The report size is expected to reach USD 40.22 Billion by 2028 and register a robust double-digit CAGR over the forecast period. 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.
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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. Rising interest in franchises to capitalize on mobile technology to improve viewer experience among fans in their homes and for spectators in stands at stadiums is another key factor driving adoption of smart technologies in the sports industry.
The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Sports Technology market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
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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