The Sports Sponsorship Global Market Report 2023 by The Business Research Company, provides sports sponsorship market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Sports Sponsorship Global Market Report 2023, the global sports sponsorship market size is expected to grow from $60.09 billion in 2022 to $63.74 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global sports sponsorship market size is expected to reach $79.42 billion in 2027 at a CAGR of 5.7%
The growing number of sports events is expected to propel the growth of the sports sponsorship market going forward. The number of sports events has been increasing steadily in recent years due to several reasons such as the growing popularity of sports and the increased availability of resources for organizing events. Additionally, the globalization of sports has made it possible for sports to reach a wider audience and gain greater recognition worldwide. This has attracted sponsors to provide monetary sponsorships and promote their brand and products through advertisements.
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The sports sponsorship market is segmented:
1) By Type: Signage, Digital Activation, Club And Venue Activation, Other Types
2) By Application: Competition Sponsorship, Training Sponsorship, Other Applications
Technological advancements are a key trend gaining popularity in the sports sponsorship market. Companies operating in the sports sponsorship market are adopting new technologies to grow in the market. For instance, in October 2022, Meta, a US-based technology company, launched Xtadium VR (virtual reality) app for its Oculus Quest 2 headset. Xtadium is a platform that provides VR streams of sports events in 180 degrees and up to 8K video quality. The platform includes real-time statistical overlays and offers eight different camera angles, providing a more personalized viewing experience for the users. It allows users to watch live events, on-demand replays, and immersive highlights. The goal of Xtadium is to use VR technology to emulate the experience of being at a sporting event as closely as possible.
The sports sponsorship market report table of contents includes:
1. Executive Summary
2. Sports Sponsorship Market Characteristics
3. Sports Sponsorship Market Trends And Strategies
4. Sports Sponsorship Market – Macro Economic Scenario
5. Sports Sponsorship Market Size And Growth
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26. Africa Sports Sponsorship Market
27. Sports Sponsorship Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sports Sponsorship Market
29. Sports Sponsorship Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Adidas
- Nike Inc
- Pepsi Co
- Rolex
- The Coca-Cola Company
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