Sports Technology Market Top Manufacturers, Size, Business Scenario, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2028
The global sports technology market size is expected to reach USD 40.22 Billion by 2028 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. Steady growth of the market can be attributed to increasing adoption of new technologies in the sports industry such as big data analytics, Artificial Intelligence (AI), cloud services, wearables, and drones. Utilization of Video Assistant Referee (VAR) in the 2018 FIFA World Cup in Russia was the start of the trend which is another key factor driving the deployment of sports technology in the global sports industry. The VAR system operated out of a video control room and could communicate with the referee on the soccer field to review a play.
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Greater accuracy of the VAR system is driving its adoption in the sports industry. Rising need for fairer gameplay, safer, and potentially more profitable events are some other key factors driving adoption of sports technology solutions currently.
Rising interest in franchises to capitalize on mobile technology to improve viewer experience among fans in their homes and for spectators in stands at stadiums is another key factor driving adoption of smart technologies in the sports industry.
One of the report’s central components is the broad Sports Technology market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
Companies profiled in the global Sports Technology market:
IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC Corp., LG, Sharp Corporation, and Samsung
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Emergen Research has segmented the global sports technology market on the basis of sports, technology, and region:
Sports Outlook (Revenue, USD Billion; 2021–2028)
Technology Outlook (Revenue, USD Billion; 2021–2028)
Regional Bifurcation of the Sports Technology Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Highlights from the Report
In June 2019, IBM & FOX Sports teamed up to transform the production of the 2019 FIFA Women’s World Cup France event. This helped to transform the production of the event by infusing Artificial Intelligence analysis and live streaming during the game.
The soccer segment accounted for largest revenue share 2020, driven by rising adoption of advanced technologies such as AI, big data analytics, cloud services, drones, and wearables.
Devices segment revenue is expected to expand at a rapid CAGR during the forecast period. Benefits offered by wearable devices include workout injury prevention, player safety assessment tool, and metrics of physical conditioning and performance, which is boosting demand for wearables.
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Sports Technology market?
What are the key product types and applications of the Sports Technology industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
What is the competitive landscape of the Sports Technology market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Sports Technology Market by 2028?
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