Global revenues from women's sports will top $1 billion for the first time in 2024 thanks to an explosion in popularity, according to financial experts Deloitte.

Fresh from a highly successful 2023 World Cup in Australia and New Zealand, soccer's revenue is expected to reach $555 million out of a total predicted figure of $1.28 billion in 2024.

But more than 50 percent of total revenue for women's sports is still generated in North America despite the growth of women's soccer in Europe.

Deloitte expects valuations for teams and leagues will continue to rise, with several team values predicted to exceed $100 million next year.

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"Over the last few years, we have seen exceptional growth in women's sport across the globe, driving a significant uplift in its commercial value, which in turn has led to growing interest from investors," said Jennifer Haskel, insights lead for Deloitte's Sports Business Group.

"Crucially, women's sport is increasingly being viewed as a unique product that is becoming ever more distinct from men's elite sport.

"This surge in fan and investor engagement is leading to new and improved opportunities for clubs and leagues, including greater commercial partnerships, increased participation, and bigger match days."

The booming popularity of women's sports is expected to lead to more prime-time broadcasting slots and visibility on streaming platforms.

Commercial income still accounts for more than 50 percent of total revenue, but that percentage share is falling thanks to bigger broadcast deals and attendances on match days.