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Sports Events Market Size is Expected to Rise $609.07 Billion by 2031, Growing At a CAGR of 10.5% From 2022 to 2031

Sports Events Market

Sports Events Market

According to the sports events market analysis, the sports events market is segmented into revenue source, age group and region.

An further factor supporting the market's expansion is the rise in popularity of sports other than cricket and football.”
— Roshan Deshmukh

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, September 29, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Sports Events Market" The sports events market size was valued at $184.61 billion in 2021, and is estimated to reach $609.07 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape.

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Some of the factors driving market expansion in the area include the expanding sporting events business, rising per capita income, the burgeoning middle-class population, and rising disposable income. In addition, the growing popularity of major sporting events such as the Tokyo Olympics and the Cricket World Cup, along with rising digitization in China and India, further fuel market expansion. The market is expected to have plenty of opportunities due to the widespread acceptance of digital tickets and the expanding use of smartphones worldwide. However, during the anticipated timeframe, market development is anticipated to be constrained by the unpredictability of ticket pricing and a lack of price management.

According to the sports events market analysis, the sports events market is segmented into revenue source, age group and region. By revenue source, it is segregated into ticket sale, sponsorship and others. On the basis of age group, the market is categorized into Below 20 years, 21–40 years and 41 years & above. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, Netherlands and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa and Rest of LAMEA).

The basis of revenue source, the tickets segment was the significant contributor to the market, with $63,865.1 million in 2021, and is estimated to reach $202,205.6 million by 2031, at a CAGR of 10.0% during the forecast period. A ticket is a voucher that indicates that an individual is entitled to admission to sports event. Digital tickets and online printable tickets, and paper tickets are majorly used forms of the sports event tickets. Online tickets for sports events has been gaining huge popularity owing to its convenience offered and hassle free payment getaways. Digital ticketing creating the high level of transparency, which is expected to reduce the black ticketing practices. Thus, above mentioned factors are projected to spur the sports events market growth during the forecast period.

The basis of age group, below 20 years segment was the significant contributor to the market and is estimated to reach $202,323.8 million by 2031, at a CAGR of 10.3% during the forecast period. The below 20 years segment includes the children, and are open to new learning and enthusiast to take up challenges & thrilling activities. Numerous school & college students attain various sporting events through schools and individually. Increase in participation of the kids and children in sports activities is likely to generate more interest in viewing live sports. Thus, below 20 years segment is growing at significant CAGR during the forecast period.

Region wise, North America garnered the major sports events market share in 2021, and is expected to maintain its market share throughout Sports events market forecast period. In 2020, North America had the highest revenue share of more than 50%. The main driver of regional growth is the rise in viewership for sports other than football in United States. With well-known clubs like the Bulls, Cavaliers, 76ers, Raptors, Mavericks, Warriors, Trail Blazers, and NY Knicks, football is the most watched sport in the area. The games are watched by a sizable audience both offline and online. In 2018, 851 824 people watched the Bulls on ESPN, and 843 042 people watched the Cavaliers.

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The players operating in the global sports events industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report are Ace Ticket Worldwide, Inc., GooTickets.Com, Razorgator LLC, SeatGeek, StubHub, Ticket City, Inc., Tickets.com, LLC, Ticketek Pty Ltd, Ticketmaster and TickPick LLC.

Key Benefits For Stakeholders:

○ 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.

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○ Sort new clients or possible partners into the demographic you’re looking for.
○ Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
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Related Reports:

Sports Training Market is projected to reach $18.85 billion by 2031
Asia-Pacific Athletic Sportswear and Footwear Market is projected to reach $110.6 billion by 2027

○ Smart Sports Equipment Market is expected to be valued at $12.0 billion by 2026
https://www.alliedmarketresearch.com/smart-sports-equipment-market


Source: https://www.dailyreportsworld.com

David Correa
Allied Analytics LLP
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