DUBLIN--(BUSINESS WIRE)--The "Sports Technology Market by Technology (Device, Smart Stadium, Esports, Sports Analytics), Sports (Soccer, Baseball, Basketball, Ice Hockey, American Football/Rugby, Tennis, Cricket, Golf, Esports), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The sports technology market was valued at USD 8.9 billion in 2018 and is projected to reach USD 31.1 billion by 2024; it is expected to grow at a CAGR of 20.63% during the forecast period.
The study includes an in-depth competitive analysis of key market players, with their company profiles, recent developments, and key market strategies.
In recent years, professional sports bodies have adopted new technologies such as sports data analytics, smart stadium, wearable devices, digital signage, and esports. Smart stadium is one of the major trends worldwide due to the proliferation of sporting events. Technological innovations in the smart stadium market are driving the implementation of several projects worldwide. Market opportunities in Europe and APAC are high, with favorable economic and sporting environment. Esports is mainly driven by the increasing popularity of video games.
Wearable technology refers to electronic technologies or devices worn by users either on their body or clothing. Wearable devices facilitate human-computer interaction by making use of small body-worn computers. These devices include activity trackers, smart clothing, smart glasses, smartwatches, and virtual and augmented reality devices. Wearable devices allow hands-free operations, real-time data monitoring, network communication, and data analytics. All these technological benefits are driving the overall sports technology market.
Sports analytics market is expected to grow at a very high pace during the forecast period
Sports analytics plays an important role in the functioning of a sports organization. Till recent past, coaches and experts did sports analysis during practice/training sessions and live matches and tournaments. The advancements in technology have enabled sports organizations to take better decisions about their teams and business operations. It is one of the primary drivers for the sports industry revolution. The increasing adoption of social media platforms by fans for blogging and posting reviews will drive the demand for sports analytics solutions.
Smart stadium was the largest segment in sports technology market in 2018
Stadiums are competing with at-home experience. Stadium owners are betting high on investing digital technologies for creating unforgettable experience in stadiums. Their need to increase operational efficiency, achieve sustainability, and handle the changing business dynamics is driving the growing adoption of smart stadium services across all regions. Service providers help implement intelligent automation technology for efficient operations and cost-effective maintenance of stadiums.
North America accounted for largest share in sports technology market in 2018
North America held largest share of the sports technology market in 2018. The wide-scale adoption of technology and a rising standard of living are driving the demand for advanced sports technologies in the region. The demand for comfortable sports viewing experience, growing popularity of BYOD, and increasing social media integration with stadium technologies are some of the factors driving the growth of the sports technology market in North America.
Key Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Sports Technology Market Opportunities
4.2 Sports Wearables Market, By Type, 2016-2024 (USD Million)
4.3 Sports Technology Market, By Technology & Region
4.4 Smart Stadium Market, By Software, 2016-2024 (USD Million)
4.5 Smart Stadium Market, By Services, 2016-2024 (USD Million)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Significant Improvement in Audience Engagement
5.2.1.2 Growing Demand for Data-Driven Decisions and Operations
5.2.1.3 Increasing Sports Events, Online and Offline
5.2.2 Restraints
5.2.2.1 High Initial Investment and Budget Constraints
5.2.3 Opportunities
5.2.3.1 Growing Sports Leagues and Increasing Number of Events With Large Prize Pools
5.2.4 Challenges
5.2.4.1 Complexities in Upgrading and Replacing Legacy Systems
5.2.4.2 Risk of Technology Glitches at Live Events
6 Market, By Technology
6.1 Introduction
6.2 Device
6.3 Smart Stadium
6.4 Services
6.5 Esports
6.6 Sports Analytics
7 Market, By Sports
7.1 Introduction
7.2 Soccer
7.2.1 Most of Latest Sports Technologies are Used By Soccer Organizers, Teams, Players, and Coaches
7.3 Baseball
7.3.1 Major League Baseball Started Allowing Players Use Wearables Since 2016
7.4 Basketball
7.4.1 Basketball Players Use Wearable Devices to Track Workloads and Movement for Injury Prevention
7.5 Ice Hockey
7.5.1 Mobile Sensor Systems are Increasingly Used in Training
7.6 American Football/Rugby
7.6.1 in America Football, Analysis of Data Transmitted to Cloud From Sensors is Helping Teams Keep Players at Peak of Physical Fitness
7.7 Tennis
7.7.1 Plenty of Devices Designed Specifically to Help Tennis Players Improve Both on and Off Court
7.8 Cricket
7.8.1 Wearable Technology Helps Cricketers Improve Their Game and Make Better Decisions
7.9 Golf
7.9.1 Wearable Technology Companies are Enticing Golf Players to Stay Connected With Electronic Devices That Help Improving Their Games
7.10 Esports
7.10.1 Esports has Witnessed Significant Growth in Past Few Years, Especially Due to Large Prize Pool Events
7.11 Others
8 Geographic Analysis
8.1 Introduction
8.2 North America
8.2.1 Several Stadium Operators, Teams, Players, and Event Organizers in This Region are Adopting Latest Sports Technologies to Transform Their Operations Digitally
8.3 Europe
8.3.1 EU and Individual State Financing Policies Expected to Drive Continued Growth of European Sports Technology Market
8.4 APAC
8.4.1 Emergence of New Sports Leagues Driving Demand for Sports Technologies in APAC
8.5 RoW
8.5.1 Internet Penetration and Cloud Adoption are Gradually Rising in RoW, Along With Flourishing Teams in Various Sports
9 Competitive Landscape
9.1 Overview
9.2 Ranking Analysis of Key Players in Sports Technology Market
9.3 Competitive Leadership Mapping
9.3.1 Visionary Leaders
9.3.2 Innovators
9.3.3 Dynamic Differentiators
9.3.4 Emerging Companies
9.4 Competitive Situations and Trends
9.4.1 Product Launches and Developments
9.4.2 Partnership/Agreement/Collaboration/Joint Venture/Alliance
9.4.3 Award/Events/Sponsorship
9.4.4 Acquisition
9.4.5 Expansion/ Investment
10 Company Profiles
10.1 Introduction
(Business Overview, Products/Services/Solutions Offered, Recent Developments, SWOT Analysis and View)
10.2 Key Players
10.2.1 IBM
10.2.2 Ericsson
10.2.3 Cisco
10.2.4 Fujitsu
10.2.5 SAP SE
10.2.6 Oracle
10.2.7 NEC
10.2.8 LG
10.2.9 Sharp
10.2.10 Samsung
10.2.11 FitBit
10.2.12 Apple
10.2.13 Garmin
10.2.14 Sony
10.2.15 ARRI
10.2.16 Panasonic Corporation
10.2.17 Modern Times Group
10.2.18 Activision Blizzard
10.2.19 Valve Corporation
10.2.20 Tencent
10.2.21 CJ Corporation
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