Report Scope & Overview:
Sports Technology Market Size was valued at USD 15.89 billion in 2022, and is expected to reach USD 55.44 billion by 2030, and grow at a CAGR of 16.9% over the forecast period 2023-2030.
The Sports Technology Market is changing as a result of increased investments by numerous organisations in adopting cutting-edge technologies to monitor players' health and stats performance while engaging viewers. Increasing investments in ticket sales, event marketing, and operations to boost league revenues are also expected to boost sports technology market growth. Digitalization and the use of artificial intelligence (AI) improve the management teams' ability to effectively monitor sports.
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The growing number of sports leagues around the world is opening up new avenues for infrastructure development and the adoption of cutting-edge technology services. Professional sports leagues adopt cutting-edge technologies such as data analytics, smart stadiums, and performance tracking wearables.
Owners of league teams use emerging technologies and analytical tools to improve player performance and expand viable business opportunities. Franchise models have transformed the industry in an unusual way because they provide numerous benefits, including profitability for organisers, team owners, and investors. Investors in franchise models purchase teams as well as territory broadcast rights. The model aids in the creation of long-lasting and professional results, which drives demand for emerging technologies in the game.
MARKET DYNAMICS:
KEY DRIVERS:
Esports technology is becoming more popular.
Data-driven decision-making is becoming increasingly important.
Increasing online audience adoption.
RESTRAINTS:
Budget constraints and high initial investments
OPPORTUNITIES:
Newer sports leagues and events are being introduced.
AI/ML technology is becoming more popular.
CHALLENGES:
Difficulties in upgrading old systems.
Inadequate pool of trained professionals.
IMPACT OF COVID-19:
The Covid-19 pandemic has devastated many industries around the world, including live sports and related industries such as broadcasting, hospitality, and transportation. Many scheduled tournament events, including the Tokyo Olympics, have been postponed or altered to conform to social distancing norms. As a result, stakeholders are attempting to estimate the revenue and viewership impact of interrupted revenue generation and a sudden drop in audience engagement and attendance.
Global lockdowns, particularly in China and other Asian countries, had a negative impact on digital signage and wearables production in 2020. Lean staff and limited working hours hampered digital signage and wearables research and development, manufacturing, and adoption. Due to restrictions imposed by various governments, distribution networks were temporarily disrupted in numerous locations, limiting the growth of the devices segment in 2020. The cancellation of several highly anticipated sporting events resulted in a decrease in merchandise sales and ticket sales.
Based on Type, the sports technology market is segmented into Baseball, Cricket, Tennis, Rugby, Basketball, Ice Hockey and Soccer. Major leagues such as FIFA, NBA, and MBL are utilising emerging technologies to capture the attention of viewers while also live tracking and analysing player performance in live events. The sports technology market has been divided into four regions: North America, Europe, Asia-Pacific, and the rest of the world.
Based on Technology, the sports technology market is segmented into Devices, Smart Stadium, Esports and Statistics & Analytics. Among these, the devices segment dominated the market and is expected to continue to dominate throughout the review period. International sports leagues and associations are increasingly allowing players to wear devices that track their health and performance on the field during live events.
MARKET SEGMENTS:
BY TYPE
Baseball
Cricket
Tennis
Rugby
Basketball
Ice Hockey
Soccer
BY TECHNOLOGY
Devices
Smart Stadium
Esports
Statistics & Analytics
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REGIONAL ANALYSIS:
Europe led the global sports technology market with a revenue share of more than 33% and is expected to maintain its dominance throughout the forecast period. Europe is home to several football leagues, and the majority of these leagues have embraced technology in various forms. Several tier-2 and tier-3 football clubs can also be found in Europe. Smart stadium technology is gaining popularity in Europe. The regional market is expected to be driven by the stringent public safety regulations enforced by governing bodies to ensure the security of spectators and stadiums. Esports is also gaining traction in this region as a result of numerous market partnerships and collaborations.
From 2023 to 2030, Asia Pacific is expected to be the fastest-growing regional market. Because of the large number of market participants, China will lead the APAC regional market. Japan, as host of the Tokyo 2020 Olympics, is also expected to make a significant contribution to the region's growth. India has also made significant advances in sports technology in recent years, owing to the growing popularity of sports and, as a result, the increasing number of sports leagues. Other countries, such as Australia and Singapore, are also renovating existing stadiums and building new ones with smart technologies to support market growth.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
COMPETITIVE LANDSCAPE:
The key players in the sports technology market are Apple, ChyronHego Corporation, HCL Technologies Limited, Infosys Limited, Oracle Corporation, Sony Corporation, Catapult Sports, Cisco Systems, IBM Corporation, Modern Times Group, Panasonic Corporation & Other Players
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 15.89 Billion |
| Market Size by 2030 | US$ 55.44 Billion |
| CAGR | CAGR of 16.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Baseball, Cricket, Tennis, Rugby, Basketball, Ice Hockey, Soccer) • By Technology (Devices, Smart Stadium, Esports, Statistics & Analytics) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Apple, ChyronHego Corporation, HCL Technologies Limited, Infosys Limited, Oracle Corporation, Sony Corporation, Catapult Sports, Cisco Systems, IBM Corporation, Modern Times Group and Panasonic Corporation. |
| Key Drivers | • Esports technology is becoming more popular. • Data-driven decision-making is becoming increasingly important. |
| Restraints | • Budget constraints and high initial investments |
The market value is expected to reach USD 55.44 billion by 2030.
The key players in the sports technology market are Apple, ChyronHego Corporation, HCL Technologies Limited, Infosys Limited, Oracle Corporation, Sony Corporation, Catapult Sports, Cisco Systems, IBM Corporation, Modern Times Group and Panasonic Corporation.
Esports technology is becoming more popular, Data-driven decision-making is becoming increasingly important and Increasing online audience adoption.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Sports Technology Market Segmentation, by type
8.1Introduction
8.2 Baseball
8.3 Cricket
8.4 Tennis
8.5 Rugby
8.6 Basketball
8.7 Ice Hockey
8.8 Soccer
9. Sports Technology Market Segmentation, by technology
9.1Introduction
9.2 Devices
9.3 Smart Stadium
9.4 Esports
9.5 Statistics & Analytics
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11.Company Profiles
11.1 Modern Times Group
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Apple
11.3 ChyronHego Corporation
11.4 HCL Technologies Limited
11.5 Infosys Limited
11.6 Oracle Corporation
11.7 Sony Corporation
11.8 Catapult Sports
11.9 Cisco Systems
11.10 IBM Corporation
11.11 Panasonic Corporation
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13.Conclusion
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