Sports Events Market Projected to Surpass $609 Billion, with 10.5% CAGR Through 2031

Sports events market was valued at $184.61 billion in 2021, and is projected to reach $609.07 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, June 20, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Sports Events Market by Revenue Source, by Age Group: Global Opportunity Analysis and Industry Forecast, 2021-2031". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The global sports events market was valued at $184.61 billion in 2021, and is projected to reach $609.07 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031.

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Some of the factors driving market expansion in the area include the expanding sporting events business, rising per capita income, the burgeoning middle-class population, and rising disposable income. In addition, the growing popularity of major sporting events such as the Tokyo Olympics and the Cricket World Cup, along with rising digitization in China and India, further fuel market expansion.

The market is expected to have plenty of opportunities due to the widespread acceptance of digital tickets and the expanding use of smartphones worldwide. However, during the anticipated timeframe, market development is anticipated to be constrained by the unpredictability of ticket pricing and a lack of price management.

According to the sports events market analysis, the sports events market is segmented into revenue source, age group and region. The basis of revenue source, the tickets segment was the significant contributor to the market, with $63,865.1 million in 2021, and is estimated to reach $202,205.6 million by 2031, at a CAGR of 10.0% during the forecast period. A ticket is a voucher that indicates that an individual is entitled to admission to sports event. Digital tickets and online printable tickets, and paper tickets are majorly used forms of the sports event tickets. Online tickets for sports events has been gaining huge popularity owing to its convenience offered and hassle free payment getaways. Digital ticketing creating the high level of transparency, which is expected to reduce the black ticketing practices. Thus, above mentioned factors are projected to spur the sports events market growth during the forecast period.

Based on age group, the 21 to 40 years segment accounted for the largest share in 2021, contributing to nearly half of the global sports events market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 11.1% from 2022 to 2031, owing to active participation of individuals aged between 21 and 40 years in events such as exhibitions, conferences, sports events, seminars, and music concerts. The report also identifies segments including below 20 years and above 41 years.

Region wise, North America garnered the major sports events market share in 2021, and is expected to maintain its market share throughout Sports events market forecast period. In 2020, North America had the highest revenue share of more than 50%. The main driver of regional growth is the rise in viewership for sports other than football in United States. With well-known clubs like the Bulls, Cavaliers, 76ers, Raptors, Mavericks, Warriors, Trail Blazers, and NY Knicks, football is the most watched sport in the area. The games are watched by a sizable audience both offline and online. In 2018, 851 824 people watched the Bulls on ESPN, and 843 042 people watched the Cavaliers.

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The players operating in the global sports events industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report are Ace Ticket Worldwide, Inc., GooTickets.Com, Razorgator LLC, SeatGeek, StubHub, Ticket City, Inc., Tickets.com, LLC, Ticketek Pty Ltd, Ticketmaster and TickPick LLC.