Global sports sponsorship market to hit USD 189.54bln by 2030 – Report
By Ibidunni Banjoko
Research and Markets, the world’s largest market research store, has released its 2023 Sports Global Market Report. The report provides market sizing and forecasts across 7 major currencies – USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In the report, 2018 to 2021 are considered historical years, 2022 is the base year, 2023 is the estimated year, and years from 2024 to 2030 are considered forecast periods.
According to the report, the Global Sports Sponsorship Market size was estimated at USD 97.35 billion in 2022, USD 105.47 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.68% to reach USD 189.54 billion by 2030.
The market is studied across Events, Individuals, Sports, and Teams based on Type. The Teams commanded the largest market share of 36.11% in 2022, followed by Events. The market is studied across Financial Sponsors, In-kind Sponsors, Media Sponsors, and Promotional Sponsors. The Financial Sponsors commanded the largest market share of 41.67% in 2022, followed by Media Sponsors.
The market also studied across Main Sponsor, Official Partner, Official Sponsor, Technical partner, and Title sponsor. The Title sponsor commanded the largest market share of 23.45% in 2022, followed by Official Sponsor.
On End-use, the market is studied across Competition Sponsorship and Training Sponsorship. The Competition Sponsorship commanded the largest market share of 86.55% in 2022, followed by Training Sponsorship.
Looking at the Sponsorship Providers, the market is studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology, Manufacturing, Media & Entertainment, Telecommunication, and Travel & Hospitality. Consumer Goods & Retail commanded the largest market share of 18.84% in 2022, followed by Banking, Financial Services & Insurance.
It studied across the Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and the United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Europe, the Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and the United Kingdom. The Americas commanded the largest market share of 39.35% in 2022, followed by Europe, the Middle East & Africa.
The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Sports Sponsorship Market. The ongoing research considers the changes in consumer behaviour, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Sports Sponsorship Market, including Adidas AG, Ajinomoto Co., Inc., Anheuser-Busch InBev SA/NV, Anta Sports Products Limited, ASICS Corporation, BYJU’S, Castrol Limited, DICK’S Sporting Goods, Inc., Emirates Group, Etihad Airways PJSC, Ford Motor Company, Heineken N.V., Hero MotoCorp Ltd., Hyundai Motor Company, Intel Corporation, iProSports Ltd., Microsoft Corporation, Molson Coors Beverage Company, Monster Beverage Corporation, MRF Limited, Nike, Inc., Nissan Motor Co., Ltd., PepsiCo, Inc., Puma SE, Qatar Airways Group, Q.C.S.C., RealityBLU, Inc., Red Bull GmbH, Reebok International Ltd., Reliance Jio Infocomm Ltd., Rolex SA, Samsung Electronics Co., Ltd., State Farm Group, The Coca-Cola Company, The Procter & Gamble Company, and UPSTOX.
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