LONDON--(BUSINESS WIRE)--The global smart sports equipment market is expected to post a CAGR of over 37% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growing demand for sports analytics. Currently, teams, coaches, and sports associations are increasingly opting for smart sports equipment and various sports analytics platforms. With the help of such platforms, team managers can do predictive analyses based on data related to players and their rankings, train, analyze play-by-play effectiveness for real-time competitive intelligence, and anticipate player safety issues to prevent injuries. Such factors are expected to drive the global smart sports equipment market positively during the forecast period.
As per Technavio, the increasing demand for robotics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global smart sports equipment market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global smart sports equipment market: Increasing demand for robotics
In the past few years, the field of robotics has gained popularity in various industries. Owing to its rising popularity, the concept of robotics is gaining prominence in the sports industry, with team coaches, sports clubs, and sports associations increasingly emphasizing the use of robotics to enhance the training process and improve player performance. For instance, to remove constraint and stimulate actual players in competitive matches, American football coaches across the US are increasingly opting for Mobile Virtual Players (MVPs), offered by mobile virtual player that replicate the size, weight, shape, speed and human motion of an opponent or training partner and are remotely controlled using a remote controller. Therefore, with such advances in technology, the market for global smart sports equipment is expected to show a positive outlook during the forecast period.
“Apart from the increasing demand for robotics, increased emphasis on IoT, increased demand for wearable devices and fitness trackers, the growing number of partnerships and collaborations in the sports industry, and the increased demand for neurostimulation are some major aspects that are expected to boost the growth of the global smart sports equipment market,” says a senior analyst at Technavio.
Global smart sports equipment market: Segmentation analysis
This market research report segments the global smart sports equipment market by product (ball sports, fitness sports, and other sports) and geographical regions (Europe, APAC, North America, MEA, and South America).
The European region led the market in 2018, followed by APAC, North America, MEA, and South America, respectively. However, during the forecast period, the North American region is expected to register the highest incremental growth due to the presence of various sports organizations, associations, and sports clubs, which emphasizes on the usage of IoT technologies and connected equipment.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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