The global spectator sports market is expected to grow from $127.04 billion in 2021 to $181.47 billion in 2022 at a compound annual growth rate (CAGR) of 42.8%. The forecast comes from a new US-based survey from the Business Research Group of some of the biggest brands in the sports sector but also includes information drawn from around the world.
The massive bounce back from the challenges of a restricted spectator experience due to Covid over the past two years will lead to an expected market value of $272.0 billion in 2026 at a CAGR of 10.6%.
The spectator sports market consists of sales of spectator sports services and related goods by teams leagues and associations that provide live sporting events for a paying audience.
For the purposes of this research, these include media rights, merchandising, tickets, sponsorship and matchday revenue.
The outbreak of Covid acted as a massive restraint on the spectator sports market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered across the sports sector.
Sports organizers are implementing virtual reality (VR) technology to improve the spectators’ experience in sporting events.
Clubs and teams are experimenting with simulated and 360-degree environments to enhance the match viewing experience of the spectators by allowing them to have a virtual walkthrough of the stadium or the race track and view the match at different angles.
North America was the largest region in the spectator sports market in 2021. Africa is expected to be the fastest-growing region over the next number of years.
Surveys like this can give confidence to sporting bodies around the level of investment they might be making but will also be noted by venture capital investors.
There are very few sectors with the solidity, heritage and reach of sport that can come close to generating those kinds of growth figures.
