Global sports technology market
The sports technology market is valued at USD 11.13 billion in 2021 and is further estimated to reach USD 47 billion by 2029.
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Sports Technology Market Research Report Market research report enables organizations to articulate current business drift and expected future advancements. Key areas of market research, such as market definition, competitive research, market segmentation, and research methodology, are carefully and accurately considered throughout the report. Clarify various definitions and divisions or characterizations of business, business applications, and value chain structures. This report proves to be a one-stop solution for obtaining details on the Sports Technology Market.
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Outdoor sports such as cricket, football, soccer and rugby are heavily embedded with sports technology. In terms of revenue, gaming is the king of the sports tech business. In addition, indoor sporting activities are also contributing significantly to the industry as the use of sports technology in games such as badminton, chess and swimming has skyrocketed. Indoor sports are now adopting sports technology at a slower rate than outdoor sports.
Data Bridge Market Research estimates that the sports technology market will be valued at USD 11.13 billion in 2021 and further estimated to reach USD 47 billion by 2029, growing at a CAGR of 19.73% during the forecast period 2022-2029. and is expected to grow in 2020. .
market definition
The Sports Technology Section is primarily concerned with creating new applications and technologies to support research and developing intervention strategies to improve exercise performance. Sports technology and data have become an important aspect of athletic growth and performance in recent years. As technology and data play a very important role in developing a player and improving his performance in sports, the revenue side of the sport is also growing.
Report scope and market segmentation
Details Forecast period 2022 to 2029
Base year 2021
historic year
2020 (2019 – 2014 can be customized)
quantitative unit
Revenue in Billions of USD, Volume in Units, Price in USD
Target segment
Technology (devices, smart stadiums, esports, sports analytics), sports (soccer, baseball, basketball, ice hockey, American football/rugby, tennis, cricket, golf, esports, etc.)
Target country
North America, Brazil, Argentina, and the United States as part of South America, Canada, Mexico, Germany, Italy, United Kingdom, France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Asia Pacific (APAC), Saudi Arabia, UAE, South Africa, Egypt, Israel as part of Middle East and Africa (MEA), Rest of Middle East and Africa ( MEA)
Target market players
Fitbit LLC (US), IBM (US), Telefonaktiebolaget LM Ericsson (Sweden), Cisco Systems, Inc. (US), FUJITSU (Japan), SAP SE (Germany), Oracle (US), LG Electronics. (Korea), SAMSUNG (Korea), Apple Inc. (US), Garmin Ltd. (US), SONY INDIA (India), Panasonic Corporation (Japan), Catapult (Australia), NEC (Japan), Sharp Corporation (Japan), MODERN TIMES GROUP (Sweden), Activision Publishing, Inc. (USA), Tencent Holdings Ltd. (China), CJ CHEILJEDANG CORP. (Korea), HCL Technologies Limited (India).
market opportunity
Growing demand for data-driven decision-making
Increased pressure on players and teams to perform better
As esports technology becomes more widely adopted and the demand for fan engagement grows, so does the appetite for sports technology.
Sports technology market dynamics
driver
Key factors expected to boost the growth of the sports technology market during the forecast period are:
driver:
Increased adoption of emerging technologies
The market is likely to be driven by increased adoption of emerging technologies such as Internet of Things (IoT), data analytics, and social media integration, which will further accelerate the growth of the sports technology market in many sports.
Growing Adoption of Sports Technology
Soccer has a higher rate of adoption of sports technology than tennis, golf, and other sports, and is expected to further drive the growth of the sports technology market.
Increased investment by various organizations
Businesses are undergoing a paradigm shift due to increased investment by many organizations such as the adoption of the latest technology to track player performance and attract fans, further contributing to the growth of the market.
chance
Moreover, the advent of AI and ML technologies is further estimated to offer potential opportunities for the growth of the sports technology market in the coming years.
restraint/challenge
On the other hand, increasing initial investment and budget constraints are projected to further hinder the growth of the sports technology market during the period covered. However, a shortage of professionals with analytical skills could further challenge the growth of the sports technology market in the near future.
This sports technology market report provides details of new recent developments, trade regulations, import/export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, and emerging revenue pockets. , analyze opportunities regarding market changes. Regulation, Strategic Market Growth Analysis, Market Size, Category Market Growth, Application Niche and Dominance, Product Approvals, Product Launch, Geographic Expansion, Technological Innovation in the Market. For more information on the sports technology market, please contact Data Bridge Market Research for the analyst brief. Our team helps you make informed market decisions to achieve market growth.
Impact of Covid-19 on Sports Technology Market
The COVID-19 pandemic has had a major impact on the sports technology market. The impact of COVID-19 has rippled through the global health, education, financial and commercial sectors, and the sports environment is no exception. The outbreak and spread of the virus has brought non-stop sporting activity to a halt around the world. The end of the domestic league has been postponed ahead of Euro 2020. However, in a post-COVID scenario, the sports technology market is projected to be positively impacted.
Recent development
In February 2021, Toronto-based sports technology company PUSH partnered with Catapult to help coaches plan, track, measure and enhance player performance off the field.
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Competitive landscape and sports technology market share analysis
The competitive landscape of the sports technology market provides details on a competitor-by-competitor basis. Details included include company overview, company finances, earnings, market potential, R&D investments, new market initiatives, global presence, production sites and facilities, production capacity, company strengths and weaknesses. , product launches, product breadth and breadth, and applications. control. The above data points provided are solely related to the company’s focus related to the transportation management system market.
Some of the key players operating in the sports technology market are:
Fitbit LLC (United States)
IBM (United States)
Telefonaktiebolaget LM Ericsson (Sweden)
Cisco Systems, Inc. (USA)
Fujitsu (Japan)
SAPSE (Germany)
Oracle (US)
LG Electronics. (Korea)
Samsung (Korea)
Apple Inc. (USA)
Garmin (USA)
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 Co., Ltd. (Korea)
HCL Technologies Limited (India)
Key points of the report
Analysis of growth trends in the global sports technology market is based on CAGR calculated from 2022 to 2029.
The market share and growth rate of each region are evaluated to analyze the market function of each region.
It contains all the necessary details about the market’s key producers, customers, and distributors.
Customizing reports:
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About Data Bridge Market Research:
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