponsorship Market Vendors:
adidas AG: The company sponsors FIFA World Cup and holds Official Partner, Supplier, and Licensee rights for the FIFA World Cup.
Hero MotoCorp Ltd.: The company offers sponsorship to various sporting events such as hockey, golf, and cricket.
Hyundai Motor Co.: The company has been a sponsor for the US PGA since 2011 and the official car sponsor of the NFL in the US since 2015.
Nike Inc.: The company sponsors many sporting events such as basketball, tennis, football, swimming, and other sports.
Nissan Motor Co. Ltd.: The company sponsors cricket matches in partnership with the International Cricket Council (ICC).
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