PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627852
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627852
The Sports Technology market is estimated to reach US$87.209 billion by 2030 from US$45.623 billion in 2025, growing at a CAGR of 13.84%.
Sports technology involves the use and integration of technologies, like software or physical devices, that help to improve and measure the performance of athletics. Broadcasters also use these technologies to boost the viewing experience of the global audience, which in return can boost the revenue of the sports sector.
The increasing revenue generation in the sports sector is among the major factors propelling the market forward. Federation Internationale de Football Association or FIFA, in its annual report, stated that in 2023, the organization's total revenue amounted to about US$1,169 million, in which about US$267.220 million was earned through television broadcasting rights and US$455.916 million was accounted for marketing rights. With the increasing revenue of the sports sector globally, the investments in technology to improve the viewership experience and accuracy of the game will expand significantly.
The growth of sports technology is attributed to the increasing importance of utilizing integrated technologies to enhance fan engagement at sporting events. Moreover, businesses in the smart stadium sector should see a large increase in opportunity due to the developing sports league culture in developed and emerging economies. Additionally, because 4K digital sign displays with embedded software and media players give customers an affordable Ultra HD digital signage solution, demand for these displays is expected to increase.
Sports technology market growth drivers
One of the major factors driving the sports technology market's growth globally is the increasing popularity of sports. Leagues and sporting events are among the most common and most watched entertainment sources, with many events like the FIFA World Cup, Cricket World Cup, Olympics, and NFL attracting huge amounts of global viewership. With the rising sports viewership for certain types, like soccer, cricket, baseball, and tennis, among many others, the investment by the organizing committees increases, pushing the need for advanced technologies in the industry.
The global viewership of sports events grew massively with the introduction of live-streaming technologies. International Federation of Association Football (FIFA), in its report, stated that during the 2022 FIFA World Cup, the final game attracted a total of 24.08 million average audience in France, whereas about 26 million audience were attracted in the USA. In Pan-Middle East & North Africa, the audience share reached 242.79 million.
Sports technology market Geographical outlook
The booming sports industry has established new opportunities for future-oriented technologies such as smart stadiums, crowd sentiment analysis, and eSports in North America. Country-wise, the regional market is analyzed into the United States, Canada, and Mexico. The US will account for a considerable market share fuelled by the ongoing investment to improve sports analytics.
As one of the major economies globally, the United States stands at the forefront of innovations and investments to bolster the same. The economy is emphasizing optimizing the usage of advanced solutions in various sectors, which has provided a new framework for modern technologies such as Artificial Intelligence, VR & AR to bolster advanced analytics.
The sports culture in the economy is booming, fueled by the changing competitive landscape, which has propelled the athlete transition to meet new demands. Moreover, the growing prevalence of sports injuries has further augmented the demand for modern solutions that would assist in tracking and analyzing the player's performance, thereby preventing the risk of overload.
According to America's National Safety Council, in 2023, sports-related injuries witnessed a 2% growth in 2022, with basketball-related injuries signifying a 6.05% growth. Likewise, the same source also specified that people aged between 15 and 24 years had the highest injury rate, with 90% of the injury victims being treated in an emergency.
Moreover, technological breakthroughs such as wearables and digital signage are also improving a player's performance, as they are equipped with advanced sensors that bolster advanced analytics. Furthermore, government-backed investments and schemes to bolster AI in the sports sector, followed by investments in smart stadiums are also additional driving factors for the regional market growth.
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