Sports Technology Market is growing exponentially owing to certain factors including penetration of advance technologies along with a shift in marketing strategies of sports technology companies. Analytics is one of the most implemented technology in the sports industry. Sports professionals such as athletes are using analytics tools to plan their diet for the training schedule, to gain injury prevention advice, to gauge the competitor’s strength and weaknesses data and to promote physical strength and endurance related coaching. Furthermore, big data analytics is helping professional clubs to pick probable winning combination team by accessing in depth details of opposition team’s strength and weakness. For example, in the U.S., NBA basketball teams are using a shot-tracking technology, a graphic representation of players shooting accuracy and patterns basis on their position and movement, developed by RSPCT (an Israeli startup) using Intel Real Sense 3D Camera. Thus, rise in adoption of analytics in sports industry is increasing the market size of sports technology market across the globe.
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In terms of sports type, soccer held the highest market share of 18.6% in 2018 and is anticipated to hold the largest market share during the forecast period in global sports technology market. Cricket held the second largest market size in global sports technology market. Rise in number of number of soccer and cricket events across the world is increasing the usage of technology in sporting events which is driving the growth of the global sports technology market. Apart from the real time game, the market has expanded its wing by introducing online and offline e-sports leagues. Introducing the e sports league has become game changer for the market, where the targeted audiences are driven through the social media platform. For Instance, YouTube streams some of the biggest e sports leagues exclusively on its platform, and it is estimated that, the league is being watched globally, by millions of user every minute. The users who joined the league are targeted from various social media platform. Additionally, the targeting strategy has also brought a major shift in sports broadcasting market, where the number of viewers has increased in multiple folds on live streaming platform than consuming the sport events on the traditional media.
The primary market participants in the global sports technology market include ARRI AG., Robert Bosch GmbH 2020, Cisco Systems, Inc., CJ.NET., FUJITSU, IBM Corporation, Intel Corporation, Modern Times Group MTG, NCR Corporation., NEC Corporation, Panasonic Corporation, SAMSUNG, SKIDATA AG, Sony and Telefonaktiebolaget LM Ericsson amongst others.
The detailed research study provides qualitative and quantitative analysis of the global sports technology market. The sports technology market has been analyzed from demand as well as supply side. The demand side analysis covers various segments of sport market across the globe. The supply side analysis covers the major market players and their regional and global presence and strategies.
Key Findings of the Report:
- The event management segment is expected to dominate the global sports technology market by 2027 owing to the increasing number of avenues in sports, such as continuous increase in professional leagues in various sports categories, boost of sport events in schools and colleges, and government initiatives to promote sports in rural areas amongst others.
- The cricket game is projected to register a highest CAGR among all sports type in the global sports technology market by +21.2%, from 2021 to 2029. The game is becoming more popular and being widely accepted in regions due to its multi-format rule and with options to participate through various e sports games, such as EA Sports, International Captain 2012, Cricket Coach, and Ashes Cricket amongst others. The market also offers various fantasy cricket apps which engages major number of online users on its platform.
- The Europe sports technology market is expected to hold major sports market share, however, Asia Pacific regional market is expected to attain the highest CAGR among all the regions over the forecasted period. The major factors, which are contributing towards the growth of the sports technology market in the Asia Pacific region include increasing adoptions of smart devices, implementations of IoT technology, and high bandwidth internet connection amongst others.
Global Sports Technology Market
By Technology
- Camera
- Safety and Security Systems
- Digital Signage
- Software and Solutions
- Digital Content Management
- Others
By Digital Content
- Stadium and Public Security
- Event Management
- Network Management
- Crowd Management
- Crowd Management
- Video Analysis
- Data Interpretation and Analysis
- Ticketing Management
- Ticketing Management Analysis
- Others
By Sports Type
- Soccer
- Cricket
- Tennis
- Basketball
- Golf
- Swimming
- Baseball
- E-Sports
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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