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The size of the global sports technology market is anticipated to reach USD 76.40 billion by 2030, growing at a CAGR of 15.27% from 2023 to 2030.
The practise of sports has changed over time, and one area that has significantly impacted many sports in the twenty-first century is the use of technology equipment. Sports technology can be used for a variety of practical objectives, such as keeping score, reducing injuries, increasing spectator engagement, evaluating the accuracy of plays and goals, and many others. Wearable technology, sensors, instant replay, sensor tools, timing systems, and other innovations are just a few examples of how technology and sports are revolutionising the game. Wearable technology has among these altered how sports are judged. There are many different forms of wearable electronics used in sports including football, cricket, and others. Professional athletes and novice fitness enthusiasts alike frequently wear Fitbit smartwatches because they can monitor their heart rate, pulse, and track their steps and distance for a range of activities.
High-end fitness equipment can now track steps, measure heart rates, and even relay ECG results through Bluetooth thanks to advancements in sports science technology. To keep up with the escalating trend and consumer demand, manufacturers are continually pushing the product's development. The commercial sports sector has seen a rise in gross revenues as player development and athletic performance have become increasingly reliant on technology and data. A player or team could employ contemporary technology and sports performance statistics to gain a cutting-edge competitive advantage, and sports professionals are constantly looking for novel opportunities to do so.
Driving Factors
The growing need to improve player and team efficiency, the acceptance of esports technology, and the increased focus on aesthetically attractive and entertaining stadium spectators are all contributing factors to the growth of the sports technology industry. In order to provide an unrivalled game-viewing experience in stadiums and on electronic devices, sporting event organisers have also made investments in digital technologies. In order to enhance audience involvement at stadiums, the venue owners are installing and equipping a variety of technologies, including high-density Wi-Fi, GPS-based services, digital vending machines, 360-degree ultra-high definition (UHD) cameras, and digital signs.
Restraining Factors
Higher utilisation and widespread use of sports technology are only economically feasible for the most illustrious teams with more financial resources due to the high cost of early investments and service provider agreements. The initial costs required to execute a major section of the market are difficult for many unorganised or smaller teams and organisations to afford. Furthermore, the future growth of the sports technology business is being hampered by the difficulty of replacing and upgrading existing technologies. Furthermore, these systems are unable to be integrated with next-generation smart devices due to protocol issues.
Report Coverage
Global Sports Technology research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Sports Technology report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Sports Technology competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Sports Technology market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Sports Technology market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Sports Technology market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Fujitsu, SAS Institute, SAP, IBM, Ericsson, Cisco Systems, Inc., Oracle, Samsung Electronics, Fitbit, Apple Inc., Garmin Ltd., NEC Corp., Sharp Corp., Activision Blizzard, Tencent Holdings Ltd., HCL Technologies Ltd., ChyronHego Corporation, Panasonic Corp., Modern Times Group, Xiaomi Corp., Sony Group Corp., Catapult, and among others.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Sports Technology market based on the below-mentioned segments:
Global Sports Technology Market, By Sports
Global Sports Technology market, By Technology
Global Sports Technology market, Regional Analysis
The practise of sports has changed over time, and one area that has significantly impacted many sports in the twenty-first century is the use of technology equipment. Sports technology can be used for a variety of practical objectives, such as keeping score, reducing injuries, increasing spectator engagement, evaluating the accuracy of plays and goals, and many others. Wearable technology, sensors, instant replay, sensor tools, timing systems, and other innovations are just a few examples of how technology and sports are revolutionising the game. Wearable technology has among these altered how sports are judged. There are many different forms of wearable electronics used in sports including football, cricket, and others. Professional athletes and novice fitness enthusiasts alike frequently wear Fitbit smartwatches because they can monitor their heart rate, pulse, and track their steps and distance for a range of activities.
High-end fitness equipment can now track steps, measure heart rates, and even relay ECG results through Bluetooth thanks to advancements in sports science technology. To keep up with the escalating trend and consumer demand, manufacturers are continually pushing the product's development. The commercial sports sector has seen a rise in gross revenues as player development and athletic performance have become increasingly reliant on technology and data. A player or team could employ contemporary technology and sports performance statistics to gain a cutting-edge competitive advantage, and sports professionals are constantly looking for novel opportunities to do so.
Driving Factors
The growing need to improve player and team efficiency, the acceptance of esports technology, and the increased focus on aesthetically attractive and entertaining stadium spectators are all contributing factors to the growth of the sports technology industry. In order to provide an unrivalled game-viewing experience in stadiums and on electronic devices, sporting event organisers have also made investments in digital technologies. In order to enhance audience involvement at stadiums, the venue owners are installing and equipping a variety of technologies, including high-density Wi-Fi, GPS-based services, digital vending machines, 360-degree ultra-high definition (UHD) cameras, and digital signs.
Restraining Factors
Higher utilisation and widespread use of sports technology are only economically feasible for the most illustrious teams with more financial resources due to the high cost of early investments and service provider agreements. The initial costs required to execute a major section of the market are difficult for many unorganised or smaller teams and organisations to afford. Furthermore, the future growth of the sports technology business is being hampered by the difficulty of replacing and upgrading existing technologies. Furthermore, these systems are unable to be integrated with next-generation smart devices due to protocol issues.
Report Coverage
Global Sports Technology research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Sports Technology report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Sports Technology competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Sports Technology market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Fujitsu, SAS Institute, SAP, IBM, Ericsson, Cisco Systems, Inc., Oracle, Samsung Electronics, Fitbit, Apple Inc., Garmin Ltd., NEC Corp., Sharp Corp., Activision Blizzard, Tencent Holdings Ltd., HCL Technologies Ltd., ChyronHego Corporation, Panasonic Corp., Modern Times Group, Xiaomi Corp., Sony Group Corp., Catapult, and among others. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Sports Technology Market from 2021 to 2030.
- Market Forecast for Sports Technology Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Sports Technology competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Sports Technology
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Sports Technology market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Sports Technology market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Fujitsu, SAS Institute, SAP, IBM, Ericsson, Cisco Systems, Inc., Oracle, Samsung Electronics, Fitbit, Apple Inc., Garmin Ltd., NEC Corp., Sharp Corp., Activision Blizzard, Tencent Holdings Ltd., HCL Technologies Ltd., ChyronHego Corporation, Panasonic Corp., Modern Times Group, Xiaomi Corp., Sony Group Corp., Catapult, and among others.
Primary Target Market
- Market Players of Sports Technology
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Sports Technology market based on the below-mentioned segments:
Global Sports Technology Market, By Sports
- Cricket
- Esports
- Golf
- Baseball
- Basketball
- Others
Global Sports Technology market, By Technology
- Devices
- Sports Analytics
- Esports
- Smart Stadiums
- Others
Global Sports Technology market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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