Global Sports Technology Market, By Technology (Device, Smart Stadium, Esports, Sports Analytics), Sports (Soccer, Baseball, Basketball, Ice Hockey, American Football/Rugby, Tennis, Cricket, Golf, Esports, Others) - Industry Trends and Forecast to 2029.
Market Analysis and Size
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.
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.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Technology (Device, Smart Stadium, Esports, Sports Analytics), Sports (Soccer, Baseball, Basketball, Ice Hockey, American Football/Rugby, Tennis, Cricket, Golf, Esports, Others)
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)
Market Players Covered
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), and HCL Technologies Limited (India).
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.
Sports Technology Market Dynamics
Major factors that are expected to boost the growth of the sports technology market in the forecast period are as follows:
- 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.
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.
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.
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, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sports technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Sports Technology Market
The pandemic of COVID-19 has had a huge impact on the sports technology market. The COVID-19's impacts has reverberated 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 had come to a halt. The completion of domestic leagues has been postponed due of Euro2020. However, in the post-COVID scenario, sports technology market is projected to be positively impacted.
- 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.
Global Sports Technology Market Scope and Market Size
The sports technology market is segmented on the basis of sports and technology. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Smart Stadium
- 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.
- Ice Hockey
- American Football/Rugby
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.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Sports Technology Market Share Analysis
The sports technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to transportation management system market.
Some of the major players operating in the 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)
Research Methodology: Global Sports Technology Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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