Global Sports Tracking Market, By Component (Software and Services), Application (Player Analysis, Team Analysis, Health Assessment, Video Analysis, and Others), Deployment Type (On-premise and Cloud), Sports Type (Individual and Team) – Industry Trends and Forecast to 2031.
Sports Tracking Market Analysis and Size
The global sports tracking market is experiencing significant growth, driven by increasing health consciousness, rising adoption of wearable technologies, and a growing interest in fitness activities. Sports tracking devices, such as smartwatches, fitness bands, and GPS-enabled devices, are gaining popularity among consumers as they offer features like heart rate monitoring, step counting, calorie tracking, and GPS route mapping. These devices provide users with real-time data and insights into their fitness levels and performance, motivating them to achieve their health and fitness goals.
Global sports tracking market size was valued at USD 2.62 billion in 2023 and is projected to reach USD 4.16 billion by 2031, with a CAGR of 5.95% during the forecast period of 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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Component (Software and Services), Application (Player Analysis, Team Analysis, Health Assessment, Video Analysis, and Others), Deployment Type (On-premise and Cloud), Sports Type (Individual and Team)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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IBM Corporation (U.S.), Sportradar AG (Switzerland), Synergy Sports (U.S.), DataArt (U.S.), SAP SE (Germany), TABLEAU SOFTWARE, LLC (U.S.), SALESFORCE Inc. (U.S.), Oracle (U.S.), Qualitas Global (India), SAS Institute Inc (U.S.)., HCL Technologies Limited (India), GlobalStep, LLC (U.S.), TruMedia Networks, Inc. (U.S.), ICEBERG Sports Analytics (Canada), SPORTSMECHANICS (India), Stats Perform (U.K.), Experfy, Inc. (U.S.), Catapult Group International Ltd. (U.S.), Orreco Limited (Ireland), Zebra Technologies Corp. (U.S.), Exasol (Germany)
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Market Opportunities
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Market Definition
Sports Tracking Market Dynamics
Drivers
- Technological Advancements of Sports Tracking Devices
The sports tracking market is experiencing continuous advancements in sensor technology, gps tracking, and data analytics, leading to significant improvements in the accuracy and functionality of sports tracking devices. Technological advancements have increased the attractiveness of sports tracking devices to consumers by offering more accurate and comprehensive data on their performance and progress. GPS tracking allows users to map their routes and analyze their performance over time, while advanced data analytics algorithms can provide personalized recommendations for improving performance and driving the market growth.
- Rising Fitness Trends
The global fitness industry has seen a rise in the popularity of different fitness trends like running, cycling, and HIIT, leading to increased popularity of devices that can monitor and track performance in these activities. Consumers are increasingly seeking ways to quantify their fitness progress and set achievable goals, making sports tracking devices an essential tool for tracking metrics such as distance covered, calories burned, and heart rate. This rise in fitness consciousness is driving the demand for sports tracking devices.
Opportunities
- Personalized Coaching and Recommendations
Sports tracking devices are evolving to offer personalized coaching and recommendations based on the data they collect. These features enhance user engagement and loyalty, such as, a sports tracking app might analyze a user's running data and suggest personalized training plans to help them achieve their goals by providing users with actionable insights to improve their fitness and performance. By offering personalized guidance, sports tracking devices can motivate users to stay active and committed to their fitness routines, ultimately enhancing the overall user experience.
- Integration with Smartphones
Seamless integration allows users to access their data, receive notifications, and control device settings directly from their smartphones. This level of connectivity enhances the functionality and convenience of sports tracking devices, making them more appealing to consumers. Users can sync their sports tracking device with their smartphone to view detailed workout summaries, share their progress on social media, or receive real-time notifications about their performance. As smartphones continue to be an integral part of everyday life, the integration of sports tracking devices with smartphones is expected to drive further growth in the market.
Restraints/Challenges
- Limited Battery Life in Sports Trackers
Limited battery life can be inconvenient, especially for those who engage in long-duration activities or who rely heavily on their devices for tracking. Constant recharging interrupts the user experience and may lead to missed tracking opportunities. Manufacturers are continually working to improve battery life through advancements in battery technology and power management to address this limitation and enhance the usability of sports tracking devices. this is a major challenge faced by users of sports tracking devices.
- Data Privacy Concerns
The collection and storage of personal health and fitness data by sports tracking devices have raised significant concerns about data privacy and security among consumers. Users are increasingly aware of the potential risks associated with sharing sensitive information, such as location data and biometric measurements, with third-party providers. There are concerns about how this data is being used, who has access to it, and the potential for data breaches that challenge market growth.
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 Development
- In May 2023, KINEXON, a prominent provider of real-time player tracking solutions, unveiled its latest product, the KINEXON PERFORM GPS Pro. This GPS-based player tracking system is tailored for coaches working in soccer, football, and other outdoor team sports. The system enables real-time tracking of players, capturing approximately 120 live metrics on performance and load. This data offers valuable insights for various purposes, including diagnostics, return-to-play strategies, training planning, load management, rehabilitation, player development, and performance analysis
Sports Tracking Market Scope
The market is segmented on the basis of component, application, deployment type, and sports type. 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.
Component
- Software
- Service
Application
- Player Analysis
- Team Analysis
- Health Assessment
- Video Analysis
- Others
Deployment type
- Cloud-Based
- On-Premises
Sports type
- Individual
- Team
Sports Tracking Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, component, application, deployment type, and sports type as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to the increasing demand for video analysis and AI technology in sports. Organizations such as the National Football League (NFL), Major League Baseball (MLB), and National Basketball Association (NBA) are driving this trend with substantial investments in cutting-edge technology. Market leaders such as Tableau Software, LLC, SAP SE, and IBM Corporation are also playing a crucial role by investing heavily in research and development to cater to client needs and maintain a competitive edge.
Asia-Pacific is expected to show significant growth in the market due to their growing sports cultures. The establishment of various sporting leagues, increased investments in sports, and the digitalization of sports are all expected to contribute to the region's market expansion.
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 like 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 Tracking 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:
- IBM Corporation (U.S.)
- Sportradar AG (Switzerland)
- Synergy Sports (U.S.)
- DataArt (U.S.)
- SAP SE (Germany)
- TABLEAU SOFTWARE, LLC (U.S.)
- SALESFORCE Inc. (U.S.)
- Oracle (U.S.)
- Qualitas Global (India)
- SAS Institute Inc (U.S.)
- HCL Technologies Limited (India)
- GlobalStep, LLC (U.S.)
- TruMedia Networks, Inc. (U.S.)
- ICEBERG Sports Analytics (Canada)
- SPORTSMECHANICS (India)
- Stats Perform (U.K.)
- Experfy, Inc. (U.S.)
- Catapult Group International Ltd. (U.S.)
- Orreco Limited (Ireland)
- Zebra Technologies Corp. (U.S.)
- Exasol (Germany)
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