The global sports events market size was valued at $184,612.2 million in 2021 and is estimated to reach $609,066.8 million by 2031, registering a CAGR of 10.5% from 2022 to 2031.
The industry is expected to have plenty of development prospects due
to factors including the expanding acceptance of digital tickets and the
increased use of smartphones worldwide. The lack of pricing management and the
ambiguity around ticket prices, however, could limit market expansion.
Most sporting events are being postponed or cancelled as a result of
the COVID-19 pandemic, which has a detrimental influence on the market. For
instance, both the National Hockey League (NHL) and the National Basketball
Association (NBA) postponed their seasons. The seasons of Major League Baseball
(MLB), Major League Soccer (MLS), and the Professional Golfers' Association
(PGA) Tour were all suspended. Due to the epidemic, some sports leagues changed
their schedules. Such sports event cancellations have an effect on industry
sales and income production.
Covid-19 Effects:
- The outbreak of the Covid-19 pandemic had a
negative impact on the global sports events market, owing to
implementation of the global lockdown. This led to cancellation or
postponement of all sport events to safeguard the health of athletes and
others involved in games.
- Sports events such as football tournaments,
basketball games, cricket, wrestling, and many others were canceled.
- In addition, temporary closure of gyms,
stadiums, pools, dance clubs, parks, and playgrounds hampered the growth
of the market to some extent during the pandemic.
- Nevertheless, in the post-pandemic, the market
is recovering steadily.
Key Benefits
·
This report provides a quantitative
analysis of the market segments, current trends, estimations, and dynamics of
the sports events market analysis from 2021 to 2031 to identify the prevailing
sports events market opportunities.
·
The market research is offered along
with information related to key drivers, restraints, and opportunities.
·
Porter's five forces analysis highlights
the potency of buyers and suppliers to enable stakeholders make profit-oriented
business decisions and strengthen their supplier-buyer network.
·
In-depth analysis of the sports
events market segmentation assists to determine the prevailing market opportunities.
·
Major countries in each region are
mapped according to their revenue contribution to the global market.
·
Market player positioning facilitates
benchmarking and provides a clear understanding of the present position of the
market players.
·
The report includes the analysis of
the regional as well as global sports events market trends, key players, market
segments, application areas, and market growth strategies.
The 21 to 40 years segment to maintain its lead position during the forecast period
Based on age group, the 21 to 40 years segment accounted for the largest
share in 2021, contributing to nearly half of the global sports events market,
and is projected to maintain its lead position during the forecast period.
Moreover, the same segment is expected to portray the largest CAGR of 11.1%
from 2022 to 2031, owing to active participation of individuals aged between 21
and 40 years in events such as exhibitions, conferences, sports events,
seminars, and music concerts.The report also identifies segments including
below 20 years and above 41 years.
Sports
Events Market to Reach $609.07Bn, Globally, by 2031 at 10.5% CAGR: Allied
Market Research
Leading Market Players: -
- Ace Ticket Worldwide, Inc.
- GooTickets.Com
- Razorgator LLC
- SeatGeek
- StubHub
- Ticket City, Inc.
- Tickets.com, LLC
- Ticketek Pty Ltd
- Ticketmaster
- TickPick LLC
