LONDON--(BUSINESS WIRE)--The global smart sports equipment market is expected to post a CAGR of over 37% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
There is an increase in the demand for smart sports equipment and various sports analytics platforms among teams, coaches, and sports associations. Sports analytics platforms help in analyzing the play-by-play effectiveness for real-time competitive intelligence and anticipate player safety issues to prevent injuries. It enables team managers to perform predictive analysis based on data related to players and their rankings and training. Thus, the growing demand for sports analytics will boost the growth of the smart sports equipment market during the forecast period.
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As per Technavio, the increasing demand for robotics, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Smart Sports Equipment Market: Increasing Demand for Robotics
Robotics is gaining popularity in various industries, including the sports industry. This is driving the team coaches, sports clubs, and sports associations to emphasize on the use of robotics in enhancing the training process and improve player performance. For instance, mobile virtual players (MVPs) are gaining traction in the market as they replicate the size, weight, shape, speed and human motion of an opponent or training partner to boost the performance of players. Thus, with such advances in technology and the adoption of robotics, the market for smart sports equipment is expected to showcase a positive outlook during the forecast period.
“Apart from the increasing demand for robotics, the rising popularity of wearable devices and fitness trackers along with the growing number of partnerships and collaborations in the sports industry are some other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Smart Sports Equipment Market: Segmentation Analysis
This market research report segments the global smart sports equipment market by product (ball sports, fitness sports, and other sports) and geography (APAC, Europe, MEA, North America, and South America).
The European region led the market in 2018, followed by APAC, North America, MEA, and South America respectively. During the forecast period, the European region is expected to maintain its dominance over the global market. This is due to the rising demand for IoT operated connected fitness devices and growing adoption of smart wearables.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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