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Sports Technology Market (Technology - Device, Smart Stadium, Esports, and Sports Analytics; Sports - Soccer, Baseball, Basketball, Ice Hockey, American Football/rugby, Tennis, Cricket, Golf, and E-sports): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : May, 2021

  • Rep Id : ICT00236

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the sports technology market provides an in-depth analysis of segments and sub-segments in the global as well as regional sports technology market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional sports technology market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global sports technology market. According to the report, the global market for sports technology was worth more than USD 35 billion in 2020 and is expected to reach over USD 90 Billion by 2026 growing with a CAGR of 14.6% over 2020-2026

 

Market Insight

The sports technology unit is predominantly focused on the designing of innovative applications and technologies to facilitate research and the development of intervention strategies to increase sports performance. Currently, sports technology and sports data have become an essential part of sports development and performances. As technology and data play a foremost role in enhancing player development and sporting performances, the business side of sports is also experiencing growth in revenue. Furthermore, professional sports intuitions are looking for new paths to find out how an athlete or a team can utilize novel technologies and sports performance data to gain cutting-edge competitive ability.

 

Sports technology has primarily been adopted in outdoor sports activities such as cricket, football, soccer, rugby, and others. These outdoor games are dominating in terms of revenue to the sports technology market. Furthermore, the adoption of the Internet of Things (IoT) in the sports industry is the crucial factor that drives the growth of the sports technology market. Moreover, significant improvement in audience engagement and growth in demand for data-driven decisions and operations also boost the market growth in the near future. In addition, an increase in online and offline sports events increases the growth of the sports technology market. On the other hand, high initial investment and budget constraints and an increase in cybersecurity concerns restrain the market growth during the forecast period.

 

Among the geographies, the North American region is expected to hold the largest share in the global sports technology market as countries such as the U.S. and Canada are the front-runners of the adoption of innovative sports technology. Further, the companies providing innovative analytical solutions in this region is observed to be investing considerably in research & development activities in order to develop advanced sports technology solutions. Furthermore, the Asia Pacific region is expected to register the fastest growth in the sports technology market during the forecast period owing to the growing popularity of sports as a career option. Countries like China, India, and Japan are the major contributors to the growth in the Asia Pacific sports technology market.


Sports Technology Market

 

Segment Covered

The report on global sports technology market covers segments such as technology, and sports. On the basis of technology, the sub-markets include device, smart stadium, esports, and sports analytics. On the basis of sports, the sub-markets include soccer, baseball, basketball, ice hockey, american football/rugby, tennis, cricket, golf, and e-sports.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Apple Inc., ChyronHego Corporation, Cisco Systems, Inc., HCL Technologies Limited, IBM Corporation, Infosys Limited, Modern Times Group MTG, Oracle, Panasonic Corporation, and SAP SE.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of sports technology market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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