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NEW YORK, Sept. 13, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global sports sponsorship market size is estimated to grow by USD 21.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 5.38% during the forecast period. Increasing sports sponsorship spending is driving market growth, with a trend towards analytics gaining prominence in sports sponsorship. However, potential negative outcomes associated with sports sponsorships poses a challenge. Key market players include Adidas AG, Anheuser Busch InBev SA NV, Electronic Arts Inc., Etihad Airways PJSC, Hero MotoCorp Ltd, HX Entertainment Ltd., Hyundai Motor Co., MACRON SPA, Nike Inc., PUMA SE, Qatar Airways Group Q.C.S.C., Red Bull GmbH, Renault SAS, Rolex SA, Samsung Electronics Co. Ltd., Super Group SGHC Ltd., and The Coca Cola Co..
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Sports Sponsorship Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2017 – 2021 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.38% |
Market growth 2024-2028 |
USD 21.1 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
5.11 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 34% |
Key countries |
US, Germany, UK, China, and Japan |
Key companies profiled |
Adidas AG, Anheuser Busch InBev SA NV, Electronic Arts Inc., Etihad Airways PJSC, Hero MotoCorp Ltd, HX Entertainment Ltd., Hyundai Motor Co., MACRON SPA, Nike Inc., PUMA SE, Qatar Airways Group Q.C.S.C., Red Bull GmbH, Renault SAS, Rolex SA, Samsung Electronics Co. Ltd., Super Group SGHC Ltd., and The Coca Cola Co. |
Market Driver
The sports sponsorship market has faced the challenge of measuring the return on investment (ROI) for several years. However, the introduction of marketing analytics is poised to address this issue. Marketing analytics gathers social media data from customers before, during, and after sports events, enabling sponsors to gauge public perception towards their brand. Additionally, it assesses customer reach, which refers to the number of individuals exposed to the sponsor’s marketing messages at a sponsorship activation. In the case of multiple sponsorship investments, marketing analytics can determine the ROI of each individual sponsorship. Furthermore, image analysis technology enhances the effectiveness of stadium sponsorships by recognizing logos in photographs, allowing sponsors to optimize signage placement based on frequency and reach. These factors are expected to fuel the expansion of the global sports sponsorship market during the forecast period.
Businesses increasingly see value in sponsoring sports organizations, teams, leagues, events, and individual athletes. This exchange of funds for goods, services, or promotional opportunities provides brand exposure and visibility to large and passionate consumer bases. The Olympics and FIFA World Cup are prime examples of global events offering significant brand awareness. Digital and social media platforms offer new avenues for engagement with sports fans, who demonstrate immense loyalty and increased interest. However, the cost of sports sponsorship can be exorbitant, making it a challenge for startups and smaller enterprises. Regulatory restrictions and prohibitions on advertising specific products or in certain countries add complexity. Technological developments, such as augmented reality and virtual advertising, offer innovative solutions. Infrastructure investments and strategic brand partnerships can enhance ideals and reputation. The return on investment (ROI) justifies the cost for many businesses seeking to reach new markets and audiences.
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Market Challenges
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Segment Overview
This sports sponsorship market report extensively covers market segmentation by
1.1 Signage- The sports sponsorship market is a significant business sector, with companies investing in partnerships with sports teams and events to increase brand visibility and customer engagement. Sponsorships can take various forms, including product placements, advertising, and experiential activations. These collaborations benefit both parties, as businesses gain marketing exposure, and sports organizations secure financial support. The sports sponsorship market continues to grow, driven by the increasing popularity of sports and the desire for authentic brand connections.
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Research Analysis
The Sports Sponsorship Market is a dynamic and ever-evolving industry where businesses engage with sports organizations, teams, leagues, events, individual athletes, and more, to exchange funds, goods, and services. This partnership offers various promotional opportunities, enhancing brand visibility among passionate sports fans and consumers. The market caters to diverse target audiences, reaching new markets through the globalization of sports. Technological developments, including digital and social media platforms, have revolutionized sponsorship, providing a direct avenue for brands to connect with fans online. New technologies like augmented reality and infrastructure upgrades further enrich the sponsorship experience. Overall, the sports sponsorship market is a valuable investment for businesses seeking to engage with their audience in a meaningful and impactful way.
Market Research Overview
The sports sponsorship market is a dynamic and ever-evolving industry where businesses engage with sports organizations, teams, leagues, events, individual athletes, and more, to exchange funds, goods, and services for promotional opportunities and brand exposure. This partnership offers businesses access to passionate and loyal consumer bases, increased interest, and engagement with sports fans. The Olympics and FIFA World Cup are notable global events that attract significant sponsorship. Brands seek to boost their brand awareness, visibility, and ideals through sports sponsorship, reaching new markets and consumers through digital, social media, and online platforms. However, the costs of sports sponsorship can be exorbitant, making it a challenge for startups and smaller enterprises to secure a return on investment (ROI). Regulatory restrictions, prohibitions on advertising specific products in certain countries, reputation risk, economic downturns, instability, and lower spending are other factors that impact the sports sponsorship market. Technological developments, such as augmented reality and virtual advertising, offer innovative solutions to increase infrastructure and strategic brand engagement.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
SOURCE Technavio
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