LONDON--(BUSINESS WIRE)--The sports sponsorship market is expected to grow by USD 5.33 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the sports sponsorship market in optimistic, probable, and pessimistic forecast scenarios.
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The sports sponsorship market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Decrease as compared to 2019.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Sports Sponsorship Market Participants:
adidas AG
adidas AG operates its business through segments such as Footwear, Apparel, and Hardware. The company sponsors FIFA World Cup and holds Official Partner, Supplier, and Licensee rights for the FIFA World Cup.
Hero MotoCorp Ltd.
Hero MotoCorp Ltd. operates its business through the Unified segment. The company is involved in the development, design, manufacture, assembly, and sale of vehicles, as well as the sale of related parts and accessories. The company offers sponsorship to various sporting events such as hockey, golf, and cricket.
Hyundai Motor Co.
Hyundai Motor Co. operates its business through segments such as Vehicle, Finance, and Others. The company has been a sponsor for the US PGA since 2011 and the official car sponsor of the NFL in the US since 2015.
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Sports Sponsorship Market 2020-2024: Segmentation
Sports sponsorship market is segmented as below:
-
Type
- Signage
- Digital Activation
- Club And Venue Activation
- Others
-
Geography
- North America
- Europe
- APAC
- South America
-
MEA
The sports sponsorship market is driven by the increase in sports sponsorship spending. In addition, other factors such as the emergence of new sports leagues are expected to trigger the sports sponsorship market toward witnessing a CAGR of about 2% during the forecast period.
Get more insights about the global trends impacting the future of the sports sponsorship market, Request a Free Sample Report @ https://www.technavio.com/talk-to-us?report=IRTNTR45241
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
