The global sports technology market size is expected to reach USD 40.22 Billion by 2028 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. Steady growth of the market can be attributed to increasing adoption of new technologies in the sports industry such as big data analytics, Artificial Intelligence (AI), cloud services, wearables, and drones. Utilization of Video Assistant Referee (VAR) in the 2018 FIFA World Cup in Russia was the start of the trend which is another key factor driving the deployment of sports technology in the global sports industry. The VAR system operated out of a video control room and could communicate with the referee on the soccer field to review a play. Greater accuracy of the VAR system is driving its adoption in the sports industry. Rising need for fairer gameplay, safer, and potentially more profitable events are some other key factors driving adoption of sports technology solutions currently. Rising interest in franchises to capitalize on mobile technology to improve viewer experience among fans in their homes and for spectators in stands at stadiums is another key factor driving adoption of smart technologies in the sports industry. Increasing upgrading at existing stadiums conversions to new smart stadiums with mobile app connectivity and interaction for check-in, seat upgrade options, cashless purchases, and in-seat wireless charging are other factors driving growth of the sports technology market.
The study extensively depends on qualitative and quantitative data to provide, interpret and analyse raw data about the target market, product or services offered and prominent market players operating in the Sports Technology market. The new intelligence study further digs deep to extract all data pertaining to aspects such as production capability, spending power, customer preference and potential customers to offer usable business information.
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Competitive Terrain:
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Sports Technology market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
The leading market contenders listed in the report are:
IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC Corp., LG, Sharp Corporation, and Samsung
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Emergen Research has segmented the global Sports Technology market on the basis of type, application, end-use, and region:
Segments Covered in this report are:
-
Sports Outlook (Revenue, USD Billion; 2021–2028)
- Baseball
- Soccer
- Basketball
- Cricket
- Tennis
- American Football/Rugby
- Others
-
Technology Outlook (Revenue, USD Billion; 2021–2028)
- Esports
- Device
- Smart Stadium
- Sports Analytics
-
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- North America
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Objectives of the Report:
- Analysis and estimation of the Sports Technology Market size and share for the projected period of 2022-2030
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Sports Technology Market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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