Spectator sports industry comprises of the sales of spectator-sports services & related products by organizations that includes sub-sections of sports teams & clubs, race tracks and other spectator sports. The market includes sales from entry-fees, commodities and other related goods and services
Spectator sport is a sport featured
by the existence of spectator because its competition organized at the stadium
or specific venue. It has its own set of cultures for instance cheerleading,
pre-game, and half time entertainment like fireworks. Cricket, tennis,
volleyball, football, golf, and boxing are some of the most popular spectator
sports. Spectator sports exist on a huge band of popularity ranging from the
extremely unique to ubiquitous.
As per analysis, “Spectator Sports Global Market Report 2020-30: Covid
19 Impact and Recovery” some of the renowned companies that are currently
operating in the global spectator sports market include Manchester United;
Dallas Cowboys; FC Barcelona; New York Yankees; Real Madrid and among others.
Based on type, spectator sports market is segmented as racing & individual sports and sports team & clubs. Based on revenue source, market is segmented as merchandising, media rights, sponsorships, tickets and others. Based on type of sports, market is segmented as cricket, tennis, soccer, rugby/football and others.
The spectator sports market is
driven by increase in sports sponsorships, followed by emergence of new
transforming potential markets. Increase in broadcasting of sports events
coupled with media reporting has affected the number of individual attending
sports due to ability to experience the sport an increasingly enhanced the
experience including highlights, commentary, replays, statistics and analysis
without the need to physically attend. However, growth in regulation on sports
may impact the market. Moreover, development and growth of digital technology
such as new streaming services, mobile viewing and, virtual reality is a
leading region in global market.
Some technologies being implemented
in spectator sports market, which
are generally augmented reality (AR) and virtual reality (VR). AR is a specific
technology that utilizes a straightforward screen or projection technology to
overlay the virtual images in the real-world around the users. The utilization
of AR technology in sports augments the adoption of spectator sports and
enhances the spectators’ viewing experiences, therefore driving the demand for
sports-events. Augmented reality also plays an integral role in driving the
merchandize sales for sports teams that supports their overall revenues.
Furthermore, sports-organizers are implementing virtual-reality technology to
improve the observers experience in sporting-events. VR generates sounds,
images, and other sensations that create a physical presence in an imaginary
environment.
Based on geography, the
North-America is a leading region in global spectator sports market owing to
rise in internet accessible devices across the region. The Europe and
Asia-Pacific regions are expected to witness higher growth rate due to growth
in economy and increase in sponsorship over the forecast period. It is
estimated that future of the global spectator sports market will be bright as a
result of increase in sports channels to capture viewership during the forecast
period.
For More Information,
Click on the Link Below:-
Global
Spectator Sports Market
Related Reports:-
Spectator Sports Global Market Opportunities and
Strategies To 2023
Spectator Sports Global Market Report 2019
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Ken Research
Ankur Gupta, Head Marketing & Communications
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