Sports Technology Market was valued at US$ 11.7 Bn. in 2020 and is expected to reach US$ 34.5 Bn. by 2027, at a CAGR of 16.7% during a forecast period. Sports Technology Market Overview: Sports Technology Market was valued at US$ 11.7 Bn. in 2020. The growing usage of emerging technologies like as data analytics, artificial intelligence (AI), and machine learning (ML) across a variety of sporting leagues and events is expected to boost the sports technology market over the study period. Team management places a premium on audience engagement, which, together with the digital transformation of sports venues, is expected to increase demand for technology-driven sports decision-making. The industry is witnessing a transformation as a result of increased investments by a variety of companies in adopting cutting-edge technologies to track players' health and stats performance while entertaining spectators. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report. Impact of COVID-19 on sports technology market: The COVID-19's impacts are still reverberating through the world's health, educational, financial, and commercial sectors, and the sports environment is no exception. Due to the outbreak and spread of the virus, nonstop sporting activities around the world came to a halt. The completion of domestic leagues has been postponed due to Euro2020. The majority of national and international sports leagues and events have been postponed, with the exception of the French and Dutch leagues, which have been cancelled. Every stage of the sports value chain, from athletes to teams, has been impacted. Different leagues and sports employed various techniques to increase fan engagement. Fans' viewing experience and engagement were improved as a result of an increase in live updates, social media updates, new camera angles, and the use of VR headsets.
Sports Technology Market Dynamics:Growing need for data-driven decision-making: Since the introduction of Artificial Intelligence (AI) and Machine Learning, data-driven decision-making has been used in the corporate world for a few years (ML). It has also given rise to a centralized structure for companies to use correct data to promote collective decision-making, encouraging sporting teams and management all over the world to adopt innovative technologies. The rapid adoption of data-based decision-making models, on the other hand, has resulted in a huge rise in data generation during every sporting event. For an in-depth understanding of player metrics, health, and performance during the league/tournament, massive amounts of data must be computed, processed, and evaluated. Wearable device adoption delivers these stats to the team management for improved analysis, allowing for the development of a team plan. As a result of the growing acceptance of developing technologies as a result of digitalization, there is a significant need for sports technology. Integration with Artificial Intelligence (AI): Complex tasks can be completed with precision and convenience using artificial intelligence (AI) combined with sports technology. AI is being used in a variety of industries, including banking and finance, manufacturing, and healthcare. The effective integration of new technology has prompted solution providers to incorporate AI modules into their systems to meet the growing need for sports technology. Over the course of the review period, the need for integrating AI and wearable technology into live tracking games and player performances is expected to grow. High Initial Investment and Budget Constraints: Given the initial investments and service provider contracts that can be costly, increased acceptance and widespread usage of sports technology is only commercially possible for the more notable teams with larger budgets. A major portion of the unorganized or smaller leagues and federations cannot afford the initial investments required, excluding a large portion of the market from adoption. Furthermore, the skill pool of data analysts and service providers is predominantly focused in North America and Europe, whereas league club owners in Asia-Pacific and other locations are having difficulty putting together efficient management teams.
Sports Technology Market segment analysis:Based on technology, Smart Stadium segment held largest market share of xx% in 2020. Smart stadium technology can assist improve the audience experience, increase revenue, and improve stadium security. Several sensors, cameras, and digital signage are used to provide real-time information about parking spaces, ticketing queues, and food concessions, among other things. Adoption of IoT-based innovation solutions can aid stadium design by providing interactive seats, secure wireless connections, and high-definition television screens for live games. Based on sport, the Soccer segment held largest market share of xxx% in 2020. In March 2018, FIFA granted team analysts the ability to share real-time player performance data with coaches during live matches. The Video Assistant Referee (VAR) was initially utilized to assist on-field officials in making judgments at the 2018 FIFA World Cup. Technology can be utilized in soccer to acquire meaningful data into a player's fitness and make informed judgments. At the same time, digitalization allows supporters to communicate with football clubs much beyond the 90-minute game. As a result, despite its delayed start, technological usage in soccer has been gaining ground in recent years. From 2021 to 2027, the basketball segment is expected to grow at the highest rate, with a CAGR of nearly 18.0%. Due to the adoption of data analytics, mobile apps, wearables, and heart rate sensors, the National Basketball Association (NBA) has experienced various benefits. In 2020, all 30 NBA clubs will have their own analytical department to boost training sessions and game-day performance. For audience involvement, the association is embracing cutting-edge technology such as Virtual Reality (VR) and Augmented Reality (AR).
Sports Technology Market Regional Insight:Europe region held largest share of xx% in 2020. Several football leagues exist in Europe, and the majority of these leagues have implemented technology in various forms. Several tier-2 and tier-3 football clubs can also be found throughout Europe. In Europe, smart stadium technology is gaining a lot of attention. The regional market is projected to be driven by the strict public safety standards enforced by governing organizations to safeguard the safety of spectators and stadiums. Due to several partnerships and collaborations taking place in the sector, esports is also gaining popularity in this region. From 2021 to 2027, Asia Pacific is expected to be the fastest-growing regional market. China lead the APAC regional market in 2020, owing to a large number of market participants. Japan is expected to make a big contribution to the region's prosperity as the host of the Tokyo 2020 Olympic Games. Due to the growing popularity of sports and, as a result, the growing number of sports leagues, India has achieved major gains in sports technology in recent years. Other countries, including as Australia and Singapore, are refurbishing existing stadiums and building new ones that will promote market growth by incorporating smart technologies. Recent Developments: • In March 2021, SAP teamed up with Jan Frodeno, an Olympic gold medalist in triathlon and an Ironman World Champion. As a result of the partnership, SAP is now Frodeno's official data and analytics provider. • Catapult teamed with PUSH, a Toronto-based sports technology firm that assists coaches in planning, tracking, assessing, and improving athlete performance off the field, in February 2021. • Garmin International announced new additions to its famous Approach series of GPS golf equipment in March 2021: the Approach S42 smartwatch, the Approach S12 watch, and the Approach G12 GPS rangefinder, all of which come preloaded with over 42,000 courses. The objective of the report is to present a comprehensive analysis of the Sports Technology market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Sports Technology market dynamics, structure by analyzing the market segments and projects the Sports Technology market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Sports Technology market make the report investor’s guide.
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Sports Technology Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Sports Technology Market Key Players• IBM • Ericsson • Cisco • Fujitsu • SAP SE • Oracle • NEC • LG • Sharp • Samsung • Fitbit • Apple • Garmin • Sony • ARRI • Panasonic Corporation • Modern Times Group • Activision Blizzard • Valve Corporation • Tencent • CJ Corporation Frequently Asked Questions: 1. Which region has the largest share in Sports Technology Market? Ans: Europe region holds the highest share in 2020. 2. What is the growth rate of Sports Technology Market? Ans: The Sports Technology Market is growing at a CAGR of 16.7 % during forecasting period 2021-2027. 3. What segments are covered in Sports Technology market? Ans: Sports Technology Market is segmented into technology, sports and region. 4. Who are the key players in Sports Technology market? Ans: The important key players in the Sports Technology Market are – IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC, LG, Sharp, Samsung, Fitbit, Apple, Garmin, Sony, ARRI, Panasonic Corporation. 5. What is the study period of this market? Ans: The Sports Technology Market is studied from 2020 to 2027.
1. Global Sports Technology Market: Research Methodology 2. Global Sports Technology Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Sports Technology Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Sports Technology Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Sports Technology Market Segmentation 4.1. Global Sports Technology Market, by Technology (2020-2027) • Devices • Smart Stadium • Analytics & Statistics • Esports 4.2. Global Sports Technology Market, by Sport(2020-2027) • Soccer • Baseball • Basketball • Ice Hockey • Football/Rugby • Tennis • Cricket • Golf • Esports • Others 5. North America Sports Technology Market(2020-2027) 5.1. North America Sports Technology Market, by Technology (2020-2027) • Devices • Smart Stadium • Analytics & Statistics • Esports 5.2. North America Sports Technology Market, by Sport(2020-2027) • Soccer • Baseball • Basketball • Ice Hockey • Football/Rugby • Tennis • Cricket • Golf • Esports • Others 53. North America Sports Technology Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Sports Technology Market (2020-2027) 6.1. European Sports Technology Market, by Technology (2020-2027) 6.2. European Sports Technology Market, by Sport(2020-2027) 6.3. European Sports Technology Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Sports Technology Market (2020-2027) 7.1. Asia Pacific Sports Technology Market, by Technology (2020-2027) 7.2. Asia Pacific Sports Technology Market, by Sport(2020-2027) 7.3. Asia Pacific Sports Technology Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Sports Technology Market (2020-2027) 8.1. Middle East and Africa Sports Technology Market, by Technology (2020-2027) 8.2. Middle East and Africa Sports Technology Market, by Sport(2020-2027) 8.3. Middle East and Africa Sports Technology Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Sports Technology Market (2020-2027) 9.1. Latin America Sports Technology Market, by Technology (2020-2027) 9.2. Latin America Sports Technology Market, by Sport(2020-2027) 9.3. Latin America Sports Technology Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. IBM 10.1.1. Financial Overview 10.1.2. Global Presence 10.1.3. Capacity Portfolio 10.1.4. Business Strategy 10.1.5. Recent Developments 10.2. Ericsson 10.3. Cisco 10.4. Fujitsu 10.5. SAP SE 10.6. Oracle 10.7. NEC 10.8. LG 10.9. Sharp 10.10. Samsung 10.11. Fitbit 10.12. Apple 10.13. Garmin 10.14. Sony 10.15. ARRI 10.16. Panasonic Corporation 10.17. Modern Times Group 10.18. Activision Blizzard 10.19. Valve Corporation 10.20. Tencent 10.21. CJ Corporation