The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rising number of sporting events is likely to spur innovation in sports sponsorship manufacturing, propelling the market throughout the forecast period.

The global sports sponsorship market is expected to grow from $60.09 billion in 2022 to $63.74 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The global sports sponsorship market size is expected to reach $79.42 billion in 2027 at a CAGR of 5.7%.

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 Global Sports Sponsorship Market Segments Include:

• By Type: Signage, Digital Activation, Club And Venue Activation, Other Types
• By Application: Competition Sponsorship, Training Sponsorship, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global sports sponsorship market in 2021.

Major Market Players in the sports sponsorship market include Adidas, Nike Inc., Pepsi Co., Rolex, The Coca-Cola Company, Puma, Samsung, Castrol, Tata, Jio, Intel, Qatar Airways Group, Rolex SA, Hero MotoCorp Ltd., Hyundai Motor Co.

Technological developments are a major trend that is gaining traction in the sports sponsorship sector. Companies in the sports sponsorship market are embracing new technology in order to expand. For example, Meta, a US-based technology company, released the Xtadium VR (virtual reality) app for its Oculus Quest 2 headgear in October 2022. Xtadium is a platform that offers 360-degree VR streaming of sporting events in up to 8K video quality. The platform contains real-time statistics overlays and eight various camera angles, allowing users to have a more personalised watching experience. Users can view live events, on-demand replays, and immersive highlights. Xtadium’s purpose is to employ VR technology to simulate the sensation of being at a sporting event as accurately as possible.

The Sports Sponsorship Global Market Report 2023  provides a sports sponsorship market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The sports sponsorship market forecast analyzes sports sponsorship market size, sports sponsorship market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A firm or brand provides financial or material support to a sports team, event, or athlete in exchange for visibility and brand awareness through sports sponsorship.

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