Sports Technology Global Market Report 2024

Description

“Sports Technology Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on sports technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for sports technology? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The sports technology market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Sports Type: Baseball; Basketball; Cricket; Ice Hockey; Tennis; Soccer; Rugby
2) By Technology: Device; Smart Stadium; Esports; Sports Analytics
3) By End-User: Sports Associations; Clubs; Leagues; Athletes; Coaches
Companies Mentioned: Apple Inc.; ChyronHego Corporation; Cisco Systems Inc.; HCL Technologies Limited; Infosys Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Sports technology encompasses human-created technologies aimed at advancing interests or goals within a particular sport or sports-related activities. It merges the functional aspects of athletic equipment with principles of product design, integrating engineering science, measurement, analysis, and sports science. This integration facilitates the improvement of sporting goods by utilizing current knowledge of production techniques and materials to enhance their functionality and performance.

Major sports types involved in sports technology include baseball, basketball, cricket, ice hockey, tennis, soccer, and rugby. For instance, baseball is a game involving a bat, ball, and gloves played between two teams of nine players each on a field with four white bases arranged in a diamond-shaped layout. Various technologies play a role in sports technology, such as specialized devices, smart stadium technologies, e-sports, and sports analytics. These technologies cater to a range of end users within sports associations, including clubs, leagues, athletes, and coaches, aiming to improve performance, training methodologies, and overall engagement in sports-related activities.

The sports technology market research report is one of a series of new reports from The Business Research Company that provides sports technology market statistics, including sports technology industry global market size, regional shares, competitors with a sports technology market share, detailed sports technology market segments, market trends and opportunities, and any further data you may need to thrive in the sports technology industry. This sports technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sports technology market size has grown rapidly in recent years. It will grow from $17.93 billion in 2023 to $21.17 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth observed during the historical period can be attributed to several factors, including the globalization of sports which broadens their reach and audience, advancements in sports broadcasting technologies that enhance accessibility and coverage, the emergence and implementation of smart stadiums integrating technology into sporting venues, innovations in sports equipment that improve performance, and an increasing focus on athlete safety measures driving advancements in sports technology and gear.

The sports technology market size is expected to see rapid growth in the next few years. It will grow to $38.87 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The anticipated growth in the forecast period is expected to be driven by various factors, notably the development of smart sportswear incorporating technology for athletes, improvements in fan engagement platforms to enhance interaction, the continued development of infrastructure for e-sports, regulatory changes empowering athletes, and a growing emphasis on sustainability within sports facilities. Key trends projected in the forecast period encompass advancements in biomechanics and motion analysis for performance enhancement, the evolution of digital broadcasting and streaming technologies for wider sports coverage, the integration of robotics in athlete training programs, increased integration of social media platforms within the sports sphere, the implementation of athlete tracking systems for performance evaluation, and the integration of e-sports and gaming within the broader sports landscape.

The increasing prevalence of eSports is a substantial driver for the growth of the sports technology market. eSports, denoting competitive video gaming events on organized platforms, mirrors the experience of traditional sporting events for spectators. Sports technology plays a pivotal role in eSports by digitally broadcasting video game competitions, enhancing internet speed and connectivity, and optimizing graphics for an immersive spectator experience. A case in point is the Free Fire World Series (FFWS) Singapore in May 2021, where the eSports event achieved a peak viewership of 5.41 million, marking a 168% increase compared to the previous FFWS Rio event with 3.9 million peak viewers. This growth in eSports penetration is poised to drive the sports technology market.

The surge in sports activities is expected to fuel the expansion of the sports technology market. Sports activities encompass diverse physical pursuits enjoyed by individuals of all ages, contributing to physical fitness, skill development, and overall well-being. Sports technology, utilizing data analytics, wearable devices, and performance tracking systems, plays a pivotal role in enhancing player and team performance. According to the Department of Health and Aged Care in January 2023, over 90% of adults in Australia participated in sports, with three million youngsters and almost 13 million adults engaging in athletics annually. This widespread participation in sports activities is a key factor driving the growth of the sports technology market.

Technological advancement stands out as a prominent trend in the sports technology market. Major companies in this sector are actively developing new technologies to elevate gameplay, enhance fan engagement, and optimize player performance. An illustrative example is the collaboration between HCL Technologies Limited, an India-based technology company, and Cricket Australia in June 2021. Together, they developed a digital innovation platform supporting data-driven approaches to boost the involvement of cricket players, fans, and partners. This initiative, utilizing Azure as a platform sandbox, aims to foster cricket fan unity and enthusiasm. The platform contributes significantly to the sport of cricket, enabling Cricket Australia to enhance the on- and off-field performance of the Australian National Team. The HCL - CA TechJam, accessible to various stakeholders, showcases the commitment to turning cricket into a professional, multi-touchpoint sport, with over 700,000 registered participants.

Prominent companies within the sports technology market are integrating innovative technological solutions, specifically leveraging virtual reality-based tools, to secure a competitive advantage. Virtual reality (VR)-based sports technology tools utilize VR technology to enhance sports training and decision-making processes. This technology generates a simulated environment, enabling athletes to immerse themselves in game situations and scenarios, thereby providing a more interactive and immersive training experience. A notable example is Meta, a US-based technology company, which, in October 2022, introduced the XTADIUM app on Meta Quest. This application offers 180-degree VR footage in up to 8K video resolution, delivering an unparalleled closeness to the action. XTADIUM allows users to track games with real-time statistical overlays, choose from eight different camera angles, and even host private watch parties for friends or enjoy the event solo.

In September 2021, WHOOP, a US-based wearable technology company, made a strategic acquisition by purchasing PUSH for an undisclosed amount. This acquisition expands WHOOP's portfolio to include wearable sports technology, enhancing its offerings in athlete performance analysis. PUSH, a US-based sports technology company, specializes in wearable technology that empowers athletes to gauge and optimize their performance. This strategic move by WHOOP reinforces its position in the sports technology market, providing a comprehensive suite of offerings to athletes seeking advanced performance analytics through wearable devices.

Major companies operating in the sports technology market report are Apple Inc., ChyronHego Corporation, Cisco Systems Inc., HCL Technologies Limited, Infosys Limited, Modern Times Group MTG, Oracle, Panasonic Corporation, SAP SE, Sony Corporation, Stats LLC, Telefonaktiebolaget LM Ericsson, Agile Sports Technologies Inc., Athlete Intelligence, Catapult Group International Ltd., Chetu Inc., Epicor Software Corporation, Firstbeat Technologies Oy, International Business Machines Corporation, Jonas Club Software, Genius Sports, VICIS, Stack Sports, Playermaker, Strava, Nextiles, Proteus, ShotTracker, Zebra Technologies, Hawk-Eye Innovations, Sportradar, Kinexon, KINEXON Sports & Media GmbH, PlaySight Interactive, Sparta Science, MyVert, Blast Motion, CoachMePlus, Krossover Intelligence, Hudl, Coach Logic, SPT Sports, Fusion Sport, Kinduct Technologies, Kitman Labs .

North America was the largest region in the sports technology market in 2023. The regions covered in the sports technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the sports technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The sports technology market includes revenues earned by providing technological features for sports and sports persons such as wearable fitness trackers, performance analysis software, virtual reality training systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11363

1. Executive Summary

2. Sports Technology Market Characteristics

3. Sports Technology Market Trends And Strategies

4. Sports Technology Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Sports Technology Market Size and Growth

5.1. Global Sports Technology Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Sports Technology Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Sports Technology Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Sports Technology Market Segmentation

6.1. Global Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Baseball
Basketball
Cricket
Ice Hockey
Tennis
Soccer
Rugby
6.2. Global Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Device
Smart Stadium
Esports
Sports Analytics
6.3. Global Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Sports Associations
Clubs
Leagues
Athletes
Coaches

7. Sports Technology Market Regional And Country Analysis

7.1. Global Sports Technology Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Sports Technology Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Sports Technology Market

8.1. Asia-Pacific Sports Technology Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Sports Technology Market

9.1. China Sports Technology Market Overview
9.2. China Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Sports Technology Market

10.1. India Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Sports Technology Market

11.1. Japan Sports Technology Market Overview
11.2. Japan Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Sports Technology Market

12.1. Australia Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Sports Technology Market

13.1. Indonesia Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Sports Technology Market

14.1. South Korea Sports Technology Market Overview
14.2. South Korea Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Sports Technology Market

15.1. Western Europe Sports Technology Market Overview
15.2. Western Europe Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Sports Technology Market

16.1. UK Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Sports Technology Market

17.1. Germany Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Sports Technology Market

18.1. France Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Sports Technology Market

19.1. Italy Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Sports Technology Market

20.1. Spain Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Sports Technology Market

21.1. Eastern Europe Sports Technology Market Overview
21.2. Eastern Europe Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Sports Technology Market

22.1. Russia Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Sports Technology Market

23.1. North America Sports Technology Market Overview
23.2. North America Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Sports Technology Market

24.1. USA Sports Technology Market Overview
24.2. USA Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Sports Technology Market

25.1. Canada Sports Technology Market Overview
25.2. Canada Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Sports Technology Market

26.1. South America Sports Technology Market Overview
26.2. South America Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Sports Technology Market

27.1. Brazil Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Sports Technology Market

28.1. Middle East Sports Technology Market Overview
28.2. Middle East Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Sports Technology Market

29.1. Africa Sports Technology Market Overview
29.2. Africa Sports Technology Market, Segmentation By Sports Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Sports Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Sports Technology Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Sports Technology Market Competitive Landscape And Company Profiles

30.1. Sports Technology Market Competitive Landscape
30.2. Sports Technology Market Company Profiles
- 30.2.1. Apple Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. ChyronHego Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Cisco Systems Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. HCL Technologies Limited
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Infosys Limited
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Sports Technology Market Competitive Benchmarking

32. Global Sports Technology Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Sports Technology Market

34. Sports Technology Market Future Outlook and Potential Analysis

34.1 Sports Technology Market In 2028 - Countries Offering Most New Opportunities
34.2 Sports Technology Market In 2028 - Segments Offering Most New Opportunities
34.3 Sports Technology Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer