Sports Events Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Sports Events Industry Prospective:

The global sports events market size was worth around USD 266 billion in 2023 and is predicted to grow to around USD 510 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.5% between 2024 and 2032.

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Sports Events Market: Overview

A sports event is a competition or get-together where teams or athletes compete in sports like races, games, tournaments, or matches. Sports events can be amateur or professional, and they can involve team or individual competitions. They may also consist of competitive video games and electronic sports.

Usually, a nationally recognized sanctioning body provides a set of rules that govern sporting events. They can promote enjoyment, sociability, and physical health. The sports events market is driven by several factors including rising global sports viewership, increasing disposable income, technological advancements, rising popularity of niche sports, increasing government support and investment, increasing women's sports participation and many others. However, the high cost of event organization is expected to hinder the industry expansion.

Key Insights

• As per the analysis shared by our research analyst, the global sports events market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032).
• In terms of revenue, the global sports events market size was valued at around USD 266 billion in 2023 and is projected to reach USD 510 billion by 2032.
• The rising sports viewership is expected to drive the sports events market over the forecast period.
• Based on the revenue source, the ticket sale segment is expected to dominate the sports events market over the forecast period.
• Based on the age group, the 21 to 40 years segment is expected to hold the largest market share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

Sports Events Market: Growth Drivers

Rising spending on sports sponsorship drives market growth

Growing sports sponsorship expenditures are identified as a key factor driving market growth. The market dynamics are significantly shaped by the increase in sponsorship spending, which promotes ongoing expansion. Companies are allocating more expenditures to obtaining sponsorship deals as a result of their growing recognition of the broad appeal and emotional resonance of sports.

Spending has increased mainly because of the aim to increase brand awareness, interact with a wide range of international audiences, and take advantage of the passionate fan base that attends important sporting events. Significant rises in sports sponsorship spending are being observed in nations such as China, the United Arab Emirates, Australia, and the United Kingdom. As a result, during the forecast period, these factors help propel the sports events market expansion.

Sports Events Market: Restraints

Growing worry over sporting event ticket counterfeiting hinders market growth

One of the main issues impeding the market's expansion is the growing worry over sporting event ticket counterfeiting. The NFL claims that the quantity of fake football tickets sold annually is increasing. This problem also affects several other sports, including baseball, hockey, tennis, cricket, and the Ultimate Fighting Championship (UFC). 

Additionally, the number of unscrupulous practices about the ticket sales of major events, including international World Cup tournaments, has significantly increased. Additionally, sports event tickets are extremely expensive. Additionally, many customers tend to purchase secondary tickets as a result of this. Though some involve ticket scammers, the majority of ticket resale transactions are legal. As a result, during the forecast period, these factors are impeding market expansion.

Sports Events Market: Opportunities

The rising popularity of esports offers a lucrative opportunity for market growth

One of the key reasons esports are developing is growing curiosity in viewing and playing video games as a type of entertainment. Esports has exploded into a spectator sport in many countries as millions of people view events live or online. By allowing game producers to create more realistic and interesting gaming experiences, technological developments have also helped esports to flourish. Due to motion-capture technologies, realistic physics engines, and excellent graphics, sports games are today more appealing to play and more tempting to viewers.

Additionally, due to esports' increasing accessibility, participants and viewers may also now more readily engage in the field. Because of the expansion of online gaming platforms and streaming services, gamers today may compete and engage with others all around. This has helped to create a strong and active esports community, which is driving the growth of the sports events industry.

Sports Events Market: Challenges

Competition from digital entertainment poses a major challenge to market expansion

The sports events market is severely constrained by competition from digital entertainment since consumer preferences and technological improvements are detracting from traditional sporting events. With international competitions, enormous prize pools, and a huge online audience, esports has become a fierce rival. Younger consumers, who might favor active engagement in digital activities over passive sports viewing, are drawn to the interactive aspects of gaming.

Sports Events Market: Report Scope

Sports Events Market: Segmentation

The global sports events industry is segmented based on revenue source, age group and region.

Based on the revenue source, the global sports events market is segmented into ticket sales, sponsorship and others. The ticket sale segment is expected to dominate the sports events market over the forecast period. Sports events are increasingly focused on improving fan experiences both on-site and online. Providing interactive experiences, exclusive information, and fan interaction activities increases ticket sales. Personalized experiences like VIP packages, fan meet-and-greets, and premium seating options help to raise ticket prices and revenue.

Based on the age group, the global sports events industry is bifurcated into below 20 years, 21 to 40 years and 41 years and above. The 21 to 40 years segment is expected to hold the largest market share over the forecast period. This demographic is strongly engaged in a variety of sports, both traditional and new (e.g., esports), and is more likely to attend live events, watch broadcasts, or use digital platforms. Sports fans in this age group have a strong presence on social media, frequently influencing event patterns, ticket sales, and sponsorship deals.

Regional Analysis

North America dominates the market over the projected period

North America is expected to dominate the sports events market during the forecast period. Expansion is expected to be driven mostly by a rise in sporting events such as the US Open (Tennis), the Super Bowl, the Daytona 500, and the National Basketball Association (NBA).

The growing popularity of sports events in North America is fueling development in this continent. Sporting events and activities including the National Basketball Association (NBA), Super Bowl, Daytona 500, and US Open tennis are expected to drive the sector in the following years in quite significant increase. Sporting event ticket sales are rising since more people are attending such events. For instance, the National Football League (NFL) season 2020–2021 attracted 1.3 million attendees.

Besides, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. The region's market is expanding due to several factors, including the expanding middle class, rising per capita income, the expanding sporting events business, and increased disposable income.

Sports Events Market: Competitive Analysis

The global sports events market is dominated by players like:

• Live Nation Entertainment Inc.
• Anschutz Entertainment Group (AEG)
• The Madison Square Garden Company
• Comcast Spectacor
• International Management Group (IMG)
• The Coca-Cola Company
• PepsiCo Inc.
• Nike Inc.
• Adidas AG
• Under Armour Inc.
• Dalian Wanda Group
• Red Bull GmbH
• ESPN Inc.
• Fox Corporation
• Discovery Inc.

The global sports events market is segmented as follows:

By Revenue Source

• Ticket Sale
• Sponsorship
• Others

By Age Group

• Below 20 years
• 21 to 40 years
• 41 years and above

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa