Sports Technology Market to Worth USD 61.40 Billion by 2030 | Skyquest Technology
Sports technology market is segmented on the basis of technology, sports. By technology, the market is segmented into devices, smart stadium, analytics & statistics and esports. By sports, the market is segmented into American football/rugby, baseball, basketball, cricket, golf, ice hockey, tennis, soccer, and others- Industry forecast 2023-2030
Westford,USA, Jan. 19, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the global sports technology market is experiencing a rapid and remarkable growth trajectory, representing an industry that leverages cutting-edge technology to elevate multiple facets of sports. From optimizing player performance and safeguarding athlete health to revolutionizing fan engagement and enriching the overall fan experience, the convergence of sports and technology has become a driving force in modern sports.
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*Browse in-depth TOC on the "Sports Technology Market" *
· Pages - 157
· Tables - 69
· Figures – 75
The sports technology market is experiencing a transformative shift as it increasingly embraces data analytics to elevate various facets of the game. This evolution encompasses leveraging data to enhance player performance, closely monitor their health and fitness, and make well-informed decisions regarding game strategy.
*Report Scope & Segmentation: *
*Attributes* *Details*
Market Size in 2022 USD 14.57 Billion
2030 Value Projection USD 61.40 Billion
CAGR 19.7%
Forecast Period 2023-2030
Segments Covered · Technology
· Sports
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
*Prominent Players in the Sports Technology Market*
· SAP SE
· Catapult Sports Pty Ltd
· Stats Perform
· Opta Sports
· Sportradar AG
· Deltatre
· Hawk-Eye Innovations Ltd
· ChyronHego Corporation
· PlayerMaker
· Genius Sports Limited
· Kinexon GmbH
· Zebra Technologies Corporation
· Exos
· STRIVR Labs, Inc.
· Pixellot Ltd.
· ShotTracker
· PlaySight Interactive Ltd.
· Spiideo AB
· Vixlet LLC
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*Analytics and Statistics Segment is Expected to Grow in the Market Due to Encompassing Vital Functions *
Analytics and statistics segment is poised to exhibit the second-highest CAGR during the forecast period, underscoring its pivotal role in the sports technology landscape in the sports technology market. Digital analytics has found diverse applications within the sports world, encompassing vital functions such as team management and player performance analysis.
The markets in Europe have firmly established themselves as a dominant force in the global sports technology market, commanding a substantial share of approximately 30%. This regional supremacy is poised to endure throughout the forecast period, underpinned by renowned and widely-followed sports leagues, including the Premier League, English Football League, and LaLiga.
*Soccer Segment is Expected to Dominate the Market Due to Soccer's Global Appeal Continues to Surge*
Soccer has undeniably taken center stage in the sports technology market, boasting the largest revenue share. This dominance is anticipated to persist and even accelerate as soccer's global appeal continues to surge. Projections indicate a robust CAGR of over 20% in the forthcoming years, particularly in countries such as the United States, Russia, and Mexico.
Regional markets in the Middle East and Africa are poised for substantial expansion in the sports technology sector, projecting the second-highest CAGR of over 20% throughout the forecast period. Particularly, Dubai stands out as a key player in this growth story, with plans to host a myriad of prominent sports events, including the Al Gaffal long-distance race and the Emirates T20 League in 2022.
A comprehensive analysis of the major players in the sports technology market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
*Key Developments in the Sports Technology Market*
· In 2022, Apple unveiled its highly anticipated smartwatch upgrade, the Apple Watch Series 8. This latest iteration introduced several cutting-edge health capabilities, notably a temperature sensor tailored to women's health needs and an innovative Crash Detection feature designed to respond to car accidents. Furthermore, the Apple Watch Series 8 impressed users with its impressive battery life, lasting up to 18 hours on a single charge, ensuring uninterrupted daily use.
· In 2022, Fitbit entered the fray by releasing two new smartwatches, the Versa 4 and Sense 2. These wearables were designed to cater to users' holistic well-being, boasting various features to manage sleep, stress, and fitness.
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*Key Questions Answered in Sports Technology Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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