Sports Sponsorship Market - 34% of Growth to Originate from APAC |Evolving Opportunities with Adidas AG & Hero MotoCorp Ltd. | Technavio
NEW YORK, April 25, 2022 /PRNewswire/ -- Sports Sponsorship Market Facts at a Glance-
NEW YORK, April 25, 2022 /PRNewswire/ -- Sports Sponsorship Market Facts at a Glance-
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The Sports Sponsorship Market size is expected to increase by USD 5.33 billion from 2019 to 2024, at an accelerated CAGR of 2%. 34% of the market's growth will originate from APAC during the forecast period. 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. The emergence of new sporting events coupled with the increasing sports sponsorship spending will facilitate the sports sponsorship market growth in APAC over the forecast period.
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Vendor Insights-
The Sports Sponsorship Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Latest Drivers & Trends Driving the Market-
The key factor driving growth in the sports sponsorship market is the increasing sports sponsorship spending. The global sports sponsorship market is witnessing steady growth in terms of sponsorship spending. The growth trend in sponsorship spending is expected to continue during the forecast period as well. Companies also believe that spending on sports sponsorship yields a relatively higher ROI as compared to the expenditure on direct marketing and advertising. Sports sponsorship spending in emerging countries like India is also witnessing significant growth. For instance, the sports sponsorship spending in India increased by around 16%-18% to more than $1 billion in 2019. It was also notable that India hosted its first-ever FIFA U-17 World Cup which became the most attended event in the history of the tournament. Moreover, cricket is a major sport in the country with a large audience base. The launch of several other domestic leagues like IPL, PKL, ISL, Hockey India League (HIL), and PBL has also attracted several companies to invest in sports sponsorship. Thus, sports sponsorship spending is expected to increase further with the success of these sporting leagues all over the world.
Analytics gaining prominence is a major trend that is expected to have a positive impact in the coming years. Over the years, the lack of efficient metrics to measure sports sponsorship ROI had been one of the major challenges faced by the sponsors. However, the advent of marketing analytics is expected to be one of the best solutions to encounter this problem. Marketing analytics helps the sponsor in collecting social media insights from customers before, during, and after a sports event. Thus, the sponsor will have a better understanding of what people are really saying about their financial brand. Marketing analytics also analyzes customer reach, which is the number of people exposed to the sponsor's marketing messages at a sponsorship activation.
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Related Reports -
Sports Sponsorship Market Scope |
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Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of about 2% |
Market growth 2020-2024 |
USD 5.33 billion |
Market structure |
Fragmented |
YoY growth (%) |
-48.89 |
Performing market contribution |
APAC at 34% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
adidas AG, Hero MotoCorp Ltd., Hyundai Motor Co., Nike Inc., Nissan Motor Co. Ltd., PepsiCo Inc., PUMA SE, Qatar Airways Group, Rolex SA, and Samsung Electronics Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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