According to the report published by IndustryARC titled “Motorsports Market: by Channels (Broadcasting Revenue in Motorsports Market, Ticketing Revenue in Motorsports Market); by Racing Series (F1, NASCAR, Indycar, Formula E, WEC and others) by Revenue Type(Series Organization, Team, Component) Geographic Analysis – Forecast (2019 – 2025),”the market is estimated to surpass $30 billion by 2025 growing at a CAGR of around 3% .
Browse 52 Market Tables and 21 Figures spread through 138 Pages and go through an in-depth TOC on “Motorsports Market”
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According to a recent study from IndustryARC, the growth in the Motorsports market can be attributed to the increase in the advertisement deal size and sponsorships of motorsport races. Social media platforms such as Facebook and Twitter have emerged as widespread platforms to promote the motorsports and gain the attraction of more viewers and upsurge the market growth. Besides, social media platforms such as facebook and twitter along with broadcasting have contributed majorly in increasing the demand for motorsports globally.
With the introduction of a new format called Formula E series that deploy electric vehicles in racing events, motorsports have gained more number of viewers consequently elevating the market growth. The hike in demand for electric auto racing series Formula E has boosted the market growth. Recently, Audi has announced the launch of an in-house formula E team. The Formula E cars are emission-less and produce little sound, consequently increasing their demand in cities such as Paris, Buenos Aires, and Berlin. In most of the countries such as U.S., motorsports are amongst the most popular sports and have a wide coverage among people in terms of communication through social media and other platforms. Besides, the increasing corporate sponsorships from companies and organizations have emerged as a major driving factor for the motorsports.
Europe is the largest motorsports market globally with a revenue of $5.61 billion in 2019. Most of the major automobile manufacturers have a dominant presence in the European countries and are supported by large sponsorships consequently resulting in a huge fan base for motorsports in this region. In the Americas, countries such as the U.S., and Argentina have widespread popularity for motorsports and these countries have hosted some of the most significant Formula series seasons as well. Additionally, various racing events such as NASCAR fascinate more viewers by organizing more promotional events and advertisements to draw the attention of viewers.
The Major Players in this Market include
- Ferrar S.p.A.i
- Audi AG
- BMW AG
- Ford Motor Company
- McLaren Group
- Porsche AG
Motorsports vehicles’ manufacturers have utilized advertisements to augment their entry into related markets. Moreover, corporate sponsorships by companies and widespread popularity of motorsports have emerged as a major driving factor for Motor Sports market.
The end-user race industries covered in the Motor Sports Market report include:
- Formula 1
- World Rally Championship
- FIA World Endurance Championship
- Speedway Series
The overall Motor Sports Market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the race types is highlighted and market players are profiled.
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