Overview
The global sports technology market is estimated to reach USD 43.6billion by 2027, registering a CAGR of 10.7% during the forecast period of 2021–2027.
The global sports technology market is witnessing increasing demand and revenues. The market rise attributes to the growing uptake of various innovative sports technologies. Evolving IoT and wired & wireless technology drive the market. Besides, the growing popularity of eSports and the advantages that sports technologies offer, escalate the market demand.
With the rising demand to efficiently improve decision-making power and converging rate potential providing real-time data, the market is projected to generate more revenues and profit. According to Market Research Future (MRFR), the global sports technology market is expected to grow at exponential CAGR during the forecast period (2020-2027). Growing penetration of cloud, IoT, and smart connected devices foster the market size.
Increasing population and rapid urbanization, industrialization, and economic growth contribute to the market growth exponentially. On the flip side, high costs associated with the development and deployment of sports technologies is the major factor estimated to obstruct the market growth. Nevertheless, increasing uses of digital campaign creation and fan engagement software by sports agencies and brands would support the market growth.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/10579
Global Sports Technology Market – Segments
The report is segmented into sports, technologies, and regions. The technology type segment is sub-segmented into devices, smart stadium, statistics & analytics, and e-sports. The sub-segment device is bifurcated into wearable, digital signage, and cameras.
The sub-segment smart stadium is bifurcated into stadiums & public security, building automation, and event management. The sub-segment e-sport is bifurcated into ticketing & merchandising, sponsorship, and advertising. Among these, the devices segment accounts for the largest market share, allowing players to wear devices and monitor the health and performance of players on the field in live events.
The sports segment is sub-segmented into baseball, basketball, cricket, ice hockey, tennis, soccer, rugby, and others. The region segment is sub-segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.
Global Sports Technology Market – Regional Analysis
North America dominates the global sports technology market. The largest market share attributes to the vast technological advances and the rising demand for advanced technologies worldwide. Besides, increasing sales of cutting-edge sports systems that help collect accurate, real-time, and actionable data increases the regional market size.
In many places across the US, state governments have made stricter pandemic mandates for the limited numbers of visitors and occupants in stadiums. The North American sports technology market is projected to retain its dominance throughout the forecast period.
Sports Technology Market – Competitive Landscape
The sports technology market appears competitive due to the presence of several well-established players. To gain a larger competitive share, these players initiate strategic moves such as mergers & acquisitions, collaboration, innovation, and brand reinforcement. The market would witness intensified competition with innovations and an increase in R&D investments and M&A.
Major Players:
Players leading the sports technology market include Apple Inc. (US), Catapult Sports (Australia), ChyronHego Corporation (US), Cisco Systems, Inc. (US), HCL Technologies Limited (India), IBM Corporation (US), Infosys Limited (India), Modern Times Group (MTG) (Sweden), Oracle Corporation (US), Panasonic Corporation (Japan), SAP SE (Germany), Sony Corporation (Japan), Stats LLC (US), and Telefonaktiebolaget LM Ericsson (Sweden), among others.
Get Complete Report @ https://www.marketresearchfuture.com/reports/sports-technology-market-10579
About Us:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
Media Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
