Sports Technology Market size was valued at US$ 18.59 Bn. in 2023 and is expected to reach US$ 54.80 Bn. by 2030, at a CAGR of 16.7% during a forecast period.Sports Technology Market Overview
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 Sports Technology 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 Sports Technology Market Report Scope and Research Methodology 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, PESTLE 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 global Sports Technology Market trends with 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. 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 Euro 2021. 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. Technological Advancements creating opportunities Technological advancements is creating various opportunities within the sports technology market, which is transforming the ways of global sports technology manufacturing. Wearable devices, such as smartwatches, fitness trackers, and specialized sports wearables are becoming indispensable for athletes. The advanced biometric monitoring systems are offering deep insights into health and fitness of athletes. Sustainable stadiums, equipment, and practices have become common and companies specializing in green technology and sustainability solutions are finding opportunities in the market. 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, the Devices segment held the largest Sports Technology Market share of around 39.2% in 2023. Smart Stadium segment held second largest market share of 28.5% in 2023. Smart stadium technology 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 31% in 2023. 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 2023 to 2030, 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 2021, 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
European Sports Technology Market held largest share of around 34% in 2023. 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 2023 to 2030, Asia Pacific is expected to be the fastest-growing regional market. China lead the APAC regional market in 2021, 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 2021 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 1. 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. 2. 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. 3. 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.Global Sports Technology Market Scope: Inquire before buying
Global Sports Technology Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 18.59 Bn. Forecast Period 2024 to 2030 CAGR: 16.7% Market Size in 2030: US $ 54.80 Bn. Segments Covered: by Technology Devices Smart Stadium Analytics & Statistics Esports by Sport Soccer Baseball Basketball Ice Hockey Football/Rugby Tennis Cricket Golf Esports Others Sports Technology Market , by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Sports Technology Key Players
1. IBM 2. Ericsson 3. Cisco 4. Fujitsu 5. SAP SE 6. Oracle 7. NEC 8. LG 9. Sharp 10. Samsung 11. Fitbit 12. Apple 13. Garmin 14. Sony 15. ARRI 16. Panasonic Corporation 17. Modern Times Group 18. Activision Blizzard 19. Valve Corporation 20. Tencent 21. CJ Corporation Frequently Asked Questions: 1. Which region held the largest share in Global Sports Technology Market in 2023? Ans: Europe region held the highest Sports Technology Market share in 2023. 2. What is the expected growth rate of Sports Technology Market? Ans: The Sports Technology Market is growing at a CAGR of 16.7% during forecasting period 2024-2030. 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 Industry? Ans: The important Sports Technology Market key competitors are – IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC, LG, Sharp, Samsung, Fitbit, Apple, Garmin, Sony, ARRI, Panasonic Corporation. 5. What is the forecast period of the Sports Technology market report? Ans: The forecast period of the Sports Technology market report is from 2024 to 2030.
1. Sports Technology Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Sports Technology Market: Dynamics 2.1. Sports Technology Market Trends by Region 2.1.1. North America Sports Technology Market Trends 2.1.2. Europe Sports Technology Market Trends 2.1.3. Asia Pacific Sports Technology Market Trends 2.1.4. Middle East and Africa Sports Technology Market Trends 2.1.5. South America Sports Technology Market Trends 2.2. Sports Technology Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Sports Technology Market Drivers 2.2.1.2. North America Sports Technology Market Restraints 2.2.1.3. North America Sports Technology Market Opportunities 2.2.1.4. North America Sports Technology Market Challenges 2.2.2. Europe 2.2.2.1. Europe Sports Technology Market Drivers 2.2.2.2. Europe Sports Technology Market Restraints 2.2.2.3. Europe Sports Technology Market Opportunities 2.2.2.4. Europe Sports Technology Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Sports Technology Market Drivers 2.2.3.2. Asia Pacific Sports Technology Market Restraints 2.2.3.3. Asia Pacific Sports Technology Market Opportunities 2.2.3.4. Asia Pacific Sports Technology Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Sports Technology Market Drivers 2.2.4.2. Middle East and Africa Sports Technology Market Restraints 2.2.4.3. Middle East and Africa Sports Technology Market Opportunities 2.2.4.4. Middle East and Africa Sports Technology Market Challenges 2.2.5. South America 2.2.5.1. South America Sports Technology Market Drivers 2.2.5.2. South America Sports Technology Market Restraints 2.2.5.3. South America Sports Technology Market Opportunities 2.2.5.4. South America Sports Technology Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Sports Technology Industry 2.8. Analysis of Government Schemes and Initiatives For Sports Technology Industry 2.9. Sports Technology Market Trade Analysis 2.10. The Global Pandemic Impact on Sports Technology Market 3. Sports Technology Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2023-2030 3.1. Sports Technology Market Size and Forecast, by Technology (2023-2030) 3.1.1. Devices 3.1.2. Smart Stadium 3.1.3. Analytics & Statistics 3.1.4. Esports 3.2. Sports Technology Market Size and Forecast, by Sport (2023-2030) 3.2.1. Soccer 3.2.2. Baseball 3.2.3. Basketball 3.2.4. Ice Hockey 3.2.5. Football/Rugby 3.2.6. Tennis 3.2.7. Cricket 3.2.8. Golf 3.2.9. Esports 3.2.10.Other 3.3. Sports Technology Market Size and Forecast, by Region (2023-2030) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Sports Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 4.1. North America Sports Technology Market Size and Forecast, by Technology (2023-2030) 4.1.1. Devices 4.1.2. Smart Stadium 4.1.3. Analytics & Statistics 4.1.4. Esports 4.2. North America Sports Technology Market Size and Forecast, by Sport (2023-2030) 4.2.1. Soccer 4.2.2. Baseball 4.2.3. Basketball 4.2.4. Ice Hockey 4.2.5. Football/Rugby 4.2.6. Tennis 4.2.7. Cricket 4.2.8. Golf 4.2.9. Esports 4.2.10.Other 4.3. North America Sports Technology Market Size and Forecast, by Country (2023-2030) 4.3.1. United States 4.3.1.1. United States Sports Technology Market Size and Forecast, by Technology (2023-2030) 4.3.1.1.1. Devices 4.3.1.1.2. Smart Stadium 4.3.1.1.3. Analytics & Statistics 4.3.1.1.4. Esports 4.3.1.2. United States Sports Technology Market Size and Forecast, by Sport (2023-2030) 4.3.1.2.1. Soccer 4.3.1.2.2. Baseball 4.3.1.2.3. Basketball 4.3.1.2.4. Ice Hockey 4.3.1.2.5. Football/Rugby 4.3.1.2.6. Tennis 4.3.1.2.7. Cricket 4.3.1.2.8. Golf 4.3.1.2.9. Esports 4.3.1.2.10.Other 4.7.2. Canada 4.3.2.1. Canada Sports Technology Market Size and Forecast, by Technology (2023-2030) 4.3.2.1.1. Devices 4.3.2.1.2. Smart Stadium 4.3.2.1.3. Analytics & Statistics 4.3.2.1.4. Esports 4.3.2.2. Canada Sports Technology Market Size and Forecast, by Sport (2023-2030) 4.3.2.2.1. Soccer 4.3.2.2.2. Baseball 4.3.2.2.3. Basketball 4.3.2.2.4. Ice Hockey 4.3.2.2.5. Football/Rugby 4.3.2.2.6. Tennis 4.3.2.2.7. Cricket 4.3.2.2.8. Golf 4.3.2.2.9. Esports 4.3.2.2.10.Other 4.7.3. Mexico 4.3.3.1. Mexico Sports Technology Market Size and Forecast, by Technology (2023-2030) 4.3.3.1.1. Devices 4.3.3.1.2. Smart Stadium 4.3.3.1.3. Analytics & Statistics 4.3.3.1.4. Esports 4.3.3.2. Mexico Sports Technology Market Size and Forecast, by Sport (2023-2030) 4.3.3.2.1. Soccer 4.3.3.2.2. Baseball 4.3.3.2.3. Basketball 4.3.3.2.4. Ice Hockey 4.3.3.2.5. Football/Rugby 4.3.3.2.6. Tennis 4.3.3.2.7. Cricket 4.3.3.2.8. Golf 4.3.3.2.9. Esports 4.3.3.2.10.Other 5. Europe Sports Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 5.1. Europe Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.2. Europe Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3. Europe Sports Technology Market Size and Forecast, by Country (2023-2030) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.1.2. United Kingdom Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3.2. France 5.3.2.1. France Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.2.2. France Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3.3. Germany 5.3.3.1. Germany Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.3.2. Germany Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3.4. Italy 5.3.4.1. Italy Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.4.2. Italy Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3.5. Spain 5.3.5.1. Spain Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.5.2. Spain Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3.6. Sweden 5.3.6.1. Sweden Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.6.2. Sweden Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3.7. Austria 5.3.7.1. Austria Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.7.2. Austria Sports Technology Market Size and Forecast, by Sport (2023-2030) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Sports Technology Market Size and Forecast, by Technology (2023-2030) 5.3.8.2. Rest of Europe Sports Technology Market Size and Forecast, by Sport (2023-2030) 6. Asia Pacific Sports Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 6.1. Asia Pacific Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.2. Asia Pacific Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.7. Asia Pacific Sports Technology Market Size and Forecast, by Country (2023-2030) 6.3.1. China 6.3.1.1. China Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.1.2. China Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.2. S Korea 6.3.2.1. S Korea Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.2.2. S Korea Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.3. Japan 6.3.3.1. Japan Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.3.2. Japan Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.4. India 6.3.4.1. India Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.4.2. India Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.5. Australia 6.3.5.1. Australia Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.5.2. Australia Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.6. Indonesia 6.3.6.1. Indonesia Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.6.2. Indonesia Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.7. Malaysia 6.3.7.1. Malaysia Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.7.2. Malaysia Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.8. Vietnam 6.3.8.1. Vietnam Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.8.2. Vietnam Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.9. Taiwan 6.3.9.1. Taiwan Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.9.2. Taiwan Sports Technology Market Size and Forecast, by Sport (2023-2030) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Sports Technology Market Size and Forecast, by Technology (2023-2030) 6.3.10.2. Rest of Asia Pacific Sports Technology Market Size and Forecast, by Sport (2023-2030) 7. Middle East and Africa Sports Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 7.1. Middle East and Africa Sports Technology Market Size and Forecast, by Technology (2023-2030) 7.2. Middle East and Africa Sports Technology Market Size and Forecast, by Sport (2023-2030) 7.7. Middle East and Africa Sports Technology Market Size and Forecast, by Country (2023-2030) 7.7.1. South Africa 7.3.1.1. South Africa Sports Technology Market Size and Forecast, by Technology (2023-2030) 7.3.1.2. South Africa Sports Technology Market Size and Forecast, by Sport (2023-2030) 7.7.2. GCC 7.3.2.1. GCC Sports Technology Market Size and Forecast, by Technology (2023-2030) 7.3.2.2. GCC Sports Technology Market Size and Forecast, by Sport (2023-2030) 7.7.3. Nigeria 7.3.3.1. Nigeria Sports Technology Market Size and Forecast, by Technology (2023-2030) 7.3.3.2. Nigeria Sports Technology Market Size and Forecast, by Sport (2023-2030) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Sports Technology Market Size and Forecast, by Technology (2023-2030) 7.3.4.2. Rest of ME&A Sports Technology Market Size and Forecast, by Sport (2023-2030) 8. South America Sports Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 8.1. South America Sports Technology Market Size and Forecast, by Technology (2023-2030) 8.2. South America Sports Technology Market Size and Forecast, by Sport (2023-2030) 8.7. South America Sports Technology Market Size and Forecast, by Country (2023-2030) 8.3.1. Brazil 8.3.1.1. Brazil Sports Technology Market Size and Forecast, by Technology (2023-2030) 8.3.1.2. Brazil Sports Technology Market Size and Forecast, by Sport (2023-2030) 8.3.2. Argentina 8.3.2.1. Argentina Sports Technology Market Size and Forecast, by Technology (2023-2030) 8.3.2.2. Argentina Sports Technology Market Size and Forecast, by Sport (2023-2030) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Sports Technology Market Size and Forecast, by Technology (2023-2030) 8.3.3.2. Rest Of South America Sports Technology Market Size and Forecast, by Sport (2023-2030) 9. Global Sports Technology Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2023) 9.3.5. Company Locations 9.4. Leading Sports Technology Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. IBM 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. 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 11. Key Findings 12. Industry Recommendations 13. Sports Technology Market: Research Methodology 14. Terms and Glossary