Sporting Events Market to Grow by USD 138.6 Billion by 2029, Rising Sports Sponsorship Spending Boosts Market, AI-Driven Report on Market Landscape - Technavio

NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The global sporting events market size is estimated to grow by USD 138.6 billion lfrom 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 9.9% during the forecast period. Increasing sports sponsorship spending is driving market growth, with a trend towards high utilization of social media for branding and collaboration. However, rising concerns in ticket counterfeiting for sporting events poses a challenge. Key market players include Ace Ticket LLC, Adidas AG, Anschutz Entertainment Group Inc., BookMyShow, Liberty Media Corp., Nike Inc., One97 Communications Ltd., Platinium Group SAM, SeatGeek Inc., TEG Pty Ltd., The Walt Disney Co., Ticket City Inc., Tickets.com LLC, TickPick LLC, TiqIQ LLC, Viagogo Entertainment Inc., and Vivid Seats Inc..

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Market Driver

The sports industry continues to grow, with an increasing number of sporting events capturing the attention of players, countries, and fans worldwide. Popular sports like tennis see continuous popularity, leading to the addition of new leagues and tournaments. Organizers work hard to provide top-notch experiences for spectators, offering merchandise, hospitality, and event tickets. Ticket sales reach new heights due to the excitement and adrenaline generated by competition between teams. Social media plays a significant role in promoting these events, providing real-time information and content for fans. Sponsorship and broadcasting deals further fuel the growth of the sports industry, contributing to the tourism industry and boosting local economies. Sportsmanship remains a key focus, ensuring fair play and entertainment for all. 

Social media plays a significant role in the sports events market as it offers real-time feedback through blogs and social networking sites. Sports organizers utilize social computing tools for branding, marketing, and ticket sales. Vendors leverage platforms like Twitter and Facebook to reach new audiences and gather public opinions. Sentiment analysis and behavioral analytics are increasingly important, driving vendors to incorporate social media into their business processes for cost-effective audience engagement. 

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Market Challenges

• The sporting events market is a thriving industry, with a large number of sports and events attracting millions of fans worldwide. The popularity of sports and events continues to grow, leading to increased demand for tickets and information. Organizers face challenges in managing ticket sales, providing accurate reports, and ensuring the entertainment value for spectators. Players, athletes, and teams from various countries compete in leagues and tournaments, creating excitement and adrenaline for fans. Social media plays a significant role in promoting these events, increasing their reach and engagement. Sponsorship and merchandise sales are essential revenue streams for teams and organizers. Stadiums and venues host numerous games and tournaments, requiring effective event management and marketing strategies. Broadcasting rights and sportsmanship are crucial aspects of the industry, ensuring fair competition and ethical practices. The tourism industry also benefits significantly from major sporting events. Overall, the sporting events market offers numerous opportunities for growth and innovation.
• The global sporting events market experiences a significant challenge with the rise in counterfeit ticket sales. According to various sports organizations, including the NFL, hockey, baseball, UFC, cricket, tennis, and others, the number of fake tickets sold for large events, such as World Cup tournaments, has increased substantially. With high ticket prices, consumers are often drawn to secondary markets. This trend poses a threat to the integrity of the industry and undermines the efforts of legitimate ticket sellers. Organizations are implementing measures to combat this issue, such as using technology to verify ticket authenticity and increasing consumer awareness. However, the challenge remains a persistent one.

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Segment Overview

This sporting events market report extensively covers market segmentation by

• Revenue Stream
• Sponsorships
• Tickets
• Broadcasting And Media Rights
• Merchandising
• Event Type
• Soccer
• Cricket
• Tennis
• Others
• Geography
• Europe
• APAC
• North America
• Middle East And Africa
• South America
• Type
• Digital Ticket
• Online Printable Tickets
• Paper Tickets

1.1 Sponsorships- The sponsorship segment in the sporting events market is essential for sports organizations as it enables them to focus on event preparation and training, while major sponsors attract more viewers and visitors, resulting in increased revenue. The segment consists of signage, digital activation, and club and venue activation. Signage generates revenue from naming rights and permanent signage, boosted by the rise in new sporting leagues and the success of existing ones. Digital activation engages sponsors in independent promotions and advertising campaigns, with technology integration driving growth. Sponsorships have evolved from brand awareness to customer loyalty, as demonstrated by BYJUS's sponsorship of the 2022 FIFA World Cup. These factors are expected to fuel the growth of the sponsorship segment and the global sporting events market during the forecast period.

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Research Analysis

The sporting events market is experiencing significant growth as the popularity of sports continues to soar worldwide. With the number of games, tournaments, and leagues increasing each year, the demand for tickets and related products is on the rise. Information and content surrounding these events are in high demand, with fans turning to various sources for the latest news, scores, and analysis. Social media plays a crucial role in spreading the word and generating buzz around sporting events. Tennis, football, basketball, and other sports attract millions of fans to stadiums and arenas, making them prime locations for marketing, sponsorship, broadcasting, merchandise sales, and hospitality services. The market for sporting events is a dynamic and lucrative one, offering numerous opportunities for businesses to engage with fans and capitalize on the passion and competition that drives the sports industry.

Market Research Overview

The sporting events market is experiencing significant growth as the popularity of sports continues to soar around the world. With the number of sports, leagues, and tournaments increasing, there is an abundance of information and content available to fans. Tennis, football, basketball, and cricket are some of the most popular sports, attracting millions of spectators to stadiums and venues every year. Social media has played a crucial role in promoting ticket sales and increasing engagement among fans. Organizers use marketing, promotions, sponsorship, and broadcasting to reach a wider audience and generate revenue. Sportsmanship, entertainment, excitement, and adrenaline are all key elements that make sporting events a must-watch for fans. Merchandise, hospitality, and event tickets are also significant contributors to the tourism industry. The addition of new leagues and stadiums further fuels the growth of the market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Revenue Stream
• Sponsorships
• Tickets
• Broadcasting And Media Rights
• Merchandising
• Event Type
• Soccer
• Cricket
• Tennis
• Others
• Geography
• Europe
• APAC
• North America
• Middle East And Africa
• South America
• Type
• Digital Ticket
• Online Printable Tickets
• Paper Tickets

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio