Sports Technology Market to Flourish with an Impressive CAGR during 2021-2028
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. 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.
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Competitive Terrain:
The Global Sports Technology Market is highly
consolidated due to the presence of a large number of companies across this
industry. The report discusses the current market standing of these companies, their
past performances, demand and supply graph, production and consumption patterns,
sales network, distribution channels, and growth opportunities in the market at
length. The report scrutinizes the strategic approach of key market players
towards expanding their product offerings and fortifying their market foothold.
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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The report further covers comprehensive SWOT
analysis and Porter’s Five Forces analysis to offer a complete understanding of
the competitive landscape and scenario of each market player. The report also
provides an in-depth analysis of the applications and product types offered in
the market.
Emergen Research
has segmented the global sports technology market on the basis of sports,
technology, and region:
Sports Outlook
(Revenue, USD Billion; 2021–2028)
Baseball
Soccer
Basketball
Cricket
Tennis
American Football/Rugby
Others
Technology
Outlook (Revenue, USD Billion; 2021–2028)
Esports
Device
Smart
Stadium
Sports
Analytics
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.
ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19
pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints,
Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type
& applications
Chapter 9: Current and Future Trends
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