The growth of the sports technology market is attributed to increasing focus on delighting and engaging fans at stadiums, growing pressure to enhance player and team results, and rising implementation of IoT technologies for efficient management of stadium infrastructure. Therefore, the Sport Technology Market is expected to grow from USD 21.9 billion in 2022 to USD 41.8 billion by 2027, at a CAGR of 13.8% between 2022 and 2027.
This sports technology market report is segmented by region, end user, applications, competitors, etc. Depending on the applications, the sports technology market for sports analytics is expected to grow at the highest CAGR from 2022 to 2027. Also, Sports analytics solutions assist not only coaches and management but also individual players in analyzing and improving their performance. Furthermore, data-driven decision-making is being used by various sports organizations to improve their hospitality and audience experience, in addition to fields and players. Thus, sports analytics solutions enable sports organizations to improve in multiple areas by making data-driven decisions that boost profitability.
Regarding the regional segmentation of the sports technology market, Europe has the most professional and well-known football associations and clubs worldwide. Different European football leagues, such as the Barclays English Premier League, Bundesliga (Germany), Scottish Premier League (Scotland), and La Liga (Spain), take place at regular intervals, and the management of these associations invest heavily in technologies for effective monitoring of games and players. Major football clubs, such as Manchester United, Arsenal, Chelsea, Real Madrid, Barcelona, and Liverpool, are part of such leagues. Key competitors involved in the sports technology market are IBM (US), Ericsson (Sweden), Cisco (US), Fujitsu (Japan), Huawei (China), Intel (US), SAS Institute (US), SAP (Germany), Oracle (US), NEC Corp.(Japan), Sharp Corp. (Japan), Samsung Electronics (South Korea), Fitbit (US), Apple Inc. (US), Garmin Ltd. (US), Xiaomi Corp. (China) Sony Group Corp. (Japan), Panasonic Corp. (Japan), Modern Times Group (Sweden), Activision Blizzard (US), Tencent Holdings Ltd. (China), Catapult (Australia), and Zebra Technologies (US).
Research Coverage The sports technology market reports provide an in-depth presentation of the market by providing insights into a market overview, market outlook, and much more. Depending on the sport, the sports technology market is categorized into basketball, baseball, soccer, ice hockey, American football/rugby/, tennis, cricket, escorts, and others. Furthermore, depending on the region, the sports technology market has been categorized into Europe, North America, Asia Pacific, and the Rest of the world. Moreover, depending on the end user, the market has been segmented into sports associations, leagues, clubs, coaches, and athletes.
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