DUBLIN--(BUSINESS WIRE)--The "Global Sports Technology Market Size, Trends and Growth Opportunity, By Component, By Sports, By End-User, By Technology, By Application, By Region and Forecast to 2027." report has been added to ResearchAndMarkets.com's offering.
Global Sports Technology Market Size, Trends and Growth Opportunity, By Component, By Sports, By End-User, By Technology, By Application, By Region and forecast till 2027.
Global Sports Technology Market
Global Sports Technology Market was valued at US$ 18.36 Bn in 2021 and is anticipated to reach at US$ 45.2 Bn by 2027 at a CAGR of 12.06% from 2022-2027.
Sport technology is a specific kind of tool for achieving human objectives and interests in sport. Such technology encompasses anything from body mechanics to conventional sports equipment used by competitors to devices, drugs, and tactics utilised outside of competition settings to increase performance. Technology has greatly improved athletic potential in comparison to whiteboards and practise reviews.
Sports training is being revolutionised by technology, which includes live-tracking performances, improving athletic moves, fostering communication, and essentially eradicating injuries.
Sports technology links the playing characteristics of athletic equipment to product design concepts by combining the best aspects of engineering science, measurement and analysis, and sports science. It enables greater performance and simplicity of use in sporting goods by offering up-to-date knowledge about manufacturing techniques and materials.
Market Drivers
Over the past ten years, analytics has been increasingly popular, particularly in the sports business. Sports analytics are being used by athletes and businesses to effective improvement, understand data, and engage fans and customers more successfully. This is due to advancements and increased competition in sports. The market for sports technology is expected to grow as demand for a variety of cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), machine learning (ML), big data analytics, computer vision, and improved wireless connection increases. Additionally, AI-enabled predictive analysis can be used to improve an athlete's physical condition and performance.
When playing games, AI can help identify trends in tactics, methods, and deficiencies. Because it can make sense of the massive amounts of data produced and has the potential to make reasonably accurate forecasts, AI analytics technology is being used more and more in sports statistics. Predictive models for virtual and augmented reality have indeed been created thanks to advancements in the field of predictive analytics. These models may calculate the likelihood of a sports team winning or losing and evaluate the performance of individual players. Predictive analytics usage is growing, which presents the global sports technology industry with enormous prospects.
Market Restraints
The high initial costs, budgetary restrictions, and a lack of knowledge about the advantages of sports analytics solutions are restraining factors for market growth.
Regional Analysis
A rise in GDP investment for sports in nations like China and India is expected to fuel the growth of the sports technology market in the Asia Pacific region during the forecast period. These economies have participated more actively in sports like baseball, basketball, and cricket. Due to the rising use of cutting-edge technology in a variety of sports in nations like the U.K., Germany, and France, the sports technology market is experiencing considerable expansion in Europe. This growth is likely to continue during the forecast period.
Market Taxonomy
By Component
- Wearable Devices & Sports Equipment
- Software
On-premise Cloud
- Services
Training & Implementation Support & Maintenance Managed/Outsourced Services
By Sports
- Baseball
- Basketball
- Cricket
- Cycling
- Football
- Golf
- Rugby
- Others (Swimming, Badminton, Tennis, and Athletics).
By End-User
- Coaches
- Clubs
- Leagues
- Sports Associations
- Others (Athletes and Sports Person).
By Technology
- Introduction
- Device
- Smart Stadium
- eSports
- Sports Analytics.
By Application
- Active
Tracking Decision Making
- Passive
Analytics and Statistics Tactics and Simulation Training Game Performance Analysis Team Analysis & Management Injury and Health Analysis
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Sports Technology Market Outlook
5 Global Sports Technology Market, By Component
6 Global Sports Technology Market, By Sports
7 Global Sports Technology Market, By End-User
8 Global Sports Technology Market, By Technology
9 Global Sports Technology Market, By Application
10 Global Sports Technology Market, By Region
11 North America Sports Technology Market Analysis and Forecast (2022-2027)
12 Europe Sports Technology Market Analysis and Forecast (2022-2027)
13 Asia Pacific Sports Technology Market Analysis and Forecast (2022-2027)
14 Latin America Sports Technology Market Analysis and Forecast (2022-2027)
15 Middle East Sports Technology Market Analysis and Forecast (2022-2027)
16 Competitive Analysis
17 Company Profiles
Companies Mentioned
- IBM
- Ericsson
- Cisco
- Fujitsu
- SAP
- Oracle
- Catapult Sports
- NEC
- Sharp
- Samsung
- Apple.
For more information about this report visit https://www.researchandmarkets.com/r/9fzwzp
