The global sports industry is a conglomeration of several complementary markets, which when combined together have the potential to directly affect the global economy. The industry consists of several submarkets, including sporting goods,
, and sports betting. In 2023, the revenue of the
amounted to more than 160 billion U.S. dollars, whereas the
was valued at close to 28 billion U.S. dollars in 2022. Gambling and gaming are also key parts of the global sports market, with the
calculated to be 242 billion U.S. dollars as of 2023. Meanwhile, recent technological changes and advances in the video game market have provided new platforms for players to compete at the highest level, resulting in a lucrative
What are the biggest sporting brands worldwide?
In addition to skill and hard work, excellent sporting equipment is a must-have for those aspiring to reach the top of their game. When considering any type of equipment, consumers’ purchasing behavior can be influenced by the strength of a company’s brand. In 2022, the
most powerful sportswear brands worldwide were identified to be Nike, Adidas, and New Balance, in that order. As of 2024,
Nike’s brand value was estimated to be worth just under 30 billion U.S. dollars, and although this followed a downward trend which began in 2022, the sportswear company still outperformed its biggest competitor, Adidas, which had a
brand value of about 15 billion U.S. dollars in 2023.
What are the biggest sports worldwide?
Professional sports are followed by millions around the world, providing a large audience for advertising and marketing opportunities. The biggest sporting competitions in the United States are the
NFL (National Football League), the NBA (National Basketball Association), the NHL (National Hockey League,) and MLB (Major League Baseball). The NFL includes the team with the
highest franchise value of any sports team worldwide at nine billion U.S. dollars - the Dallas Cowboys.
Elsewhere, one sport dominates the professional sports market: soccer. The Premier League is the biggest soccer league in the world, attracting many international sponsors and fans. Understandably, an English team, Manchester City, had the
highest brand value out of European soccer clubs as of 2023. Moving away from team sports, individual sports also have the potential to make millionaires out of the biggest superstars thanks to big payouts and lucrative sponsorship deals. Professional boxer Canelo Álvarez was also among the
highest paid athletes worldwide in 2022/23, with tennis icon Roger Federer also making the list despite retiring from the sport professionally in 2022.
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