U.S. & India Sports Graphics Market Overview:
The U.S. Sports Graphics Market size is expected to reach $2,656 million by 2023, registering a CAGR of 3.1% from 2017 to 2023. However, the India sports graphics market is expected to account for $1,612 million by 2023, registering a CAGR of 13.1%. Sports graphics market includes various services, namely, designing and printing of varied types of sports apparels such as vests, shorts, caps, hats, jerseys, and others.
Based on application, sports apparels and accessories generated the maximum revenue in the U.S. sports graphics market. However, promotional products are likely to grow at the fastest rate during the forecast period. The event organizers or the hosting organization in the U.S. primarily order their merchandise through promotional merchandise distributor companies, also known as promotional consultants or promotional product distributors. The most influential promotional products in the U.S. include, USB drives, outerwear, drinkware, writing instruments, and performance wear.
The popularity of sports across both the countries has driven the sports graphics market. In addition, rising disposable income, rapid changes in lifestyle, growing urbanization, and focus of individuals towards fitness & healthy life propel the market growth. In addition, novel technological advancements have shifted inclination of fans towards athleisure fashion trends, thereby creating lucrative opportunities for manufacturers in the U.S. and India to offer trendy sports apparels and accessories.
The U.S. & India sports graphics market is segmented on the basis of service, application, and country. Based on service, it is divided into digital printing, screen printing embroidery, and others. Based on application, the market is classified into promotional products and sports, apparels, and accessories. The promotional products segment is expected to grow at the fastest rate in the Indian sports graphics market, attributed to increase in competition among the business organizations. India has a population of more than 1.3 million; this vast population base thus offers a lucrative opportunity for enterprises across several industries to gain high market share.
Digital printing services in the Indian sports graphics market is projected to grow at the fastest growth rate, accounting for 14.3% by 2023. Rapid population growth and increase in disposable income of the medium- and high-income consumers in urban areas have led to high requirement of various consumer goods. In addition, diminishing dying and printing technicians in factories has increased the adaptation rate of digital printing machines in India. Moreover, advantages such as low turnaround time, high flexibility, and creativity further support the growth of the digital printing market. In addition, digital printing is an eco-friendly process compared to its traditional counterpart. It optimizes ink/dye consumption by 20-40%, water usage by 40-60%, and energy consumption by 50%.
However, other services, namely, 3D services and web design are anticipated to grow at a notable growth rate in the Indian sports graphics market. The population growth globally is attributed to increase in urbanization. Rapid urbanization and e-literacy among the general public in India have resulted into increase in adaptation of mobiles, computers, and other networking devices. In addition, easy market entry opportunities and requirement of small market investment have increased the penetration rate of new entrants. Small- and medium-sized businesses (SMBs) intensively rely on web-enabled services and web-based apps as a tool to promote and operate their business. Moreover, continuous growth of e-commerce and m-commerce sites such as Amazon.com, Inc. and Flipkart Online Services Pvt. Ltd. is projected to foster the growth of the online & digital services in the India, thereby impacting the sports graphics market well.
Major companies profiled in the 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.
Key Benefits for Stakeholders
- This report provides an in-depth analysis of the o identify the potential investment pockets.
- It outlines the current trends and future scenarios to determine the market potential and gain stronger market foothold.
- Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
- Quantitative analysis of the U.S. & India sports graphics industry from 2015 to 2023 is highlighted to recognize the financial competency of the market.
- Porters Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
U.S. & India Sports Graphics Market Key Segments:
- Digital Printing
- Screen Printing
- Others (3D Services, Web Design, and Others)
- Promotional Products
- Sports Apparel & Accessories