The participatory sports events are events for which include primary customers are the event participants, such as recreational golf tournaments, tennis tournaments, softball tournaments. The participatory sports market consists of sales of sports services and other related goods by organizations which include sub sections of golf courses and country clubs, skiing facilities, marinas, fitness and recreational sports centers and bowling centers. This market further includes sales over the entry fees, merchandise and other related goods and services activities.
Fitness & health clubs have now started offering instructor-led group fitness classes combining with the workout formats. These combined formats include mix of traditional exercises for exercising with the people. The popular combined fitness formats include the cycling & boxing, treadmill running and strengthening the training, rowing and body weight training. For instance hashing, ZUU, clubbercise, gorilla circus and Zumba step are some of the key activities used in combined fitness formats.
According to study, “Participatory Sports Global Market Report 2019” the key companies operating in the global participatory sports market are Brunswick Bowling, Murrey International, QUBICAAMF, Ebonite, 24 Hour Fitness. The key players have adopted strategies in the sports industry including business expansion by building new facilities in cities, increase in revenue sources by investing in the infrastructure for training and other recreational purposes, rise in revenue in new infrastructure & improve in brand name and international presence, rise in revenue over increase in sponsorship portfolios and merchandise sales.
Based on type, participatory sports market is segmented into golf courses & country clubs, marinas, fitness & recreational sports centers, skiing facilities, bowling centers and other participatory sports. The bowling centers are now increasingly applying technologies to offer better services to serve customers. The players have started integrating high-end technological equipment such as auto scoring systems, online reservation systems, cashless debit card system and touch screen F&B systems. Based on ownership, market is segmented into standalone and chained. In addition, based on revenue source, market is segmented into merchandising, membership and others. Going forward, rising popularity of esports, increasing sports sponsorships, economic growth, rise in the number of internet accessible devices and emergence of multiple sports channels to capture viewership will drive growth. Factors that would hinder the expansion of this market within the future are an increasing threat from home entertainment and increasing regulations on sports. Importance of sports has risen steadily in emerging economies leading to the rise in governments’ spending on the event of the sports industry, specifically into fixing sports infrastructure, building teams in sports and attracting large investments
The participatory sports market is driven by growth in popularity of sports, followed by increase in awareness about fitness. However, increase in threat from home entertainment and rise in regulation on community based sports may impact the market.
Based on geography, the North-American regions holds major share in participatory sports market owing to change in lifestyle of people and increase in popularity of various participatory sports in the region. Whereas, Asian-Pacific and European regions are estimated to exhibit substantial growth rate due to rise in use of technology for a more personalized experience over the forecast period.
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Ankur Gupta, Head Marketing & Communications