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Sports Technology Market

Sports Technology Market Size, Share & Segment By Type (Baseball, Cricket, Tennis, Rugby, Basketball, Ice Hockey, Soccer) By Technology (Devices, Smart Stadium, Esports, Statistics & Analytics), By Regions And Global Forecast 2022-2028

Report Id: SNS/SEMI/2356 | July 2022 | Region: Global | 131 Pages

Report Scope & Overview:

The Sports Technology Market Size was valued at USD 13.6 billion in 2021, and is expected to reach USD 40.7 billion by 2028, and grow at a CAGR of 16.9% over the forecast period 2022-2028.

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.

Sports Technology Market Revenue Graph

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.

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 and Panasonic Corporation.

MARKET SEGMENTS:

BY TYPE

  • Baseball

  • Cricket

  • Tennis

  • Rugby

  • Basketball

  • Ice Hockey

  • Soccer

BY TECHNOLOGY

  • Devices

  • Smart Stadium

  • Esports

  • Statistics & Analytics

Sports Technology Market Segment Pie Chart

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 2022 to 2028, 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

 

Sports Technology Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 13.6 Billion
Market Size by 2028 US$ 40.7 Billion
CAGR CAGR of 16.9% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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


Frequently Asked Questions (FAQ) :

The market value is expected to reach USD 40.7 billion by 2028.

Esports technology is becoming more popular, Data-driven decision-making is becoming increasingly important and Increasing online audience adoption.

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.

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

 

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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Secondary Research

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