The sports sponsorship market is projected to grow at a CAGE of 6.72%, reaching USD 86.60 Billion by 2025, driven by new sports leagues and high ROI.
Global Sports Sponsorship Market is valued at USD 55 Billion in 2018 and is expected to reach USD 86.60 Billion by 2025 with the CAGE of 6.72% over the forecast period. The emergence of new sports leagues is one of the primary factors that will trigger the growth of the global market in the upcoming years
Scope of Global Sports Sponsorship Market Report-
Sports sponsorship is a powerful and impactful marketing technique. It consists of the suggestion between a company (sponsor) and a sports club or event (sponsee). A popular example is a brand logo printed in team’s jersey. Visibility and media exposure are guaranteed. Also, it gives the user a chance to stand out and differentiate. Sports sponsorship has witnessed a lucrative growth as more money been put into marketing with athletes, sports team, or sporting events.
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In times of advertising message overloads, sport offers something extremely valuable: real emotions. In connection with the digital possibilities, enormous opportunities arise for global players as well as small start-ups. Nowadays, sponsorship accounts for an enormous portion of the sports business industry. Sports organizations rely on sponsors to provide funds, products, and services, which ultimately drive profitability for all parties involved.
Sports Sponsorship Market Key Players:
Given the current barometer, however, it is clear that professionals working in sports sponsorship today and in the future will have to fight consumer backlash by striking just the right balance between sport and commercialism, maintaining the integrity of competition while sustaining financial viability.
Global sports sponsorship market report is segmented on the basis of type, application and regional & country level. Based on type, global sports sponsorship market is classified into signage, digital activation, club and venue activation, and others. Based on application, global sports sponsorship market is classified into competition sponsorship, training sponsorship, and others.
Global Sports Sponsorship Market Dynamics –
The increasing number of sports’ events is the key factor driving the growth of the global sports sponsorship market. Additionally, sponsorship has demonstrated sustained growth over the last 20+ years that consistently exceeds the growth of traditional marketing spends like advertising and sales promotions. In 2018, traditional media spending in North America was projected to grow just 2.4%. Clearly, corporations have recognized the value sponsorship adds to their overall marketing portfolio – creating and sustaining countless jobs in several sectors of the sports arena.
The benefits and potential return on investment (ROI) associated with aligning a brand with a sport, sports team, or athlete, usually outweigh the possible problems. In addition, increasing number of new sports leagues is also foster the growth of the global sports sponsorship market within the forecast period. Sporting organizations across the world depends on sponsors to provide funds, products, and services, which further supplement the profitability for all the associations involved.
However, the lack of efficient metrics to measure sports sponsorship ROI had been one of the essential challenges faced by the sponsors. Also, the increasing number of new sporting events worldwide is creating an avenue for new sponsorships across different sports.
Key Benefits for Sports Sponsorship Market Reports
Global Sports Sponsorship Market Segmentation:-
By Type Analysis:
By Application Analysis:
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By Region
North America
Europe
Asia-Pacific
LAMEA
Global Sports Sponsorship Market Regional Analysis – North America will account for the largest share of the sports sponsorship market during the forecast period. Several factors such as the emergence of new sporting events coupled with the increasing sports sponsorship spending will drive the growth of the market.
The Asia Pacific is the fastest-growing region for the sports sponsorship market because of several activities. For instance, according to Asian Sponsorship News Index (ASN), the Asian sponsorship received a 13 % boost in 2018, a year which featured the Asia Games in Indonesia and the winter Olympic Games in South Korea setting a record new total value of USD 9.65 billion, 8.4% above the previous high in 2016.
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The article discusses the growth and dynamics of the global sports sponsorship market.
The emergence of new sports leagues and the high ROI of sponsorships are key drivers.
One major challenge is the lack of efficient metrics to measure sports sponsorship ROI.
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