PUBLISHER: The Business Research Company | PRODUCT CODE: 1664731
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664731
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 $20.73 billion in 2024 to $24.23 billion in 2025 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to globalization of sports, enhancements in sports broadcasting, emergence of smart stadiums, innovation in sports equipment, growing focus on athlete safety.
The sports technology market size is expected to see rapid growth in the next few years. It will grow to $45.48 billion in 2029 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to development of smart sportswear, enhancements in fan engagement platforms, e-sports infrastructure development, regulatory changes and athlete empowerment, sustainability in sports facilities. Major trends in the forecast period include biomechanics and motion analysis, digital broadcasting and streaming, robotics in training, social media integration, athlete tracking systems, e-sports and gaming integration.
The increasing penetration of eSports is playing a significant role in the growth of the sports technology market. eSports refers to organized video gaming competitions that are broadcast to spectators, simulating the experience of attending a professional sporting event. Sports technology is utilized in eSports to enhance the digital broadcasting of these competitions, leveraging improved internet speed and connectivity to reach a larger audience while providing superior graphics for an enhanced viewing experience. For example, in May 2024, a report from Esports News UK, a UK-based online publication focused on esports updates, revealed that revenues from gaming events and venues in the UK skyrocketed by 140% year-on-year, totaling £10.3 million ($11.05 million) in 2023, up from £4.35 million ($4.66 million) in 2022. Thus, the growing popularity of eSports is expected to propel the sports technology market forward.
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.
Major companies in the sports technology market are increasingly focused on developing advanced performance-tracking devices to enhance gameplay, engage fans, and improve player performance. These devices are wearable gadgets designed to monitor and analyze an individual's physical activities, tracking various metrics. They enable users to evaluate performance, set goals, and optimize training regimens by providing real-time feedback. For instance, in June 2024, STATSports Group Limited, a UK-based software company, launched the APEX device. This cutting-edge athlete performance-tracking tool incorporates advanced technologies such as augmented 18Hz GPS and a 600Hz accelerometer, delivering exceptional accuracy. It can calculate over 50 metrics in real-time, supplying teams with live data that closely correlates with post-session downloads. The innovative MAPPS technology allows for centimeter-level live data streaming in various environments, including indoors and stadiums. Developed based on client feedback, APEX is poised for adoption across major sporting competitions like the NFL, NBA, and English Premier League, enhancing the monitoring of player performance.
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 October 2024, Sony Corporation, a Japan-based company operating in the Entertainment, Technology & Services (ET&S) sector, acquired KinaTrax, Inc. for an undisclosed sum. This strategic acquisition is intended to enhance the application of sports data, enabling deeper insights into player performance and biomechanics. KinaTrax, Inc. is a US-based provider of motion capture technology specifically designed for the sports industry.
Major companies operating in the sports technology market include Apple Inc., ChyronHego Corporation, Cisco Systems Inc., HCL Technologies Limited, Infosys Limited, Oracle, Panasonic Corporation, SAP SE, Sony Corporation, Stats LLC, Telefonaktiebolaget LM Ericsson, Agile Sports Technologies Inc., Athlete Intelligence, Catapult Group International Ltd., Chetu Inc., Firstbeat Technologies Oy, International Business Machines Corporation, Genius Sports, VICIS, Stack Sports, Playermaker, Strava, Nextiles, Proteus, ShotTracker, Zebra Technologies, Hawk-Eye Innovations, Sportradar, Kinexon, 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 2024. 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.
Sports Technology Global Market Report 2025 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.
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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.