Dublin, July 22, 2021 (GLOBE NEWSWIRE) — The “Sports Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery” report has been added to ResearchAndMarkets.com’s offering.The global sports market reached a value of nearly $388.3 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.4% since 2015. The market declined from $458.8 billion in 2019 to $388.3 billion in 2020 at a rate of -15.4%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to reach $599.9 billion by 2025, and $826.0 billion by 2030.Growth in the historic period resulted from rapid urbanization, growth in emerging economies and emergence of multiple channels to capture viewership. Factors that negatively affected growth in the historic period were covid-19 pandemic, doping scandals, shortage of sports officials and climate changes. Going forward, emergence of e sports, rising sponsorships, and increase in internet accessible devices will drive the growth. Factors that could hinder the growth of the sports market in the future include threat from home entertainment and increasing regulations on sports.The sports market is segmented by type into participatory sports and spectator sports. The participatory sports market was the largest segment of the sports market segmented by type, accounting for 72.1% of the total in 2020. Spectator sports is expected to be the fastest growing segment in the sports market segmented by type, going forward, at a CAGR of 11.1% during 2020-2025. The fitness and recreational centers market was the largest segment of the participatory sports market segmented by type, accounting for 39.9% of the total in 2020. The other participatory sports is expected to be the fastest growing segment in the participatory sports market segmented by type, going forward, at a CAGR of 10.9% during 2020-2025.North America was the largest region in the global sports market, accounting for 35.0% of the total in 2020. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the sports market will be South America and the Middle East, where growth will be at CAGRs of 12.1% and 11.3% respectively. These will be followed by Eastern Europe, and Asia Pacific, where the markets are expected to grow at CAGRs of 10.5% and 10.4% respectively.The top opportunities in the sports market segmented by type will arise in the participatory sports segment, which will gain $136.7 billion of global annual sales by 2025. The top opportunities in the sports market segmented by revenue source will arise in the sponsorship segment, which will gain $71.1 billion of global annual sales by 2025. The top opportunities in the participatory sports market segmented by type arise in the fitness and recreational sports centers segment, which will gain $55.0 billion of global annual sales by 2025. The top opportunities in the spectator sports market segmented by type will arise in the sports teams and clubs segment, which will gain $55.1 billion of global annual sales by 2025.Key Topics Covered:

By A Silva