Insights on the fastest growing sports for entrepreneurs, new opportunities and start-ups

Looking at the sports industry, it may feel like it’s been around forever, but it’s changing rapidly now.In collegiate sports, power is shifting from colleges to athletes. Professional sports teams are looking for better ways to generate revenue and connect with their fan base. A sport like pickleball isn’t exactly new, but it’s exploded in recent years due to a number of factors. And online, esports are growing exponentially. Deloitte’s Annual Sports Industry Outlook explores how these trends could create new opportunities and challenges for both organizations involved in sports and entrepreneurs looking to enter this market. I’m searching

In addition to the growing sports segment, technology will play a huge role in the future of sports. And it’s not just about athlete performance and big data tracking. What’s the next best thing about attending a football match in Europe when you can’t get there physically? Being there via Augmented Reality (AR) or Virtual Reality (VR). Several teams are currently experimenting with this technology. For example, an NBA game between the Sacramento Kings and the San Antonio Spurs was broadcast in VR. Ask yourself how many fans can attend a Lakers game in AR. Millions?

According to Research and Markets, the global sports market is expected to grow from $354 billion in 2021 to $501 billion in 2022, at a compound annual growth rate (CAGR) of 41.3%. This growth is largely due to the company recovering from the impact of his COVID-19. COVID-19 has previously led to restrictive containment measures including social distancing, remote work, and closure of sports arenas and stadiums. The market is expected to reach $707 billion in 2026, at a CAGR of 9%. That’s amazing annual growth.

Sports marketplaces are categorized into Participatory Sports and Spectator Sports. Let’s look at the fastest growing participatory sports as an opportunity for current and future entrepreneurs to play a role.

esports. The short history of eSports has been an amazing story given the rise in stratospheric popularity over the past decade. Boosted by the COVID-19 pandemic, sports fans were looking for something to fill the void. Esports has made a breakthrough that will help it grow into a billion-dollar-a-year industry. Goldman Sachs expects eSports to have roughly the same viewership as the NFL by 2022.

rugby. The sport is growing exponentially in its fan base, and the 2019 Rugby World Cup (RWC) has fueled this. RWC saw him grow by 18% from 344 million in 2018 to his 405 million in 2019. That’s an amazing growth of over 60 million fans each year. The United States now has a prestigious rugby competition called Major League Rugby, which is expanding rapidly and helping to take the sport to new heights in North America.

pickle ball. The sport has been around for many years, but is rapidly gaining popularity. In February 2022, pickleball was named the fastest growing sport in the country for the second year in a row by the Sports and Fitness Industry Association. Nationwide, Pickleball has 4.8 million players, an increase of nearly 40% from where he was two years ago. There are now an estimated 35,000 courts in the United States, more than double what he was five years ago. Equipment sales, lessons and tournaments will fuel the future growth of this industry.

Stand up paddleboarding. It may come as a shock to many, but Stand Up Paddle Boarding (SUP) is still one of the fastest growing sports in the world. Over the past few years, paddleboarding has skyrocketed in popularity as people around the world are exposed to the sport for the first time. Global Stand Up Paddleboards Market research report estimates the industry to be worth $336 million in 2021, growing at a compound annual growth rate (CAGR) of 8.55% to reach $551.47 million by 2027 indicates that it is expected to reach

drone racing. Pricewaterhouse Coopers predicts that the global drone market will be worth $6.1 billion in 2021, with overall revenue growing at a rate of 22.10% from 2022 to 2029, reaching nearly $3.01 billion in 2029 I predict it will. , this market will continue to grow.

Adventure bike race. Have you been to the Belgian Waffle Ride? It includes Belgian pancakes, but comes at the end of an off-road bicycle race designed by Monuments of Cycling, a startup in the bicycle adventure racing industry. They are at the forefront of the rapidly growing off-road or “gravel race” across the United States and Europe. Equipment, training, social events and coordinated racing are fueling growth, along with a $50,000 top prize package.