According to Market Statsville Group (MSG), the size of the global sports sponsorship market is forecast to register a CAGR of 7.5% to reach USD 112.2 billion in 2030 from USD 64.8 billion in 2021. Sports sponsorship is financial support for a game by one person. or by an organization for mutual benefit. Sponsorship takes place at all levels of the sport. For example, athletes may receive large sums of money for particular sportswear or branded equipment, or school teams may have a sponsored team. Sports sponsorships can be seen in various ways, such as the brand logo printed on a sports team’s jersey.
Sports sponsorship has benefits such as increasing company or brand awareness, advertising products and services, providing rewards or incentives for staff and customers, improving revenue or sales through better media exposure, increasing brand loyalty/premium pricing and lower taxes through tax relief. .
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Global Sports Sponsorship Market Dynamics
The increasing number of sporting events as well as the fact that sponsorships have a broader reach than traditional marketing methods such as advertising and sales promotions are expected to drive the sports sponsorship market. sports sponsorship in the coming years.
The growing popularity of sports and the demand for online sports by viewers is anticipated to increase the demand for sports sponsorship during the study period.
Also, the popularity of esports is increasing day by day. E-sports is an electronic sport, which includes PC, table and mobile games. Due to the huge popularity of esports events among gamers and viewers, the esports industry is becoming profitable. Various universities and colleges offer scholarships and even esports courses. So that players can have the opportunity to pursue esports as a professional career.
Scope of the global sports sponsorship market
The study categorizes the sports sponsorship market based on sponsorship type, application, and sport type on a regional and global basis.
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Insights by Sponsorship Type (Sales, USDM, 2017-2030)
Activation Club and Venue Activation
By Application Outlook (Sales, USDM, 2017-2030)
Sponsorship Training Sponsorship
Outlook by Sport Type (Sales, $M, 2017-2030) Basketball
Hockey Esports Other Outlook by Region (Sales, $M, 2017-2030) North America TO US Canada Mexico Europe Germany Italy France United Kingdom Spain Poland Russia The Netherlands Norway Czech Republic Rest of Europe
Australia and New Zealand
Rest of Asia Pacific
Rest of South America
Middle East and Africa
United Arab Emirates
Africa North Africa
Rest of MEA
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Asia Pacific represents the highest CAGR during the forecast period
Based on regions, the global sports sponsorship market has been segmented into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to have the highest CAGR in the global sports sponsorship market during the forecast period.
India is the fastest growing region in Asia Pacific, especially in esports. Recently, BGMI game developer Krafton named iQoo as a title sponsor. The company agreed to be the title sponsor of four tournaments, namely BMOC: Battlegrounds Mobile India Open Challenge 2022, BMPS: Battlegrounds Mobile India Pro Series 2022 Season 1, BGIS: Battlegrounds Mobile India Series 2022, BMPS: Battlegrounds Mobile India Pro Series 2022 Season. .
Also, in January 2022, Tata took over title sponsorship of IPL (Indian Premium League) Vivo. Tata group signed an agreement with BCCI (Board of Control for Cricket in India) for the sponsorship of the IPL title for the 2022 and 2023 seasons. Tata Group has reportedly paid almost USD 86.5 million for the title sponsorship .
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Key Market Players in the Global Sports Sponsorship Market
Coca Cola Company