Portland, OR -- (SBWIRE) -- 06/20/2018 -- The popularity of sports is accelerating at a rapid pace, as sports inspires, engages, immerses, and evokes emotions in individuals. In addition, high focus on fan engagement & marketing through social media & other promotional platforms, increased penetration of internet & digital audience, and growth in female viewership is propelling the sports industry and its supplementary industries including sports graphics market.
The U.S. & India Sports Graphics Market was valued at $2,820 million in 2016, and is projected to reach $4,268 million by 2023, according to the latest report published by Allied Market Research. The U.S. sports graphics market size was valued at $2,149 million in 2016 and is projected to reach $2,656 million by 2023 at a CAGR of 3.1% from 2017 to 2023; however, the India sports graphics market size accounted for $671 million in 2016 and is anticipated to reach at $1,612 million by 2023, registering a CAGR of 13.1%.
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Surge in popularity of sports, increase in disposable income, changes in lifestyle, rapid urbanization, and focus on fitness & healthy life style fuel the growth of the sports graphics market. In addition, proactiveness of government to promote sports and contribution of the private sectors, such as clubs and franchisees, in organizing numerous tournaments have significantly led to development of the sports industry, offering notably lucrative opportunity to its supplementary industries. Moreover, technological advancements have significantly influenced fans to adopt athleisure fashion trends.
The Indian business environment has witnessed a dynamic change with 360 degree developments initiated by the government, private sector, and the non-profit entities. Significant growth in spectator of sports other than cricket has been reported in the recent times. In addition, increase in sponsorship, and broadcast and participation in sports significantly supports the rise in demand for sports graphics in India.
The screen printing market in the U.S. generated the maximum revenue in 2016. Screen printing employees a cylindrical screen that rotates from a fixed position to print designs onto the fabric. The demand for screen printing has significantly decreased with course of time. However, development of smart fabrics that has significant demand as sport & fitness wear is projected to foster the growth of the screen printing market in the U.S.
Key Findings of the U.S. & India Sports Graphics Market:
- In 2016, screen printing accounted for the maximum market revenue in the U.S. sports graphics market, and is projected to grow at a CAGR of 2.7 % during the forecast period.
- Promotional products in the U.S. sports graphics market is expected to grow at the highest CAGR of 3.4%.
- Sports apparel & accessories in the U.S. market accounted for around 65% of market share in 2016, and is expected to dominate the market by 2023.
- Digital printing segment in India sports graphics market is expected to grow at the highest CAGR of 14.3%.
- Sports apparel & accessories in the Indian sports graphics market accounted for around 70% share in 2016, and is expected to dominate the market by 2023.
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Key Players:
The key players in U.S. sports graphics industry focus to expand their business operations in the emerging countries by adopting various strategies, such as acquisition and contact/agreement. The major players profiled in this report include Dynamite Graphics, Sports Graphics Inc. and Total Sports Graphics. Other key players (not profiled in this report) operating in this market include Prairie Graphics Sportswear, Arena Sports & Graphics, CMYK Grafix Inc., Signal Graphics, T10sports.com, Graphic Source, Quality Graphics, Inc., Rappahannock Sport & Graphics, and VizCom Sport Graphics.