Reliable Data You Can Trust
Reliable Data You Can Trust
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
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.
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.
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.
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.