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. 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. Increasing upgrading at existing stadiums conversions to new smart stadiums with mobile app connectivity and interaction for check-in, seat upgrade options, cashless purchases, and in-seat wireless charging are other factors driving growth of the sports technology market.
The Sports Technology Market research examines a number of competitive market factors, including recent industry-wide regulatory requirements and regulations that have been put in place. Our team of industry professionals has used a number of strong analytical tools, including Porter's Five Forces analysis and SWOT analysis, to provide a thorough overview of the worldwide Sports Technology market and identify the key growing trends.
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The global Sports Technology industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC Corp., LG, Sharp Corporation, and Samsung
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Additional information offered by the report:
- Along with a complete overview of the global Sports Technology market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Sports Technology market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
Segments Covered in this report are:
Sports Outlook (Revenue, USD Billion; 2021–2028)
- American Football/Rugby
Technology Outlook (Revenue, USD Billion; 2021–2028)
- Smart Stadium
- Sports Analytics
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
Radical Highlights of the Sports Technology Market Report:
- Comprehensive overview of the Sports Technology market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and RD advancements on the Sports Technology market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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