The Next Big Thing You’ve Likely Never Thought Of ..
Today,
sports management and it’s related industry is still in a nascent stage in India. This at a time, when more and more companies are seeing tremendous value in their brands being promoted through sports. What do the numbers say?
First, take a look at the statistics-
- According to a KPMG report, the sports management industry is worth around $620 bn globally.
- The Indian Sports Market is worth $1.9 bn, which is less than 1% of the global market, according to data by KPMG and website statista.com.
- The Indian Sports Goods Industry alone, which exports more than 60% of it’s annual production to mostly western countries, primarily the UK, employs more than half a million people.
- According to the Indian Brand Equity Foundation, The total exports for sports goods alone, a fraction of the entire sports management market, stood at $183.25 mn, and is growing at 17.2% annually- to put things in perspective, the Indian IT industry grew by 13% within that period.
Now consider that
India is one of the most populous countries in the world. Recent media trends and successes in this field have been pathbreaking and one can very well understand how many six-figure careers this business could launch in a few years’ time.
One glance at the above numbers should be enough to convince you that Sports is the next big career in India, and is set to grow exponentially over the next few years. Corporate Funding in Sportspersons and sporting events is also set to grow as more and more corporate houses tap the potential of branding and advertising in sporting events in India.
Still, how many budding MBA graduates and aspiring managers are thinking of Sports Management as a career choice today? A handful, at the most. How accurate are their views?
Lack of Corporate Involvement? Think Again!
The CII, India’s biggest industry association, announced it’s the goal at the India@75 campaign that they would aim to support the Government of India’s goal of winning 20 gold medals at the 2020 Olympics. This is significant as it indicates a major fund flow into the sector that until the last few years, had mostly seen only a non-profit involvement.
Specialization? Take Your Pick!
Outside Athletes, the sports industry has several employment options for specialized professionals. These include coaches, trainers, event managers, public relations officers, Coordinator of Sports Associations and Organizations, Marketing Consultants and even professional sports promoters and sponsorship specialists. Here are a few numbers from the National Skill Development Corporation- India will require the following non-performing sports professionals by 2022:
Sports Coaches – 3,64,745
Physical Education Teachers - 9, 76, 938
Fitness Trainers – 3, 63, 605
Player Development Professionals like physiotherapists, coaches, etc. – 3, 66, 533
Match Conducting Professionals like Scorers, Commentators, Referees, etc. – 78, 291 per skill.
Needless to say, the employment potential of the sports management industry is tremendous and is only set to grow in multiples over the next few years, as the importance of sports entertainment grows.
Talentedge, India’s leading ed-tech company, has partnered with IISM, India’s most renowned sports management institution to offer the executive programme in Sports Management. With best-in-class curriculum and leading figures from the sports industry in India, this is the definitive certificate program for any aspiring professional looking to make a mark in this rapidly growing industry.
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