Global Sports Technology Market, By Technology (Device, Smart Stadium, Esports, and Sports Analytics), Sports (Soccer, Baseball, Basketball, Ice Hockey, American Football/Rugby, Tennis, Cricket, Golf, Esports, and Others), End User (Sports Association, Club, and Leagues) – Industry Trends and Forecast to 2031.
Sports Technology Market Analysis and Size
The sports technology market is witnessing remarkable growth fueled by advancements in analytics, wearables, and virtual training platforms. Utilizing the latest methods and technologies, athletes enhance performance and minimize injury risks. This surge is driven by a demand for data-driven insights, personalized training regimens, and fan engagement. From smart gear to AI-coached experiences, innovation is reshaping the landscape, driving unparalleled growth in the industry.
The global sports technology market size was valued at USD 15.92 billion in 2023, is projected to reach USD 68.01 billion by 2031, with a CAGR of 19.9% during the forecast period 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Technology (Device, Smart Stadium, Esports, and Sports Analytics), Sports (Soccer, Baseball, Basketball, Ice Hockey, American Football/Rugby, Tennis, Cricket, Golf, Esports, and Others), End User (Sports Association, Club, and Leagues)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, 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 Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Fitbit LLC (U.S.), IBM (U.S.), TTelefonaktiebolaget LM Ericsson (Sweden), Cisco Systems, Inc. (U.S.), FUJITSU (Japan), SAP SE (Germany), Oracle (U.S.), LG Electronics (South Korea), SAMSUNG (South Korea), Apple Inc. (U.S.), Garmin Ltd. (U.S.), SONY INDIA (India), Panasonic Corporation (Japan), Catapult (Australia), NEC Corporation (Japan), SHARP CORPORATION (Japan), MODERN TIMES GROUP (Sweden), Activision Publishing, Inc. (U.S.), Tencent Holdings Ltd. (China), CJ CHEILJEDANG CORP. (South Korea), and HCL Technologies Limited (India)
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Market Opportunities
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Market Definition
Sports technology refers to the application of scientific advancements to enhance athletic performance, training methodologies, and spectator experience. It encompasses a wide range of innovations such as wearable sensors for monitoring player metrics, video analysis software for performance evaluation, and virtual reality training simulations. These advancements aim to improve athletes' abilities, prevent injuries, and enrich the overall engagement with sports.
Sports Technology Market Dynamics
Drivers
- Growing Demand for Performance Enhancement
The sports technology market is propelled by the incessant pursuit of performance enhancement among athletes, teams, and coaches. Wearable devices, such as fitness trackers and smartwatches, offer real-time data on vital metrics, optimizing training regimes. Advanced analytics software processes this data, offering insights into performance trends and injury prevention strategies. For instance, products such as Catapult Sports' wearable GPS trackers provide invaluable performance metrics, revolutionizing training methodologies and maximizing athletic potential.
- Increasing Data Analytics and Insights
The ascent of big data analytics has revolutionized sports, offering profound insights into player performance, strategy refinement, and fan interaction. Advanced platforms analyze data from sensors and cameras to refine training routines, augment game tactics, and enrich fan engagement. For instance, the NBA employs player tracking data to enhance coaching strategies and develop personalized training programs, underscoring how data analytics propels innovation and competitiveness across the sports landscape.
Opportunities
- Corporate Sponsorship and Investment
Corporate sponsorship and investment play a pivotal role in propelling the sports technology market forward. Traditional sports industry giants and tech companies are investing in partnerships, sponsorship deals, and venture capital injections, fostering innovation and expansion. For instance, Nike's collaboration with Apple on the Nike+ ecosystem and Intel's partnership with the International Olympic Committee for immersive experiences demonstrate how such alliances drive technological advancements within sports, benefiting athletes and fans.
- Globalization of Sports
The globalization of sports fuels demand for remote coaching, scouting, and talent identification technologies. Virtual training platforms such as Coach's Eye and Hudl enable athletes to receive coaching from experts worldwide. Scouting apps such as Tonsser connect players with scouts globally, facilitating talent identification across borders. Remote coaching tools such as CoachNow empower coaches to provide personalized guidance regardless of geographical location, driving innovation and accessibility in the sports technology market.
Restraints/Challenges
- Need of Education and Training
The need for education and training in sports technology presents a significant barrier to market growth. Requiring specialized knowledge and resources, ensuring coaches, athletes, and support staff are proficient in interpreting and utilizing data effectively proves challenging. This hurdle restricts widespread adoption and implementation of sports technology solutions, hindering market expansion and innovation.
- Data Privacy Concerns
Data privacy concerns surrounding the collection and utilization of personal data in sports technology create a substantial hindrance to market growth. Balancing the acquisition of valuable insights with the protection of individual privacy rights proves challenging for companies in this sector. Without resolution, apprehensions regarding data privacy will continue to impede the widespread adoption and advancement of sport technology solutions.
This 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In January 2023, Panasonic Connect North America, a division of Panasonic Corporation of North America, unveiled the next generation of KAIROS, its advanced live production platform. Featuring the KC200 and KC2000, this expansion introduces two new Mainframes and software upgrades, enhancing scalability and enabling support for larger, more intricate productions within KAIROS' ecosystem
- In November 2022, Sportradar introduced "Sportradar Virtual Stadium," leveraging AI and machine learning to enhance bettor engagement during the Qatar World Football Tournament. This social engagement tool enables bookmakers to establish deeper connections with bettors, elevating the overall customer experience and fostering more meaningful interactions throughout the event
- In November 2022, Catapult launched a baseball performance analytics solution designed to mitigate injuries and expedite critical decision-making processes. Integrating a novel algorithm, the solution accurately analyzes Swing, Pitch, and Throw actions specific to baseball players' movements, providing comprehensive insights to optimize player performance and reduce injury risks effectively
- In October 2021, Hudl unveiled the latest iteration of Hudl Sportscode, featuring enhanced functionality for creating diverse charts directly within Code Windows. With every value seamlessly linked to video footage, this update streamlines the process of generating insightful reports. Coaches, analysts, and players can now leverage this advanced feature to gain deeper insights into performance metrics efficiently
Sports Technology Market Scope
The market is segmented on the basis of technology, sports, and end user. The growth amongst these segments will help you analyze meagre 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.
Technology
- Device
- Wearables
- Digital Signage
- Camera
- Smart Stadium
- Software
- Stadium and Public Security
- Building Automation
- Event Management
- Others
- Services
- Software
- Esports
- Tickets and Merchandise
- Sponsorship and Advertisement
- Others
- Sports Analytics
- On-field
- Player and Team Analysis
- Video Analysis
- Performance Improvement
- Refereeing Decisions
- Health Assessment
- Off-field
- Fan EngagementTicket Pricing
- Content Platforms
- Fan Experience
- Fantasy Sports
- Others
- On-field
Sports
- Soccer
- Baseball
- Basketball
- Ice Hockey
- American Football/Rugby
- Tennis
- Cricket
- Golf
- Esports
- Others
End User
- Sports Association
- Club
- Leagues
Sports Technology Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by country, technology, sports, and end user as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, 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 Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe is projected to observe significant growth in the sports technology market, driven by increased adoption of wearable performance tracking devices. The region's growing demand for smart camera technologies is expected to further fuel the market's expansion, especially during the forecast period.
North America is expected to dominate the sports technology market, fueled by numerous software companies and a thriving culture of league sports. The region's robust technology industry will further propel global market growth, reflecting a trend set to endure during the forecast period.
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 such as 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 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 market.
Some of the major players operating in the market are:
- Fitbit LLC (U.S.)
- IBM (U.S.)
- TTelefonaktiebolaget LM Ericsson (Sweden)
- Cisco Systems, Inc. (U.S.)
- FUJITSU (Japan)
- SAP SE (Germany)
- Oracle (U.S.)
- LG Electronics (South Korea)
- SAMSUNG (South Korea)
- Apple Inc. (U.S.)
- Garmin Ltd. (U.S.)
- SONY INDIA (India)
- Panasonic Corporation (Japan)
- Catapult (Australia)
- NEC Corporation (Japan)
- SHARP CORPORATION (Japan)
- MODERN TIMES GROUP (Sweden)
- Activision Publishing, Inc. (U.S.)
- Tencent Holdings Ltd. (China)
- CJ CHEILJEDANG CORP. (South Korea)
- HCL Technologies Limited (India)
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