The Business Research Company’s Sports Market 2021- Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 18, 2021 /EINPresswire.com/ — Sports organizers and race organizers are implementing mobile ticketing to provide hassle free ticket purchase experience. Mobile ticketing is the process where customers can buy and validate the tickets using mobile phones. Event organizer’s production and distribution costs associated with traditional paper-based ticketing channels are eliminated with the implementation of mobile ticketing. Apart from this, the data exchanged digitally through ticket transactions enables sports organizers to learn more about fans and generate insights to formulate marketing strategies. FC Barcelona, a Spanish professional football club, has implemented mobile ticketing and eliminated paper tickets by introducing a new system that allows fans to scan a bar-code on their phones to gain access to matches. Pocono Raceway has launched a mobile ticket delivery system that allows fans to have their tickets delivered to their mobile devices and have their tickets scanned at the sports venue directly from their mobile devices.
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The global sports market reached a value of nearly $388.30 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.4% since 2015. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The sports market is expected to reach $599.90 billion by 2025, and $826.00 billion by 2030.
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Rising penetration of mobile, tablet and other electronics and the emergence of affordable internet in developing countries are expected to drive the sports market in the forecast period. Increased sales of Internet accessible electronic devices such as smartphones and tablets lead to an increase in online viewership of sports content. For example, Hotstar, a video streaming platform of Star India, is the official broadcaster of the Indian Premier League (IPL), has a majority of mobile device-based users, and registered growth of 74% in viewership during 2019 compared to 2018. The same trend is expected to further rise in future IPL seasons, driving the revenues of the sports market.
Major players covered in the global sports industry are Maruhan, Dallas Cowboys, New York Yankees, Manchester United Football Club, Futbol Club Barcelona.
TBRC’s global sports market is segmented by type into spectator sports, participatory sports, by revenue source into media rights, merchandising, tickets, sponsorship.
Sports Market 2021- By Type (Spectator Sports, Participatory Sports), By Revenue Source (Tickets, Media Rights, Sponsorship, Merchandising), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides sports market overview, forecast sports market size and growth for the whole market, sports market segments, and geographies, sports market trends, sports market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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