The participatory sports events are events for
which include primary customers are the event participants, such as
recreational golf tournaments, tennis tournaments, softball tournaments. The
participatory sports market consists of sales of sports services and other
related goods by organizations which include sub sections of golf courses and
country clubs, skiing facilities, marinas, fitness and recreational sports
centers and bowling centers. This market further includes sales over the entry
fees, merchandise and other related goods and services activities.
Fitness & health clubs have now started
offering instructor-led group fitness classes combining with the workout
formats. These combined formats include mix of traditional exercises for
exercising with the people. The popular combined fitness formats include the
cycling & boxing, treadmill running and strengthening the training, rowing
and body weight training. For instance hashing, ZUU, clubbercise, gorilla
circus and Zumba step are some of the key activities used in combined fitness
formats.
According to study, “Participatory
Sports Global Market Report 2019” the key companies operating in the
global participatory sports market are Brunswick Bowling, Murrey International,
QUBICAAMF, Ebonite, 24 Hour Fitness. The key players have adopted strategies in
the sports industry including business expansion by building new facilities in
cities, increase in revenue sources by investing in the infrastructure for
training and other recreational purposes, rise in revenue in new infrastructure
& improve in brand name and international presence, rise in revenue over
increase in sponsorship portfolios and merchandise sales.
Based on type, participatory sports market is
segmented into golf courses & country clubs, marinas, fitness &
recreational sports centers, skiing facilities, bowling centers and other
participatory sports. The bowling centers are now increasingly applying
technologies to offer better services to serve customers. The players have
started integrating high-end technological equipment such as auto scoring
systems, online reservation systems, cashless debit card system and touch
screen F&B systems. Based on ownership, market is segmented into standalone
and chained. In addition, based on revenue source, market is segmented into
merchandising, membership and others. Going forward, rising popularity of
esports, increasing sports sponsorships, economic growth, rise in the number of
internet accessible devices and emergence of multiple sports channels to capture
viewership will drive growth. Factors that would hinder the expansion of this
market within the future are an increasing threat from home entertainment and
increasing regulations on sports. Importance of sports has risen steadily in
emerging economies leading to the rise in governments’ spending on the event of
the sports industry, specifically into fixing sports infrastructure, building
teams in sports and attracting large investments
The participatory sports market is driven by
growth in popularity of sports, followed by increase in awareness about
fitness. However, increase in threat from home entertainment and rise in
regulation on community based sports may impact the market.
Based on geography, the North-American regions
holds major share in participatory sports market owing to change in lifestyle
of people and increase in popularity of various participatory sports in the
region. Whereas, Asian-Pacific and European regions are estimated to exhibit
substantial growth rate due to rise in use of technology for a more
personalized experience over the forecast period.
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Ankur Gupta, Head Marketing &
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