Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Global Sports Technology Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
Global sports technology market attained a value of around USD 18,225.4 million in 2022. Aided by the increasing interest in sports by people worldwide, the market is projected to further grow at a CAGR of 11.21% between 2023 and 2028, to reach a value of USD 33,214.3 million by 2028.
Sports technology refers to the specific technologies that are aimed at enhancing the overall performance of humans in sports using science, data knowledge, and several other devices. These technologies are used for purposes such as performance enhancement and to aid coaches in pinpointing even the smallest mistakes not detectable by bare eyes.
Moreover, sports technologies are also widely used by a number of people all across the globe to keep a track of their health and fitness during sports.
Growing bent towards sports by both the viewers and players all across the globe is driving the growth of the sports technology market rapidly. Rising number of viewers along with digital transformations in stadiums and arenas is expected to further fuel the requirement of technology in the sports industry.
Several organisations are investing in the development of advance technology which is helps in tracking the performance of the players and also in interacting with the fans, thereby, contributing to the growth of the overall sports technology market.
Artificial Intelligence (AI) is a major factor that is helping in the development of technology in the sports industry as they support management as well as coaching by monitoring health and safety of players.
AI has made early detection and treatment of both mental and physical health possible, further fuelling its demand from consumers globally. They usually function with the help of wearable gadgets such as watch or heart rate monitor, among other devices.
Rising number of sports events, both offline as well as online, and growing audience engagement are further contributing to the growth of the sports technology market.
Wearable device manufacturers are working on developing new features and insightful data to improve the growth of the market globally. Smart stadiums for various sports such as basketball, badminton, and tennis, are growing rapidly and are considered to be the future of the sports industry.
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global sports technology market companies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 151 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $19528.5 Million |
| Forecasted Market Value (USD) by 2028 | $33214.3 Million |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
Some of the major key players explored in the report:
- IBM Corporation
- Fujitsu Limited
- SAP SE
- Oracle Corporation
- NEC Corporation
- Fitbit LLC
- Apple Inc
- Garmin Ltd.
- Sony Corporation
- Cisco Systems, Inc
- Samsung Electronics Co., Ltd
- Huawei Technologies Co., Ltd
- Panasonic Corporation
- Catapult Group International Ltd
- Zebra Technologies Corporation
- Stats Perform
- Infosys Limited
- MicroTeam
- Pixellot Ltd
- Miro AI
Market Segmentation
Market Breakup by Sport Type
- Indoor Sports
- Outdoor Sports
Market Segmentation by Technology
- Artificial Intelligence/Machine Learning (AI/ML)
- Internet of Things (IoT)
- Augmented Reality/Virtual Reality (AR/VR)
Market Breakup by Sports
- Soccer
- Baseball
- Basketball
- Hockey
- American Football/Rugby
- Tennis
- Cricket
- Golf
- E-Sports
- Others
Market Breakup by Component
- Software
- On-Premise
- Cloud
- Wearable Devices and Sports Equipment
- Services
Market Breakup by Application
- Tracking
- Decision Making and Team Analysis and Management
- Analytics and Statistics
- Tactics and Simulation
- Training
- Game Performance Analysis and Injury and Health Analysis
Market Breakup by End Use
- Coaches
- Clubs
- Leagues
- Sports Associations
- Others
For more information about this report visit https://www.researchandmarkets.com/r/kbvuhl
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