Sports tourism market size estimated to grow by USD 559.75 billion from 2022 to 2027; Increasing number of sporting events will drive growth - Technavio
NEW YORK, Feb. 9, 2023/PRNewswire/ -- Sports tourism market insights -
Vendors: 15+, including ATPI Ltd., BAC Sports Ltd., DTB Sports Management Ltd., Fanatic Sports Pvt. Ltd., Gala Management Services Ltd., Global Sports Travel and Tours Pty Ltd., International Sports Management Inc., ITC Travel Group, JTB India Pvt. Ltd., KNT CT Holdings, Match Hospitality AG, QuintEvents LLC, Sports Tours International Ltd., Sports Travel and Hospitality Group Ltd., Sportsnet Corp. Pty Ltd., The Hospitality Group, Thomas Cook India Ltd., travelOsports, Veda Sports Marketing Pvt. Ltd., Victory Sports Tours, among others
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
Segments: Type (Domestic sports tourism and International sports tourism), Product (Soccer tourism, Cricket tourism, Tennis tourism, and Others), and Geography (Europe, APAC, North America, South America, and Middle East and Africa)
In 2017, the sports tourism market was valued at USD 762.92 billion. From a regional perspective, Europe held the largest market share, valued at USD 268.78 billion. The sports tourism market size is estimated to grow by USD 559.75 billionfrom 2022 to 2027 at a CAGR of 12.88% according to Technavio.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including ?
ATPI Ltd. - The company offers sports tourism services such as management of travel, advice and consultancy, and efficient travel booking.
BAC Sports Ltd. - The company offers sports tourism such as rugby, tennis, golf, and football sporting events.
DTB Sports Management Ltd. - The company offers sports tourism services such as including tickets and corporate hospitality.
Fanatic Sports Pvt. Ltd. - The company offers sports tourism services such as sports ticketing, hospitality, and experiential travel.
Sports tourism market ? Market Dynamics
Major Drivers ?
Increasing number of sporting events
Rising focus on seating capacity expansion
Growing government support for sports tourism
KEY Challenges ?
Cancelation of sports events due to financial constraints
The sports tourism market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
What are the key data covered in this sports tourism market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the sports tourism market between 2023 and 2027
Precise estimation of the size of the sports tourism market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the sports tourism market industry across Europe, APAC, North America, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of sports tourism market vendors
The adventure tourism market size is predicted to surge by USD 2.50 trillion from 2021 to 2026 at a CAGR of 38.87%. The increasing disposable incomes is notably driving the adventure tourism market growth, although factors such as low penetration rate in developing economies may impede market growth.
The cultural tourism market is estimated to grow at a CAGR of 20.77% between 2022 and 2027. The size of the market is forecast to increase by USD 6600.71 million. The growing affordability is notably driving the cultural tourism market growth, although factors such as the high impact of terrorism may impede the market growth.
Sports Tourism Market Scope
Report Coverage
Details
Page number
173
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 12.88%
Market growth 2023-2027
USD 559.75 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
11.58
Regional analysis
Europe, APAC, North America, South America, and Middle East and Africa
Performing market contribution
Europe at 40%
Key countries
US, Japan, Germany, UK, and France
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
ATPI Ltd., BAC Sports Ltd., DTB Sports Management Ltd., Fanatic Sports Pvt. Ltd., Gala Management Services Ltd., Global Sports Travel and Tours Pty Ltd., International Sports Management Inc., ITC Travel Group, JTB India Pvt. Ltd., KNT CT Holdings, Match Hospitality AG, QuintEvents LLC, Sports Tours International Ltd., Sports Travel and Hospitality Group Ltd., Sportsnet Corp. Pty Ltd., The Hospitality Group, Thomas Cook India Ltd., travelOsports, Veda Sports Marketing Pvt. Ltd., and Victory Sports Tours
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Type
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Product
Exhibit 07: Executive Summary ? Chart on Market Segmentation by Area
Exhibit 08: Executive Summary ? Chart on Incremental Growth
Exhibit 09: Executive Summary ? Data Table on Incremental Growth
Exhibit 10: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 11: Parent market
Exhibit 12: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 13: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 14: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 15: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 17: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 18: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global sports tourism market 2017 - 2021
Exhibit 19: Historic Market Size ? Data Table on Global sports tourism market 2017 - 2021 ($ billion)
Exhibit 179: Validation techniques employed for market sizing
Exhibit 180: Information sources
14.5 List of abbreviations
Exhibit 181: List of abbreviations
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