The Sports & Recreation market has grown rapidly in recent years, with consumers constantly seeking new hobbies and activities to enjoy, whether that be going to the theater, keeping fit in the gym, or having a relaxing day at a spa.
Many aspects of the industry have adapted to the online world, such as the rise of online betting and the reshaping of art through digitization. On a sporting level, wearable technology gives users access to data about their performance, while the sports fan experience can be enhanced through technology both in the stadium and on screens back home.
The entire industry came under threat from the COVID-19 pandemic, which forced many people to stay indoors for extended periods of time. This not only stopped them from taking part in their favorite hobbies, but it also disrupted the entire professional sports industry. However, the industry seems to have recovered well, with many even discovering new passions and hobbies during the crisis.
The Sports & Recreation industry is very wide-ranging, covering everything from museums to professional sports. The art and culture sector includes cultural events and the performing arts, as well as libraries and museums. Under the umbrella of recreation fall hobbies such as gardening and musical instruments, as well as amusement parks, national parks, and outdoor activities.
The sports side of the industry encompasses the entire professional sports market, including team sports and individual sports worldwide, as well as sports betting and the fan experience. Global sporting events such as the Olympics and the FIFA World Cup are also covered, alongside sports participation among the general public and its engagement with fitness and physical activity.
Finally, the industry includes the wellness and spas market, covering everything from day spas and massage parlors to yoga and meditation.