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 researchers have considered all the factors influencing the growth of the Sports Technology market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Sports Technology market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Sports Technology market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC Corp., LG, Sharp Corporation, and Samsung
Research Report on the Sports Technology Market Addresses the Following Key Questions:
- Who are the dominant players of the Sports Technology market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Sports Technology market?
- What are the key growth drivers and restraining factors of the Sports Technology market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Sports Technology market and its key segments?
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Emergen Research has segmented the global Sports Technology market on the basis of type, type of care, 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
In conclusion, the Sports Technology Market report is an exhaustive database that will help readers formulate lucrative strategies. The Sports Technology Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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