Sports Technology Market by Offering (Wearables, Digital Signages, Cameras, Smart Stumps & Bails, Snicko/Edge Detector, VAR, Sports NFT, Tracking Systems, Sports Analytics), Technology, Sport, End User, and Geography - Global Forecast to 2030
Sports Technology Market by Offering (Wearables, Digital Signages, Cameras, Smart Stumps & Bails, Snicko/Edge Detector, VAR, Sports NFT, Tracking Systems, Sports Analytics), Technology, Sport, End User, and Geography-Global Forecast to 2031
The research report titled 'Sports Technology Market by Offering (Wearables, Digital Signages, Cameras, Smart Stumps & Bails, Snicko/Edge Detector, VAR, Sports NFT, Tracking Systems, Sports Analytics), Technology, Sport, End User, and Geography-Global Forecast to 2031' from Meticulous Research(R) provides an in-depth analysis of the sports technology market across five major geographies and focuses on the current market trends, market sizes, market shares, recent developments, and forecasts to 2031.
The sports technology market is projected to reach $32.4 billion by 2031, at a CAGR of 26.2% from 2024 to 2031.
The growth of this market is driven by the increasing adoption of fan engagement technologies, rising investments in sports data analytics, athlete tech, and performance optimization, advancements in in-venue technology, growth of the gambling & gaming sector, a growing number of sports events, and the high demand for data-driven decision-making. However, limited monetization avenues, complexities in deriving actionable insights from athletic performance data, and cybersecurity risks are restraining the market's growth.
Furthermore, the proliferation of sports leagues & events offering substantial prize pools and the increasing adoption of AR and VR to simulate optimal training environments are expected to create market growth opportunities. However, integrating new technologies with legacy systems, slow cultural adaptation in sports, and the lack of efficient solutions for managing siloed data are some of the challenges impacting the market's growth.
Additionally, the growing adoption of generative AI, the emergence of NFT ticketing to streamline the buying and selling processes for sports event tickets, and the increasing use of predictive analysis software to help teams and coaches enhance decision-making and optimize performance strategies are some of the prominent trends in this market.
The sports technology market is segmented by offering, technology, sport, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country and regional levels.
Based on offering, the sports technology market is segmented into wearables, digital signages, cameras, smart stumps & bails, snicko/edge detectors, video assistance referees, sports NFTs, tracking systems, and sports analytics. In 2024, the sports analytics segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to the increasing availability of large amounts of in-field data, growing demand for real-time data access on player performance, need for analytics solutions for analyzing complex in-field data streams, and availability of cost-effective and advanced computing solutions supported by cloud computing.
Based on technology, the sports technology market is segmented into artificial intelligence, neuroscience, nanotechnology, blockchain, virtual reality, IoT, 3D visuals & simulations, big data, and other technologies. In 2024, the big data segment is expected to account for the largest share of the sports technology market. The large share of this segment is driven by the availability of advanced technologies such as multicore processors, high-performance databases, and data compression technology, paving the way for new and dedicated applications of big data for sports. Beyond sports performance analysis, clubs, leagues, media companies, and sponsors are utilizing big data to study fans' preferences and behaviors, seeking to expand their reach and market penetration.
Based on sport, the sports technology market is segmented into bat & ball sports, ball sports, racket sports, racing sports, track & field sports, water sports, adventure sports, combat sports, and other sports. In 2024, the ball sports segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to increasing applications of various sports technologies to boost sporting quality, improve business performance in the football industry, intense commercialization of football and bring about new revenue-generating opportunities, enhancement of players' and teams' performance, and improve match officiating to identify and minimize mistakes that went unnoticed earlier in the game.
Based on end user, the sports technology market is segmented into sports clubs, associations, athletes & coaches, and sports leagues. In 2024, the sports clubs segment is expected to account for the largest share of sports technology. Sports clubs are increasingly utilizing advanced technologies for boosting participation and improving communication between players, club officials, as well as additional elements like event planning, team management, financial operations, health and safety records, etc.; use of online platforms and applications for getting updates of players availability for matches and training sessions helping administrators and coaches who work for the club to quickly access this information and organize team sheets and arrangements; and improvement in team performance using sports analytics to gather and analyze vital data on players' and teams' performance using sensors, cameras, and other specialist equipment, helping coaches better understand how a player performs.
Based on geography, the sports technology market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of sports technology. The large share of this region is attributed to the presence of many reputed and big football clubs in the region. Big clubs in the Europe region are increasingly using data-driven approaches provided by sports technologies to scout for potentially interesting players. Coaches and scouts in the top football clubs in the Europe region rely on advanced sports technologies to make the most informed personnel choices, keep their players in top condition, and get complete holistic views of a player's capabilities, including detailed information to create individual training & recovery programs and analyze details such as ball handling time, ball speeds & trajectories in real-time.
The key players operating in the sports technology market are Apple Inc. (U.S.), Bellabeat, Inc. U.S.), ChyronHego Corporation (U.S.), SAP SE (German), Misfit, Inc. (U.S.), Catapult Group International Ltd (Australia), Garmin Ltd. (U.S.), PlaySight Interactive LTD. (Israel), Sportradar AG (Switzerland), Fan Three Sixty, LLC (U.S.), Performa Sports Ltd. (Ireland), Pro Football Focus (U.S.), DDSports, Inc. (ShotTracker) (U.S.), Sensor Holdings Limited (StretchSense) (New Zealand), Samsung Electronics Co., Ltd. (South Korea).
Key Questions Answered in the Report:
Which are the high-growth market segments in terms of offering, technology, sport, and end user?
What is the historical market size for sports technology?
What are the market forecasts and estimates for 2024-2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the sports technology market?
Who are the major players in the sports technology market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the sports technology market?
What are the growth strategies adopted by major market players?
What are the key market trends, and which are the high-growth countries?
Who are the local emerging players in the sports technology market, and how do they compete with the other players?
Scope of the Report:
Sports Technology Market Assessment, by Offering
Wearables
Fitness & Heartrate Monitor
AR/VR Headsets
Smart Clothing
Smart Patches
Hearables
GPS Trackers
Contactless Biosensors
Smart Footwear & Insoles
Other Devices
Digital Signages
Cameras Spider Cams
Drones
Other Cameras
Smart Stumps & Bails
Snicko/Edge Detectors
Video Assistance Referee
Sports NFTs
Tracking Systems
Sports Analytics
Player Health & Performance Analytics
Team Performance Analytics
Video Analytics
Player Valuation
Team Strategy
Sports Betting
Others
Sports Technology Market Assessment, by Technology
Artificial Intelligence
Neuroscience
Nanotechnology
Blockchain
Virtual Reality
IoT
3D Visuals & Simulations
Big Data
Other Technologies
Sports Technology Market Assessment, by Sport
Bat & Ball Sports
Cricket
Baseball
Golf
Hockey
Table Tennis
Ball Sports
Soccer/Football
Basketball
American Football/Rugby
Volleyball
Racket Sports
Tennis
Badminton
Squash
Other Racket Sports
Racing Sports
Formula 1
Moto GP
Nascar
Drag Racing
Rallies
Cycling
Other Racing
Track & Field Sports
Water Sports
Adventure Sports
Combat Sports
Other Sports
Sports Technology Market Assessment, by End User
Sports Clubs
Sports Associations
Athletes & Coaches
Sports Leagues
Sports Technology Market Assessment, by Geography
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Argentina
Uruguay
Rest of Latin America
Middle East & Africa
Iran
Saudi Arabia
Qatar
UAE
Rest of Middle East & Africa
TABLE OF CONTENTS
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Increasing Adoption of Fan Engagement Technologies
4.2.1.2. Increasing Investments in Sports Data Analytics, Athlete Tech and Performance Optimization,
In-Venue Technology, Gambling & Gaming, and Recovery Health & Home Fitness
4.2.1.3. Increasing Number of Sports Events
4.2.1.4. Growing Demand for Data-driven Decisions and Operations
4.2.2. Restraints
4.2.2.1. Very Minimal Monetization Opportunities
4.2.2.2. Difficulty Mining Athletic Performance Data for Generating Easily Understandable Insights
4.2.2.3. High Risk of Cybersecurity Concerns
4.2.3. Opportunities
4.2.3.1. Increasing Emergence of Sports Leagues & Events With Large Prize Pools
4.2.3.2. Increasing Adoption of AR/VR for Creating Near Perfect Training Environment
4.2.4. Challenges
4.2.4.1. Complexity In Integrating New Technologies With Older Systems or Applications
4.2.4.2. Slow Cultural Change in Sports
4.2.4.3. Lack of Time-efficient Solutions for Cleaning and Manipulating Siloed Data
4.3. Market Trends
4.3.1. Increasing Use of Generative AI
4.3.2. NFT Ticketing and Streamlining Sports Events Ticket Buying & Selling Process
4.3.3. Increasing Use of Predictive Analysis Software Helping Teams & Coaches Make Better Decisions
4.4. Case Studies
4.5. Porter's Five Forces Analysis
4.5.1. Bargaining Power of Buyers
4.5.2. Bargaining Power of Suppliers
4.5.3. Threat of Substitutes
4.5.4. Threat of New Entrants
4.5.5. Degree of Competition
5. Sports Technology Market Assessment, by Offerings
5.1. Overview
5.2. Wearables
5.2.1. Fitness & Heartrate Monitor
5.2.2. AR/VR Headsets
5.2.3. Smart Clothing
5.2.4. Smart Patches
5.2.5. Hearables
5.2.6. GPS Trackers
5.2.7. Contactless Biosensors
5.2.8. Smart Footwear & Insoles
5.2.9. Other Devices
5.3. Cameras
5.3.1. Spider Cams
5.3.2. Drones
5.3.3. Other Cameras
5.4. Digital Signages
5.5. Smart Stumps & Bails
5.6. Snicko/Edge Detectors
5.7. Video Assistance Referee
5.8. Sports NFTs
5.9. Tracking Systems
5.10. Sports Analytics
5.10.1. Player Health & Performance Analytics
5.10.2. Team Performance Analytics
5.10.3. Video Analytics
5.10.4. Player Valuation
5.10.5. Team Strategy
5.10.6. Sports Betting
5.10.7. Others
6. Sports Technology Market Assessment, by Technology
6.1. Overview
6.2. Artificial Intelligence
6.3. Neuroscience
6.4. Nanotechnology
6.5. Blockchain
6.6. Virtual Reality
6.7. IoT
6.8. 3D Visuals & Simulations
6.9. Big Data
6.10. Other Technologies
7. Sports Technology Market Assessment, by Sports
7.1. Overview
7.2. Bat & Ball Sports
7.2.1. Cricket
7.2.2. Baseball
7.2.3. Golf
7.2.4. Hockey
7.2.5. Table Tennis
7.3. Ball Sports
7.3.1. Soccer/Football
7.3.2. Basketball
7.3.3. American Football/Rugby
7.3.4. Volleyball
7.4. Racket Sports
7.4.1. Tennis
7.4.2. Badminton
7.4.3. Squash
7.4.4. Other Racket Sports
7.5. Racing Sports
7.5.1. Formula F1
7.5.2. Moto GP
7.5.3. Nascar
7.5.4. Drag Racing
7.5.5. Rallies
7.5.6. Cycling
7.5.7. Other Racing Sports
7.6. Track & Field Sports
7.7. Water Sports
7.8. Adventure Sports
7.9. Combat Sports
7.10. Other Sports
8. Sports Technology Market Assessment, by End Users
8.1. Overview
8.2. Sports Clubs
8.3. Sports Associations
8.4. Athletes & Coaches
8.5. Sports Leagues
9. Sports Technology Market Assessment, by Geography
9.1. Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. Germany
9.3.2. UK
9.3.3. France
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe
9.4. Asia-Pacific
9.4.1. China
9.4.2. India
9.4.3. Japan
9.4.4. South Korea
9.4.5. Rest of Asia-Pacific
9.5. Latin America
9.5.1. Mexico
9.5.2. Brazil
9.5.3. Argentina
9.5.4. Uruguay
9.5.5. Rest of Latin America
9.6. Middle East & Africa
9.6.1. Saudi Arabia
9.6.2. UAE
9.6.3. Qatar
9.6.4. Iran
9.6.5. Rest of Middle East & Africa
10. Competition Analysis
10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.3.1. Industry Leaders
10.3.2. Market Differentiators
10.3.3. Vanguards
10.3.4. Emerging Companies
10.4. Vendor Dashboard
11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
11.1. Apple Inc.
11.2. Bellabeat, Inc.
11.3. ChyronHego Corporation
11.4. SAP SE
11.5. Misfit, Inc.
11.6. Catapult Group International Ltd
11.7. Garmin Ltd.
11.8. PlaySight Interactive LTD.
11.9. Sportradar AG
11.10. Fan Three Sixty, LLC
11.11. Performa Sports Ltd.
11.12. Pro Football Focus
11.13. DDSports, Inc. (ShotTracker)
11.14. Sensor Holdings Limited (StretchSense)
11.15. Samsung Electronics Co., Ltd.
(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)