Global auditing and consulting firm PwC has released its latest survey results at the third China International Import Expo.
According to PwC’s Sports Survey 2020, the global sports industry is expected to slow annual growth to 3.3% in the next 3-5 years in light of the COVID-19 pandemic.
PwC predicts that the industry will grow in Asia by around 7.3%, while sports betting is projected to become the major driver of revenue increase for the global sports industry.
As the pandemic has significantly accelerated the development of virtual entertainment, sectors like simulated sports and e-sports have seen golden opportunities. There is also a rising trend in motorsports worldwide.
It is estimated that mobile games will become a key part of future games and e-sports strategies. Therefore, in-depth cooperation between mobile game developers and sports organisations may lead to new business models.
The survey is based upon the views of 780 industry professionals from over 50 countries and regions between June and August this year.