Sports Technology Market is segmented By Technology (Smart Stadium, Device, Sports Analytics, Esports) and By Sports (Baseball, Soccer, Ice Hockey, Basketball, Tennis, Rugby/American Football, Esports, Golf, Cricket, Others (Cycling, Swimming)) and Region (United States, Canada, Mexico, South America, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, South Africa, Rest of World)
Sports Technology is a broad term that refers to the technology used to improve sports knowledge and qualifications through developments and inventions. Besides this, sports technology enhances fan engagement by altering how sports material is viewed. The increased use of audience engagement strategies by leagues worldwide is expected to be a significant driver driving the future years growth. The Sports Technology market is expected to develop at a rapid pace during the projected period, owing to the global development of the sports sector. Additionally, the growing popularity of eSports has boosted the overall size of the sports industry. It is projected to have a sizable influence on the sports technology industry in the future years.
Sports Technology Market size was estimated at $21.90 billion in 2022 and is expected to reach $79.77 billion by 2032, growing at a CAGR of 13.8% during the forecast period of 2022 to 2032.
High tech stadium technology contributes to improving the audience experience, increased income, and increased stadium security. The system consists of many sensors, cameras, and digital signage that provides real-time information on available parking spaces, ticketing lines, food concessions, and other pertinent information. Adopting creative IoT-based solutions may be especially beneficial for creating stadiums with interactive seats, secure WiFi connections, and high-definition television screens for live games.
The category of intelligent stadiums has been segmented into software and services. In recent years, the software category will generate the most revenue due to the growing need to build automation software for energy-efficient and safe stadiums. The software market is likely to be driven by factors such as increased environmental monitoring, asset management, and sanitation and hygiene management within stadiums. An industrial automation systems key components are office automation, ticket administration, and crowd management.
Sports Technology Market Growth and Trend
The combined effect of technology and games is facilitating data-assisted sports knowledge and igniting a new era of sports viewing, health tracking, and gymnasium life. Several factors driving the markets growth include a noticeable increase in viewer commitment, smart garments embedded with wearable sensors and monitoring and evaluation devices, and better and higher definition video requirements.
The markets expansion may be ascribed to a significant increase in audience engagement, an increased need for data-driven choices and operations, and an increase in both online and offline sporting events. Major sports organizations have embraced new technologies in recent years, including sports data analytics, intelligent stadiums, wearable gadgets, and digital signs, to improve team performance, engage spectators, and create intelligent infrastructures.
The global proliferation of sports leagues presents significant commercial potential in infrastructure construction and advanced technology services. Professional sports leagues and associations progressively embrace new and innovative technology, such as intelligent stadiums, data analytics, wearables, and digital signs. For example, FIFA permitted trackers to measure players performance during live games in 2018. Additionally, the International Cricket Council (ICC) has embraced various technology, including Spidercam, DRS, Snickometer, and Hawkeye.
Sports Technology Market Segmentation
The sports technology market is segmented by technology and sports. Based on technology, the market consists of smart stadium, device, sports analytics, esports. Based on sports, the market is divided into baseball, soccer, ice hockey, basketball, tennis, rugby/American football, esports, golf, cricket, others (cycling, swimming).
Sports Technology Market Country Analysis
North America is by far the most progressed region in terms of technology and has the worlds largest industry for sports technology. Numerous stadium owners, sports teams, athletes, and event organizers around North America are embracing cutting-edge sports technology to revolutionize their operations digitally. The increased requirement for network monitoring and the high data consumption associated with matches and tournaments are compelling event organizers to embrace solutions that effectively decrease data consumption while maintaining a positive spectator experience. Asia-Pacific (APAC) is predicted to provide a good ground foundation for the market because of the widespread use of cloud computing and modern technology in the Asia-Pacific sector, which has developed with courtiers coming to prominence as a sports leader.
Sports Technology Market Share and Competition
The major players operating in the global sports technology market are Tent, GSoccerin, Cisco, SAP, Modern Times Group, Apple, Sharp, Oracle, Activision Blizzard, IBM, Sony, Fujitsu, Panasonic, Ericsson, CJ Corporation, Fitbit, Samsung, LG, and NEC.
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Industry Segmentation and Revenue Breakdown
Technology Analysis (Revenue, USD Million, 2022 - 2032)
• Smart Stadium
• Sports Analytics
Sports Analysis (Revenue, USD Million, 2022 - 2032)
• Ice Hockey
• Rugby/American Football
• Others (Cycling, Swimming)
Region Analysis (Revenue, USD Million, 2022 - 2032)
• North America
o United States
• South America
o United Kingdom
• Asia Pacific
o South Korea
• Middle East
o GCC C ountries
o South Korea
• South Africa
• Rest of World
Sports Technology Market Companies
• Modern Times Group
• Activision Blizzard
• CJ Corporation
• United States Sports Technology Industry Research Report
• Europe Sports Technology Industry Research Report
• Asia Pacific Sports Technology Industry Research Report
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