Sports Sponsorship Market 2019-2023| Evolving Opportunities with adidas and Nike, Inc | Technavio
LONDON--(BUSINESS WIRE)--Sep 11, 2019--
Technavio has been monitoring the global sports sponsorship market and the market is poised to grow by USD 12.15 billion during 2019-2023, progressing at a CAGR close to 5% during the forecast period.
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Technavio has published a new market research report on the global sports sponsorship market.
Read the 126-page research report with TOC on "Sports Sponsorship Market Analysis Report by type (signage, digital activation, club and venue activation, and others) and by Geography (APAC, Europe, North America, MEA, and South America) and Segment Forecasts, 2019 - 2023"
The market is driven by the emergence of new sports leagues. In addition, increasing sports sponsorship spending is anticipated to further boost the growth of the sports sponsorship market.
Currently, sporting organizations across the world rely on sponsors to provide funds, products, and services, which drives profitability for all the associations involved. The increasing number of new sporting events worldwide is creating an avenue for new sponsorships across different sports. This includes the launch of new tournaments as well as the expansion of existing competitions in new venues. Such initiatives are attracting huge audiences, which is encouraging sponsors to invest in these events. The increasing number of sporting events will, therefore, drive the growth of the global sports sponsorship market during the forecast period.
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Major Five Sports Sponsorship Market Companies:
adidas owns and operates businesses under various segments such as Footwear, Apparel, and Hardware. In 2018, the company signed a deal with the National Hockey League (NHL) and acquired the sponsorship rights for on-ice uniforms, licensed apparel, and headwear. Some of the other key sports sponsorships of adidas include international and regional events such as FIFA World Cup 2018, UEFA EURO 2012 & 2016, UEFA Champions League. adidas sponsors international football teams such as Spain, Germany, Argentina, Russia, Mexico, Japan, Denmark, and Greece. The company also sponsors club football teams such as Real Madrid, AC Milan, and FC Bayern Munich.
Nike, Inc owns and operates businesses under various segments such as footwear, apparel, equipment, and others. In 2018, Nike, Inc signed a deal with National Football League (NFL). Under the terms of the deal, the company will continue to provide all 32 NFL teams with uniforms and sideline apparel for use during all games. The company will also be the official kit sponsor of premier league soccer club Tottenham Hotspur until 2033. Nike offers sponsorships to a wide range of teams, events, and sportspersons across all major sporting leagues.
PepsiCo has business operations under various segments, namely Frito-Lay North America, Quaker Foods North America, North America Beverages, Latin America, Europe Sub-Saharan Africa, and Asia, the Middle East, and North Africa. In 2018, PepsiCo extended its deal with National Hockey League for five years until 2023. According to the deal, PepsiCo will be the official non-alcoholic beverage, sports nutrition and savory snack partner for NHL until 2023. PepsiCo also extended its partnership with UEFA in 2018 for the next three years. This agreement includes sponsorship rights for the annual UEFA Super Cup match between the winners of the Champions League and of the European second-tier club competition, the UEFA Europa League, in 2018, 2019 and 2020.
Rolex runs its business operations under the segment: watches. Rolex sponsors numerous international sporting events and sportspersons. A few of the sporting events sponsored by the company include the US Open, Evian Championship, Ryder Cup, and the Presidents Cup. The company also sponsors motorsport events such as Formula 1.
THE COCA-COLA COMPANY
THE COCA-COLA COMPANY has business operations under various segments, namely Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Bottling Investments, and Corporate. The company has been the world sponsor of Olympic games for more than 90 years and is expected to be one of the main sponsors of Tokyo Olympics 2022. The company also offers a wide range of sponsorships to other international events such as the FIFA World Cup and the ICC Cricket World Cup.
Technavio has segmented the sports sponsorship market based on the type and region.
Sports Sponsorship type Outlook (Revenue, USD Million, 2019 - 2023)
- Digital activation
- Club and venue activation
Sports Sponsorship Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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INDUSTRY KEYWORD: SPORTS ADVERTISING COMMUNICATIONS OTHER SPORTS
SOURCE: Technavio Research
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PUB: 09/11/2019 08:30 AM/DISC: 09/11/2019 08:30 AM