Global Sports Sponsorship Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Sports Sponsorship Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Sport Sponsorship is a powerful and impactful marketing technique. It consists of the association between a company (sponsor) and a sport club or event (sponsee).

Market Overview:

The latest research study on the global Sports Sponsorship market finds that the global Sports Sponsorship market reached a value of USD 49448.0 million in 2022. It’s expected that the market will achieve USD 64513.0 million by 2028, exhibiting a CAGR of 4.53% during the forecast period.

Influence of COVID-19 Outbreak on Sports Sponsorship Industry Development

Due to the ability of COVID-19 to spread rapidly, the global coronavirus outbreak has declared a pandemic in March 2020. The COVID-19 epidemic is infected with a large number of people, and its spread and scope far exceed SARS. At present, the number of confirmed cases in Worldwide has exceeded 18 million. Different industries are affected differently by the epidemic situation. Countries around the world continue to increase prevention and control to control the spread of the epidemic, but the impact of the epidemic on various industries is different. For example, the professional sports industry has been severely affected. Affected by the need to isolate the epidemic, in the United States, the National Basketball Association (NBA) and the National Hockey League (NHL) both suspended the season indefinitely. The Major League Baseball (MLB) and Major League Soccer (MLS) seasons are delayed or suspended (initially) for 2-4 weeks, and the PGA Tour has been canceled. Postponed or canceled e vents may result in decreased revenues for event organizers and media broadcasting these events. Cable companies are partially dependent on advertising, which means that any decline in revenue will affect profitability.

Since March, live sports activities worldwide have ceased, and opportunities for the sports industry to provide value to brand partners are limited, because cost reductions in industries that have cut sponsorship fees have also brought huge amounts to signing new deals. challenge. Originally 2020 was a sports year. The world’s top competitions such as the European Cup, the America’s Cup and the Tokyo Olympics will all be held one after another. However, as the events are postponed, a series of marketing and promotion activities of the original sponsors have been postponed accordingly, and the payment of sponsorship fees from Sponsors will also be delayed.

Secondly, in the field of sponsorship, the financial services industry has always been an important pillar in the field of sports sponsorship. However, under the epidemic situation, the financial services industry itself is also deeply troubled by it. Therefore, cutting expenditure in the field of sports sponsorship has become a necessary choice. Similarly, followed closely by the automotive, energy and aviation industries, which originally ranked in the top 10 in sports sponsorship spending last year. However, under the impact of the new crown epidemic, the automobile, energy and aviation industries have suffered heavy losses. Especially in 2019, the auto industry, which ranks second in the field of sports sponsorship, will also see a reduction in sponsorship spending this year.

In the long run, after the epidemic is under control, with the gradual recovery of sports events and the rise of the sports webcast industry in the fight against the epidemic, Sports Sponsorship will usher in a strong rebound in the future. The value of Sports Sponsorship will also increase.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Nike, Inc is one of the major players operating in the Sports Sponsorship market, holding a share of 2.69% in 2020.

NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products worldwide to retail stores, through its own stores, subsidiaries, and distributors.

adidas AG manufactures sports shoes and sports equipment. The Company produces products that include footwear, sports apparel, and golf clubs and balls. adidas sells its products worldwide.

Segmentation Overview:

Among different product types, Signage segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Competition Sponsorship segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Sports Sponsorship market covered in Chapter 3:

Red Bull
MillerCoors
Toyota
General Motors
AT&T
Adidas
Heineken NV
FedEx Corporation
Puma
Anheuser-Busch InBev
Microsoft
Nike, Inc
The Coca-Cola Company
Rolex
Ford Motor Company
PepsiCo

In Chapter 4 and Chapter 14.2, on the basis of types, the Sports Sponsorship market from 2018 to 2029 is primarily split into:

Signage
Digital Activation
Club and Venue Activation
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Sports Sponsorship market from 2018 to 2029 covers:

Competition Sponsorship
Training Sponsorship
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)