Albany, NY -- (SBWIRE) -- 12/12/2016 -- The key players dominant in the global licensed sports merchandise market are VF Corporation, Nike Inc., Adidas - Reebok, G-III Apparel, Jarden Corporation, Under Armour, Dick's Sporting Goods, and Knight Apparels, as per Transparency Market Research (TMR). These players are expanding their market through partnership agreements with other companies, new product introductions, and acquisitions.

On the basis of revenue, the market for licensed sports merchandize stood at US$27.63 bn in 2015 and is predicted to touch US$48.17 bn, expanding at a 6.40% CAGR between 2016 and 2024. On the basis of product, the segment of sports apparel emerged as the market leader in 2015 and held a share of 39%, in terms of revenue. On the other hand, the segment of video games or software is predicted to be most swiftly developing segment and will expand at a 7.70% CAGR from 2016 to 2024. This is the most attractive segment and is predicted to hold a share of 11.3% in 2015, while the segment of sports footwear is predicted to trail the segment of video games or software.

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Offline Stores Held a Leading Role in Distribution of Licensed Sports Merchandise in 2015

On the basis of distribution, the segment of offline stores led the market in 2015 and constituted a share of 71.1% in the market, in terms of revenue. Offline stores include departmental stores, specialty stores, and others. On the other hand, the segment of online stores or e-commerce is predicted to emerge as a key opportunity area in the market for licensed sports merchandise market and will expand at the fastest CAGR of 8.70% between 2016 and 2024.

In terms of geography, the North America licensed sports merchandize market led the market in 2015 with a share of 54.4% and was trailed by the region of Europe, constituting a share of 30.1% in the same year. The growing demand for licensed multimedia products from sports lovers is also poised to fuel the development of this market in North America. In addition, the introduction of cutting-edge products within sophisticated digital technology and designs will also raise the demand for sports gadgets and goods in North America. In North America, the U.S. licensed sports merchandise market has been rising at a moderate rate owing to the increasing TV deals or partnerships of key professional leagues and the growing popularity of leagues.

Rising Retail Sales Globally to Boost Licensed Sports Merchandise Market

The global licensed sports merchandise market is fuelled by the growing popularity of sporting leagues as well as their growing fan bases. In addition, the growing retail sales will also fuel the development of the market. Retailers such as convenience stores, departmental stores, discount stores, and specialty stores have emerged as the top channels of distribution. "The growth in the retail sector is also fuelled by the rising capital investment in numerous nations," says a TMR analyst. In addition, the rising role of e-commerce within the market for sports goods will also bolster the development. The swift rise in the count of internet connections and the increasing adoption of e-commerce as a viable and safe substitute to the conventionally utilized bricks and mortar retailing has also fuelled the market for licensed sports merchandise, states a TMR analyst.

On the other hand, the increasing rate of piracy may come as a road block in the development of the global licensed sports merchandise market. Nonetheless, the increasing product changes and the technological developments taking place in the market have emerged as key opportunity areas in this market.

This information is based on the findings of a report published by Transparency Market Research titled, "Licensed Sports Merchandise Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."