Sports And Arts Promoters Global Market Report 2021: COVID-19 Impact And Recovery To 2030
The Business Research Company’s Sports And Arts Promoters Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, June 16, 2021 /EINPresswire.com/ — Sports organizers are implementing virtual reality technology to improve the spectator experience in a sporting event. Virtual reality technology generates images, sounds and other sensations that simulates a physical presence in an imaginary environment. Clubs and teams are experimenting with simulated and 360-degree environments to enhance the match viewing experience of the fans by allowing them to have a virtual walkthrough of the stadium or the race track and view the match at different angles. For instance, NBA game between the Sacramento Kings and San Antonio Spurs was broadcasted in VR. The viewers could watch the action from a myriad of angles, including underneath the basket. NASCAR has created an interactive fan area at the racetracks with the implementation of virtual reality.
The major players covered in the sports and arts promoters industry are Live Nation Entertainment Inc, Red Frog Events LLC, Premier Exhibitions Inc, NightCulture Inc.
The sports and arts promoters services market consists of sales of sports and arts promoters’ services and related goods by entities (organizations, sole traders and partnerships) that organize, promote, and manage live performing arts productions, sports events and other events such as state fairs, county fairs, agricultural fairs, concerts, and festivals; and manage and provide the staff to operate arenas, stadiums, theaters or other related facilities for rent to other promoters. Customers for sports and arts promoters include independent artists and performing arts companies.
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The global sports and arts promoters market size is expected to grow from $149.64 billion in 2020 to $175.13 billion in 2021 at a compound annual growth rate (CAGR) of 17%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $244.12 billion in 2025 at a CAGR of 9%.
Western Europe is the largest region in the global sports and arts promoter market, accounting for 32% of the market in 2020. Asia Pacific is the second largest region, also accounting for about 32% of the global market. Africa was the smallest region in the global sport and art promoter market.
TBRC’s arts and sports promoters market report is segmented by type into sports promoters and arts promoters and by end-users into individuals and companies.
Sports And Arts Promoters Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides sports and arts promoters market overview, forecast sports and arts promoters market size and growth for the whole market, sports and arts promoters market segments, and geographies, sports and arts promoters market trends, sports and arts promoters market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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