Sports Technology Market size was valued at US$ 18.59 Bn. in 2023 and is expected to reach US$ 54.80 Bn. by 2030, at a CAGR of 16.7% during a forecast period.
Sports Technology Market Overview:
The Sports Technology Market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry’s top rivals. The research scope covers a complete analysis of the Sports Technology Market, as well as the causes for variances in the industry’s growth in various places.
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Sports Technology Market Scope:
To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.
Sports Technology Market Drivers:
Growing need for data-driven decision-making: Since the introduction of Artificial Intelligence (AI) and Machine Learning, data-driven decision-making has been used in the corporate world for a few years (ML). It has also given rise to a centralized structure for companies to use correct data to promote collective decision-making, encouraging sporting teams and management all over the world to adopt innovative technologies. The rapid adoption of data-based decision-making models, on the other hand, has resulted in a huge rise in data generation during every sporting event. For an in-depth understanding of player metrics, health, and performance during the league/tournament, massive amounts of data must be computed, processed, and evaluated. Wearable device adoption delivers these stats to the team management for improved analysis, allowing for the development of a team plan. As a result of the growing acceptance of developing technologies as a result of digitalization, there is a significant need for sports technology.
Integration with Artificial Intelligence (AI): Complex tasks can be completed with precision and convenience using artificial intelligence (AI) combined with sports technology. AI is being used in a variety of industries, including banking and finance, manufacturing, and healthcare. The effective integration of new technology has prompted solution providers to incorporate AI modules into their systems to meet the growing need for sports technology. Over the course of the review period, the need for integrating AI and wearable technology into live tracking games and player performances is expected to grow.
Sports Technology Market Segmentation:
by Technology
Devices
Smart Stadium
Analytics & Statistics
Esports
by Sport
Soccer
Baseball
Basketball
Ice Hockey
Football/Rugby
Tennis
Cricket
Golf
Esports
Others
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Sports Technology Market Key Players: The key players are
1. IBM
2. Ericsson
3. Cisco
4. Fujitsu
5. SAP SE
6. Oracle
7. NEC
8. LG
9. Sharp
10. Samsung
11. Fitbit
12. Apple
13. Garmin
14. Sony
15. ARRI
16. Panasonic Corporation
17. Modern Times Group
18. Activision Blizzard
19. Valve Corporation
20. Tencent
21. CJ Corporation
Regional Analysis:
Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the Sports Technology Market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
Key Questions Answered in the Sports Technology Market Report are:
- Which sub-segment had the largest share in the Sports Technology Market?
- How is the competitive landscape of the Sports Technology Market in 2023?
- Which are the key drivers impacting the Sports Technology Market growth?
- Which region holds the maximum share in the Sports Technology Market?
- What will be the CAGR of the Sports Technology Market during the forecast period (2023-2029)?
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