Sports Technology - Global Market Outlook (2020 -2028)
According to Stratistics MRC, the Global Sports Technology Market is accounted for $15.22 billion in 2020 and is expected to reach $63.72 billion by 2028 growing at a CAGR of 19.6% during the forecast period. While the factors like the increasing need for data-driven decisions and rising pressure for player/team performance improvement are propelling the market growth. However, high initial investments and budget constraints are hampering market growth.
Sports Technology refers to the technology which is utilized to improve the sports experience and training with the use of advancements and innovations. Sports technology also improves fan engagement by influencing the way sports content is consumed. It also helps athletes improve their training and competitive surroundings, to enhance their overall athletic performance.
Based on the product, the smart stadium segment is estimated to have lucrative growth due to it assists in enhancing the audience experience and strengthening stadium security. The technology includes some cameras, sensors, and digital signage to supply real-time information on parking slots, ticketing lines, and food concessions, and other related information.
By geography, Europe is going to have a huge demand during the forecast period. Europe is home to several football leagues and most of these leagues have adopted technology in different forms. The stringent public safety regulations enforced by the governing bodies to ensure the security of the spectators and the stadiums are expected to drive the regional market.
Some of the key players profiled in the Sports Technology Market include Apple Inc., ChyronHego Corporation, Cisco Systems, Inc., HCL Technologies Limited, IBM Corporation, Infosys Limited, Modern Times Group MTG, Oracle, Panasonic Corporation, SAP SE, Sony Corporation, Stats LLC, Telefonaktiebolaget LM Ericsson, Sharp, Samsung, Ericsson, Fujitsu, and Valve Corporation.
Estimated Market Size in 2020:
USD 15.22 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 63.72 billion
Tables, Graphs & Figures
Product, Sports, Component, Sport Type, Technology, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Sports Analytics & Statistics
• Smart Stadium
• American Football/Rugby
• Ice Hockey
• Other Sports
• Wearable Devices and Sports Equipment
Sport Types Covered:
• Indoor Sports
• Outdoor Sports
• Wearable Technology
• Tracking System/Hawk-Eye Technology
• Virtual Reality
• Artificial Intelligence/Machine Learning (AI/ML)
• Internet of Things (IoT)
• Broadcast Technology
End Users Covered:
• Sports Associations
• Athletes & Sports Person
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Sports Technology Market is majorly driven by increasing need for data–driven decisions, increasing pressure for player/team performance improvement, and rising adoption of e-sports technology.
The American football/rugby segment is growing at the highest CAGR due to an improved understanding of the players tackle their opponents and their effect on the performance and health of players.
Europe dominated with a significant market share owing to the adoption of new advancements by leagues in the region and high investment in the sports industry.
Asia Pacific market is growing at a highest CAGR owing to the presence of a large number of market participants.
Key players in Sports Technology Market include Apple Inc., ChyronHego Corporation, Cisco Systems, Inc., HCL Technologies Limited, IBM Corporation, Infosys Limited, Modern Times Group MTG, Oracle, Panasonic Corporation, SAP SE, Sony Corporation, Stats LLC, Telefonaktiebolaget LM Ericsson, Sharp, Samsung, Ericsson, Fujitsu, and Valve Corporation.
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