The 2019 study has 296 pages, 130 tables and figures.Worldwide $24.9 billion youth sports markets are poised to achieve significant growth as travel teams become more popular and families learn to enjoy time together during a weekend sporting event.Enormous market efficiency is being achieved as youth and recreational teams move to automated process.Apps can be used to book hotels and make travel arrangements.
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A $19.2 billion market in the US, means the youth sports market rivals the size of the $15 billion NFL.Youth sports markets are comprised of segments that represent revenue generation from travel, equipment, team membership, facility construction, software, and venue rental.Leagues who purchase and distribute sports software to teams or clubs have created a large market from what were previously disparate parts of what was not ever not even a market, just people buying clothes and equipment, and loosely organized groups of youth playing games on community fields.
As a result of this coalescence of the varying market segments the youth sports market has become well defined.Apps are used for communication.The primary purpose of youth sports team sports is to deliver fun for the youth.Other agendas get mixed in, like building a strong and healthy body, developing a well-rounded and pleasant personality, developing team skills, and preparing a child to be a professional athlete.Youth sports depend on communication, tournament play, and video coaching that are needed to run a team effectively.Transaction management, registration, and fee collection are key aspects of some of the software.
Youth sports facilities can become part of a community development program.Every team, every sport has appeal and as there is more leisure, as the economy spins out more and more wealth at the top of the economic scale, there will be more spending on sports.Professional sports, betting, fantasy teams, semiprofessional teams, and teams just for fun will continue to look for venues and players.
According to Susan Eustis, leader of the market research team that prepared the study for WinterGreen Research, “Vendors are making acquisitions to upgrade software so it is able to provide a wide range of capabilities.Modules brought in from different companies and developers are being integrated into a functioning platform.Once a platform is in place, the organization of travel teams is facilitated.”
Market growth comes from increased benefits of organization in youth sports leagues.Travel teams and tournaments are in vogue.This is a nascent market, there is no end to growth in sight.Markets are expected to reach $77.6 billion by 2026.Youth sports teams will continue to get more organized and depend on software to provide increased management efficiency.Video images of play will provide better coaching.
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- Ameri Sports / Wilson
- InterContinental Hotels Group
- Sports Facilities Advisory
- Stack Sports
- NBC Sports / SportsEngine
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Published by Vishal
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This post was originally published on Food and Beverage Herald