Global sport sponsorship market set to grow by US$22.6 billion in years to 2027

February 12, 2024

The expansion of leagues and the creation of new ones is set to see the global sports sponsorship market increase by US$22.64 billion between 2022 and 2027, accelerating at a compound annual growth rate (CAGR) of 6.02% during the forecast period.

According to a newly released report form leading technology research and advisory company Technavio, this rise not only amplifies opportunities for sports teams and athletes but also amplifies fan engagement within evolving sports leagues.

The report, Sports Sponsorship Market by Type, Application and Geography, also advises that the integration of sports technology, sports nutrition, and sports drinks, alongside an increase sports gambling, sports tourism and sports training and coaching services, will also contributes to the market's progression.

Among trends identified in the report, Technavio identify the growing prominence of analytics, particularly within sport analytics companies, pointing out that this trend encompasses various factors, including the integration of analytics in sports events, stadiums, merchandise, endorsements, and the rapidly growing domain of esports.

It points out that sports media outlets and event organisers are increasingly reliant on sports data analytics to enhance strategies, marking a significant shift in how sponsorships are approached and leveraged within the sports sponsorship market.

Technavio also indicate that the foremost challenge impeding the global sports sponsorship market is the absence of efficient tools to accurately measure returns on investment (ROI) with this deficit affecting sponsorship agencies, fitness and wellness brands, sports betting companies, and stakeholders involved in broadcasting rights. This inability to precisely gauge ROI impacts various sectors, including sports facilities, ticketing platforms, social media platforms, and sports medicine and healthcare, hindering comprehensive evaluation and optimisation of sponsorship strategies.

Technavio’s report has segmented the market based on type (signage, digital activation, club and venue activation, and others), application (competition sponsorship and training sponsorship), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The signage segment is expected to experience notable expansion during the forecast period, encompassing revenue from naming rights (like title, kit, and product sponsorship) and various stadium signs such as permanent, fixed rotating panels, and video screens. Increased advertising investments from sponsors, driven by the rise of new sports leagues and the success of existing ones, are boosting growth within the global sports sponsorship market's signage segment. Key markets for this segment include the US, the UK, China, India, Australia and the United Arab Emirates.

Click here for more information.

9th February 2024 - CyberCX report indicates growing cyber risks to global sport

27th January 2024 - Further turmoil at Netball Australia as Director behind Hancock Prospecting sponsorship saga quietly steps down

26th January 2024 - World Athletics and Sony sign new sponsorship agreement

18th January 2024 - Netball Australia agrees one-year sponsorship with Origin Energy

15th November 2023 - Tenpin Bowling Australia secures major sponsorship deal with SCS Group

20th October 2023 - Considering constitutional changes media reports focus on Swimming Australia’s loss of sponsorship

26th September 2023 - Major sponsorship for 51st NSW Aboriginal Rugby League Knockout

20th September 2023 - Queensland Rugby League secures three-year sponsorship from Westpac

16th August 2023 - rebel’s sponsorship of the Matildas aims to celebrate athletes and inspire grassroot participation

11th August 2023 - Fintech group Fexco announces corporate sponsorship of Tonga Rugby Team

2nd August 2023 - AFLW secures extended sponsorship from resources giant BHP

12th July 2023 - A quarter of State of Origin sponsorships feature ‘harmful’ products

21st June 2023 - Indian Cricket bans Alcohol, Athleisure, Gambling and Cryptocurrency sponsorship

19th June 2023 - Bill introduced to restrict junk food advertising does not cover sports sponsorship

10th June 2023 - Central Coast Mariners and MATE extend major sponsorship deal

5th June 2023 - AirAsia X returns to sport sponsorship with Gold Coast Marathon agreement

31st May 2023 - Climate Council reveals code to eliminate fossil fuel sponsorships from the arts and sport

30th May 2023 - NBL welcomes return of Mitsubishi sponsorship

28th April 2023 - YouGov Sport reveals innovative sponsorship prospecting tool

28th April 2023 - Liberty extends naming rights partnership with A-League Women and agrees major sponsorship with A-League Men

24th March 2023 - TCL’s 2023 Australasian sponsorships highlight powerful connection between technology and sport

24th February 2023 - Sponsorship News Conference returns to Sydney in June

27th January 2023 - Misrepresentation of role of Australian cricket captain Pat Cummins in energy sponsor’s exit from the sport

12th December 2022 - KFC renews Cricket Australia extended KFC sponsorship into third decade

16th November 2022 - Renewed sponsorship to drive tennis development in regional Western Australia

31st October 2022 - Visit Victoria’s Diamonds sponsorship a financial lifeline for Netball Australia

22nd October 2022 - Hancock Prospecting to end Netball Australia sponsorship

21st October 2022 - Sponsorship’s new paradigm

15th March 2022 - Live music industry set to experience significant growth in the Asia-Pacific region

22nd March 2021 - Report suggests global amusement park market will grow almost 7% in years to 2024

20th May 2020 - Global sports sponsorship market predicted to fall by 37% this year

3rd May 2019 - Global sports sponsorship spending set to reach US$65 billion this year

8th March 2016 - Sport sponsorship pays off for National Australia Bank

Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.