Data Bridge Market Research analyses that the sports technology market was valued at USD 11.13 billion in 2021 and is further estimated to reach USD 47.00 billion by 2029, and is expected to grow at a CAGR of 19.73% and during the forecast period of 2022 to 2029.
Sports Technology market report consists of the systematic and comprehensive market research study that provides the facts and figures in the field of marketing. The report provides market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, their preferences for particular product and market demand and supply scenarios. For sound decision making and superior management of goods and services, these days businesses are adopting a market research report solution. An excellent Sports Technology report has well interpreted and well categorized market research data that brings marketplace clearly into the focus.
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Sports Technology market research report is mainly delivered to the users in the form of PDF or spreadsheet. However, PPT format can also be offered if the client has specified such requirement. The competitive landscape part of the report provides a clear insight into the market share analysis of key industry players. CAGR values for the market for an estimated forecast period of 2023 to 2029 are mentioned in the report which helps determine costing and investment values or strategies. By combining lot of efforts and leaving no stone unturned, this market report has been prepared. In addition, Sports Technology document also offers top to bottom assessment of the market as far as income and developing business sector is concerned.
Product definition”
The sport technology section is primarily concerned with the creation of novel applications and technologies to aid research and the development of intervention strategies to improve athletic performance. Sports technology and data have become a vital aspect of athletic growth and performance in recent years. Because technology and data play such an important part in improving player development and sporting performances, the income side of sports is also growing.
Outdoor sports such as cricket, football, soccer, and rugby have largely integrated sports technology. In terms of income, games are king in the sports technology business. Furthermore, due to a surge in the usage of sports technology in games such as badminton, chess, and swimming, indoor sports activities are also contributing significantly to the industry. Indoor sports are now adopting sports technology at a slower rate than outdoor sports.
Recent Development
- In February 2021, PUSH, a Toronto-based sports technology firm, teamed with Catapult to assist coaches plan, track, measure, and enhance player performance off the field.
Some of the major players operating global Sports Technology market are
- Fitbit LLC (US)
- IBM (US)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Cisco Systems, Inc. (US)
- FUJITSU (Japan)
- SAP SE (Germany)
- Oracle (US)
- LG Electronics. (South Korea)
- SAMSUNG (South Korea)
- Apple Inc. (US)
- Garmin Ltd. (US)
- SONY INDIA (India)
- Panasonic Corporation (Japan)
- Catapult (Australia)
- NEC Corporation (Japan)
- SHARP CORPORATION (Japan)
- MODERN TIMES GROUP (Sweden)
- Activision Publishing, Inc. (US)
- Tencent Holdings Ltd. (China)
- CJ CHEILJEDANG CORP. (South Korea)
- HCL Technologies Limited (India)
Key Market Segments Covered in Sports Technology Market Industry Research
Technology
- Device
- Smart Stadium
- Esports
- Sports Analytics
On the basis of technology, the sports technology market is segmented into device, smart stadium, Esports, and sports analytics. Devices has been further sub segmented into wearables, digital signage, and camera. Smart stadium has been further sub segmented into software and services. Software has been further sub segmented into stadium and public security, building automation, and event management. Esports has been further sub segmented into tickets and merchandise, sponsorship and advertisement.
Sports
- Soccer
- Baseball
- Basketball
- Ice Hockey
- American Football/Rugby
- Tennis
- Cricket
- Golf
- Esports
- Others
On the basis of sports, the sports technology market is segmented into soccer, baseball, basketball, ice hockey, American football/rugby, tennis, cricket, golf, and esports, and others.
Sports Technology Market Regional Analysis/Insights
The sports technology market is analysed and market size insights and trends are provided by country, sports and technology as referenced above.
The countries covered in the sports technology market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the sports technology market due to the occurrence of several software companies. Furthermore, the advanced culture of league sports and increase in the technology industry will further boost the growth of the sports technology market in the region during the forecast period.
Europe is projected to observe significant amount of growth in the sports technology market during th e forecast period of 2022 to 2029 due to rise in the adoption of wearable performance tracking devices. Moreover, the growing demand smart camera technologies is further anticipated to propel the growth of the sports technology market in the region in the coming years.
Browse Detailed Summary of Research Report @ https://www.databridgemarketresearch.com/reports/global-sports-technology-market
Drivers
Major factors that are expected to boost the growth of the sports technology market in the forecast period are as follows:
Drivers:
- Rise in the adoption of emerging technologies
The market is likely to be driven by the increasing adoption of emerging technologies such as the internet of things (IoT) and data analytics, as well as social media integration, across numerous sports will further accelerate the growth of the sports technology market.
- Growing adoption of esports technology
Soccer has had a higher rate of adoption of sports technologies than tennis, golf, and other sports is further anticipated to propel the growth of the sports technology market.
- Growing investments by various organizations
Due to increased investments by numerous organisations in adopting the latest technologies for tracking players' performance and engaging fans, among other activities, the business is undergoing a paradigm shift which will further contribute to the market growth.
Opportunities
In addition, the arrival of AI and ML technologies is further estimated to provide potential opportunities for the growth of the sports technology market in the coming years.
Restraints/Challenges
On the other hand, the rise in the initial investments and budget constraints is further projected to impede the growth of the sports technology market in the targeted period. However, the dearth of professionals with analytical skills might further challenge the growth of the sports technology market in the near future.
How does this Sports Technology Market Insights Help?
- Global Sports Technology Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR
- The Key parameters which are driving this market and restraining its growth
- What all challenges manufacturers will face as well as new opportunities and threats faced by them
- To learn about the market strategies that are being adopted by your competitors and leading organizations
- To Increase insightful analyses of the market and have a comprehensive understanding of the “Sports Technology Market” and its commercial landscape
TABLE OF CONTENTS
- Part 01: Executive Summary
- Part 02: Scope of The Report
- Part 03: Research Methodology
- Part 04: Market Landscape
- Part 05: Pipeline Analysis
- Part 06: Market Sizing
- Part 07: Five Forces Analysis
- Part 08: Market Segmentation
- Part 09: Customer Landscape
- Part 10: Regional Landscape
- Part 11: Decision Framework
- Part 12: Drivers and Challenges
- Part 13: Market Trends
- Part 14: Vendor Landscape
- Part 15: Vendor Analysis
- Part 16: Appendix
For Detailed TOC | Follow @ https://www.databridgemarketresearch.com/toc/?dbmr=global-sports-technology-market
Queries Resolved In This Report:
- Which will be the specialties at which Sports Technology Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set nearness?
- Which will be the foreseen development rates for your own Sports Technology economy out and out and furthermore for each portion inside?
- Which will be the Sports Technology application and sorts and estimate joined intently by makers?
- Which will be the dangers which will attack growth?
- The length of the global Sports Technology market opportunity?
- How Sports Technology Market share advance vacillations their value from various assembling brands?
WHO SHOULD BUY THE GLOBAL SPORTS TECHNOLOGY REPORT?
People looking to enrich the decision-making capability by following points must buy the report:
- Breakdown of market share of the top Sports Technology industry players
- Evaluations of market share for the regional and country level sectors
- Estimation of Sports Technology market for the forecast period of all the aforementioned classes, sub classes, and the domestic markets
- Tactical recommendation for the newbies
- Tactical recommendation in primary business industries based on the Sports Technology market forecast
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