Impact of Emerging Sports Leagues on Market Dynamics
NEW YORK, NY, December 14, 2023 /24-7PressRelease/ — According to a recent report by Technavio titled “Sports Sponsorship Market,” the market is poised for rapid growth in the coming years, with an estimated increase in market size by USD 22.64 billion and a CAGR of 6.02% during the forecast period. North America is expected to play a significant role, contributing 30% to the overall market growth. You can request a sample report for more insights.
The global sports sponsorship market is on the rise due to the emergence of new sports leagues and events worldwide. These initiatives attract a growing number of sponsors by providing diverse opportunities across various sports. The expansion of sporting events introduces new tournaments and extends existing ones to new locations, attracting larger audiences and leading to increased sponsor investments. Sports organizations rely on sponsors for financial support and resources, contributing to the profitability of all involved parties. This trend is anticipated to persist, attracting new sponsors in the forecast period.
The market’s growth is fueled by the emergence of new sporting events and the increased spending on sports sponsorships. Majorly sponsored sports in North America include football, baseball, basketball, motorsports, and rugby. The United States stands out as the most significant market for sports sponsorships, with prominent leagues such as the NBA, NFL, NHL, MLB, as well as the US and North American Soccer Leagues making substantial contributions to the sports sponsorship market. You can download the sample report for more details.
Technavio highlights several emerging trends in the Sports Sponsorship Market:
Analytics integration in sports sponsorship, utilizing marketing analytics for comprehensive social media insights before, during, and after events to enhance sponsor understanding of brand perception and customer reach.
Identification of the most shared branding to strategically focus on highly visible locations for sponsor logos, potentially amplifying market impact.
Optimization of sponsorship placement based on extensive photo coverage to boost growth in the global sports sponsorship market.
Major players in the sports sponsorship market include Adidas AG, Hyundai Motor Co., and Rolex SA. For more information on these companies and their offerings, you can download the sample report.
Technavio has segmented the market based on type (signage, digital activation, club and venue activation, and others), application (competition sponsorship and training sponsorship), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
The signage segment is expected to experience notable expansion during the forecast period, encompassing revenue from naming rights (such as title, kit, and product sponsorship) and various stadium signs, including permanent, fixed, rotating panels, and video screens. Increased advertising investments from sponsors, driven by the rise of new sports leagues and the success of existing ones, are boosting growth within the global sports sponsorship market’s signage segment. Key markets for this segment include the US, the UK, China, India, Australia, and the UAE.
The sports sponsorship market is experiencing growth due to the rise of new sports leagues and increased advertising investments from sponsors, especially in signage, digital, and venue activation. Challenges like the lack of efficient ROI measurement tools persist, impacting sponsor interest. However, the integration of technology and analytics is aiding in ROI tracking. North America’s resurgence post-COVID-19 is expected to significantly contribute to market expansion. The market offers opportunities and challenges, shaping the evolving landscape for industry stakeholders. You can buy the report now for a comprehensive understanding of the market.
Related Reports:
Sporting Events Market: The Sporting Events Market is projected to grow by USD 90.42 billion with a CAGR of 8.23% during the forecast period 2021 to 2026.
Esports Market: The esports market is estimated to grow at a CAGR of 21.81% between 2022 and 2027. The size of the market is forecast to increase by USD 3,515.1 million.
TOC
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Type
7. Market Segmentation by Application
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
—
For the original version of this press release, please visit 24-7PressRelease.com here
