Authored By: Sarah
11 Jul 2024

 Sports Technology Market to grow by $ 37.85 billion between 2024-2028

According to a research report “ Sports Technology Market” by End-user (Sports association, Clubs, leagues) Technology (Artificial intelligence/machine learning, Internet of Things (IoT), Augmented reality/virtual reality) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by $ 37.85 billion at a CAGR of  23.96% during the forecast period.
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Browse market data tables, figures, and in-depth TOC on “Sports Technology Market” by End-user (Sports association, Clubs, leagues) Technology (Artificial intelligence/machine learning, Internet of Things (IoT), Augmented reality/virtual reality) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028.

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By End-user, the Sports association segment is projected to dominate the market size in 2024.

In the dynamic sports technology market, AI plays a pivotal role by automating tasks, enhancing performance, and facilitating informed decision-making. Leveraging data from wearables, games equipment, videos, images, speech, and text, AI applications employ machine and deep learning algorithms to analyze subject matter expertise. By streamlining decision-making processes for coaches, players, and management, AI ultimately drives operational efficiency and competitive advantage.

By Technology, Artificial intelligence/machine learning  segment is expected to hold the largest market size for the year 2024.

In the dynamic sports industry, sports technology solutions, such as Sports Plus, play a pivotal role in streamlining operations for sports associations. These solutions facilitate the dissemination of program information to member clubs and individuals, venue selection, registration form generation, and member activity overviews. Furthermore, sports technology is utilized for sports analytics and player ranking publication. Additionally, it is employed for event promotion and audience engagement with the latest news. Consequently, the numerous advantages of sports technology will fuel its demand among sports associations, thereby propelling the expansion of this market segment and ultimately driving the growth of the global sports technology market throughout the forecast period.

Europe is forecasted to hold the largest market size by region in 2024.

The European region dominates the global sports technology market in 2023, accounting for the largest share. Despite slower growth compared to the market average, Europe's position as the leading segment is secure. Key drivers include the surge in smart wearable adoption and the increasing demand for IoT-enabled connected fitness devices in Western and Central European countries like the UK, Germany, Spain, Italy, and Finland.

The Sports Technology Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Active Network LLC
  • Agile Sports Technologies Inc.
  • Athlete Intelligence
  • CAM Solutions Ltd.
  • Catapult Group International Ltd.
  • Chetu Inc.
  • Cisco Systems Inc.
  • Epicor Software Corp.
  • Garmin Ltd.
  • International Business Machines Corp.
  • Jonas Club Software
  • Kinexon GmbH
  • Orreco
  • PlaySight Interactive Ltd.
  • Salesforce Inc.
  • Samsung Electronics Co. Ltd.
  • SAP SE
  • SPay Inc.
  • Sportradar Group AG
  • Upper Hand Inc.
  • Stats Perform group of companies
.

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Research Analysis Overview

The Sports Technology Market encompasses various innovations that leverage Artificial Intelligence (AI), Data Analytics, and Wearable Devices to enhance Athletic Performance in Golf, Tennis, Swimming, and other Sports Activities. Opta Services and Esports Technology play a significant role in Data Analytics, providing valuable insights for Sports Events and Entertainment Activities. Stadiums and Arenas/Stadiums are transforming with Digital Transformation, integrating High-Density Wi-Fi, Digital Signage, and Location-Based Services to offer immersive experiences for fans. VR (Virtual Reality) and Unreal Engine technologies bring a new dimension to Indoor Sports Activities and Games like Chess and Badminton. Sports Technology extends beyond traditional sports, with Wearable Technology and Esports gaining popularity. These advancements contribute to the overall growth of the Sports Technology Market, revolutionizing the way we engage with Sports and Entertainment.

Market Research Overview

The Sports Technology Market encompasses a range of innovative solutions that leverage Machine Learning (ML) and Artificial Intelligence (AI) to enhance athletic performance and fan engagement in various sports, including Golf, Tennis, Swimming, Chess, Badminton, Rugby, and Cricket, among others. This market includes Smart Cameras for Video Analysis, Opta Vision for Off-field and On-field Data Analytics, and Integrated Security Systems for Stadium Safety. Sports Technology extends beyond Outdoor Sports to Indoor Sports Activities, with Digital Fan-Engagement Platforms, Streaming Platforms, Virtual Entertainment, and Esports Technology providing Virtual Reality (VR) experiences for fans. Wearable Devices and Health Assessment Systems offer real-time data interpretation for Athlete Performance Analysis and Team Performance Analysis. Moreover, Sports Technology Market incorporates Software and Hardware advancements, such as Unreal Engine and VR, Digital Signage, Location-based Services, High-density Wi-Fi, and Hospitality Management Systems. These technologies facilitate Digital Transformation in Sports, enabling advanced Analytics & Statistics, Fan Engagement, and Network Elements Management. In summary, the Sports Technology Market is a dynamic and evolving landscape that integrates ML, AI, and advanced hardware and software solutions to revolutionize sports, from enhancing Athlete Performance to providing immersive Fan Experiences.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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