openPR Logo
Press release

Sports Technology Market 2021-2027 will change the Future | Major Giants – STATSports Group, Zebra Technologies Corp., EON Reality

02-03-2021 03:38 PM CET | Sports

Press release from: The Insight Partners

Sports Technology Market

Sports Technology Market

Increasing popularity of esports, rising demand for a comfortable sport viewing experience, and growing integration of social media with stadium technology are the major factors driving the growth of North American sports technology market. Asia Pacific is anticipated to grow at the highest CAGR during the forecast period. The adoption of sports technology in APAC is majorly driven by penetration of internet and cloud technology, emergence of professional leagues, and sports digitalization. There are major sports leagues and active participants in sports, such as cricket, hockey, badminton, and athletics, as well as esports in India, China, Australia, Pakistan, Sri Lanka, and Bangladesh. China is the largest esports market in APAC.

According to our latest market study on “Sports Technology Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component (Hardware, Software, and Services) and Technology (Tracking System/Hawk-Eye Technology, Broadcast Technology, Virtual Reality, Wearable Technology, and Other Technologies),” the market was valued at US$24,135.2million in 2019 and is projected to reach US$ 65,419.5million by 2027; it is expected to grow at a CAGR of 13.5% from 2020 to 2027.

Sample Report + All Related Graphs & Charts @ https://bit.ly/3tmUfzb

The use of sports technology to improve spectator experience and stadium operations positively impacts the market growth. Professional sports bodies have adopted new and innovative technologies, such as digital signage, smart stadiums, sports data analytics, and wearable devices. Due to the proliferation of sporting events, smart stadium is one of the significant trends globally. Additionally, the growing number of massive prize pool events and the ever-increasing number of sports leagues across developed and emerging economies provide market players multiple lucrative opportunities. Due to the presence of a limited number of players, the market is consolidated in nature. To develop innovative technologies and maintain their position in the market, players make significant investments in research and development activities. For example, Fitbit, Inc., a global provider of wearables, collaborated with Google LLC in April 2018 to accelerate digital health and wearables innovation. However, the US sports leagues began suspending their seasons in early March 2020 due to COVID-19 pandemic. Mandatory social distancing has significantly impacted the global sports industry. For millions of fans, live sports have taken the biggest hit, by shutting down games and ending broadcasts. Restrictions on sports events and mass gatherings in most of the countries are expected to affect the growth of sports industry, which minimizes the adoption of sports technology among end users, such as, coaches, clubs, leagues, and sports associations. The factors mentioned above are expected to impede market growth in 2020 and mid-2021.ATO-GEAR B.V.; Catapult Group International Ltd; ChyronHego Corporation; EON Reality; TrinityVR, Inc.; PROTXX, INC.; Hawk-Eye Innovations Ltd.; STATSports Group; Strivr Labs, Inc.; and Zebra Technologies Corp. are among the key market players profiled in the report.

Impact of COVID-19 on North American Sports Technology Market
North America is a critical market for the growth of various sports related solutions & services owing to the presence of developed countries such as the US and Canada in this region. Presently, US is the world’s worst affected country due to COVID-19 outbreak with highest number of confirmed cases and deaths, as per the recent WHO statistics. The high number of COVID cases have resulted in a negative impact on country’s and region’s economy and there has been a decline in overall business activities and growth of various industries operating in the region. Developed countries such as the US are major markets for the growth of sports technology market and the ongoing interruptions in the growth of sports industry due to cancellations and postponement of various big sports events due to COVID-19 outbreak are affecting the revenue of key market players operating in the North America region. Some of the major US sports leagues have suspended their seasons scheduled to happen in 2020 and mandatory social distancing is further aggravating the negative impact on the US sports industry. Major League Soccer, Major League Baseball, Women’s National Basketball Association, and United States Women's Open Championshipare some of the organizations and events that have been postponed/cancelled due to the pandemic. The slowdown in North American sports industry is also resulting in financial challenges for teams, clubs, leagues, and sports organizers present in the region. Hence, the ongoing COVID-19 crisis and critical situation in the US is anticipated to impact the sports technology market growth in North America region in a negative manner for at least for the next few quarters.

The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2020–2027? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Sports Technology market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Sports Technology market?
4. What are the prominent market trends influencing the development of the Sports Technology market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Sports Technology market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Sports Technology market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Sports Technology market segments and regions.

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Sports Technology market.

Are you a Start-up willing to make it Big in the Business? Grab an Exclusive PDF Brochure @ https://bit.ly/2YHkm5S

Note: Access insightful study with over 150+ pages, list of tables & figures, profiling 10+ companies.

Thanks for reading this article; you can also customize this report to get select chapters or region-wise coverage with regions such as Asia, North America, and Europe.

Contact Us:
The Insight Partners,
Phone: +1-646-491-9876
Email: sales@theinsightpartners.com

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are committed to provide highest quality research and consulting services to our customers. We help our clients understand the key market trends, identify opportunities, and make informed decisions with our market research offerings at an affordable cost.
We understand syndicated reports may not meet precise research requirements of all our clients. We offer our clients multiple ways to customize research as per their specific needs and budget

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Sports Technology Market 2021-2027 will change the Future | Major Giants – STATSports Group, Zebra Technologies Corp., EON Reality here

News-ID: 2235767 • Views:

More Releases from The Insight Partners

Current Transformer Market is expected to grow a CAGR of 6.1% from 2025 to 2031
Current Transformer Market is expected to grow a CAGR of 6.1% from 2025 to 2031
The Global Current Transformer Market 2031 that centers around Current Transformer Market examines the significant components with a top to bottom methodology and empowers the client to survey the drawn-out based interest additionally predicts explicit executions. This report gives subjective investigation, clarifying item scope and expounding Market experiences and standpoint. To Get Sample Copy of Report, Click Here - https://www.theinsightpartners.com/sample/TIPRE00027549/?utm_source=OpenPR&utm_medium=10607 (Our SAMPLE COPY of the report offers a quick
Healthy Eating Revolution Boosts Packaged Salad Dressings Market Growth Through 2031
Healthy Eating Revolution Boosts Packaged Salad Dressings Market Growth Through …
New York, US - October 06, 2025 -The Packaged Salad Dressings market is entering a period of dynamic innovation and expansion, with consumers seeking healthier, flavorful, and convenient dressing options. The market is expected to register steady growth from 2025 to 2031, fueled by evolving consumer preferences and distribution innovations. As more people globally adopt salads and healthy eating habits, demand for packaged dressings such as vinaigrette, ranch, balsamic, honey mustard,
High Flow Oxygen Therapy Devices Market Size, Growth Status and Better Investment Opportunities by 2031
High Flow Oxygen Therapy Devices Market Size, Growth Status and Better Investmen …
The Insight Partners analysts forecasts the latest report on "Global High Flow Oxygen Therapy Devices Market (Covid-19) Impact and Analysis by 2031", according to report; The High Flow Oxygen Therapy Devices Market report covers the overall and all-inclusive analysis of Market with all its factors that have an impact on market growth. This report is anchored on the thorough qualitative and quantitative assessment of the High Flow Oxygen Therapy Devices
Motor Protection Market Set for Robust Growth by 2031
Motor Protection Market Set for Robust Growth by 2031
The Insight Partners has published its latest research titled"Motor Protection Market Share, Size, Trends, and Forecast by 2031." The report projects consistent growth in the global motor protection market, fueled by increasing industrialization, advances in smart technologies, and tighter safety regulations. With growing infrastructure initiatives and the rise of intelligent systems, the market is poised for significant expansion in terms of size, market share, and innovation through 2031. Check valuable insights

All 5 Releases


More Releases for Technology

Insurance Technology Market Outlook 2021 | TIA Technology, Patriot Technology So …
Insurance Technology Market has recently added by Qurate Research to its vast repository. This intelligence report includes investigations based on Current scenarios, Historical records, and future predictions. Report includes overview, which interprets value chain structure, industrial environment, regional analysis, applications, market size, and forecast. The report is integrated with imperative insights on the market, which will support the clients to make precise business decisions. The report incorporates data regarding the
Global Insurance Technology Market 2019 – Top Companies Xchanging, Insurance T …
"Insurance Technology or Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model. Insurtech is a portmanteau of “insurance” and “technology” that was inspired by the term fintech.” Global Insurance Technology Market Research Report is a valuable source of insightful data for business strategists. Provides industry Overviews, including Growth Analysis, Past & Future Costs, Revenue, Demand and Supply Data (where
Insurance Technology Market Analysis By Major Players | Xchanging, Insurance Tec …
The global Insurance Technology market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of between 2018 and 2025. This report studies the Insurance Technology market size by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and
Insurance Technology Market – Major Technology Giants in Buzz Again | TIA Tech …
Global Insurance Technology Market Size, Status and Forecast 2025 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing capital structure of the Global Insurance Technology Market. Some of the key players profiled in the study are Xchanging, Insurance Technology
Global Insurance Technology Market 2018-2025 Health and Life Insurance By Xchang …
In 2017, the global Insurance Technology market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of between 2018 and 2025. This report studies the Insurance Technology market size by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges,
Ultrasonic Technologies Market by Technology (Motor/actuator technology, medical …
The global ultrasonic technologies market provides alteration of processes with the use of oscillating sound of very high frequency. It is expected that the market would grow at a respectable rate as the technology is being widely adopted. Various verticals such as industrial units and healthcare are using ultrasound as it is considered a highly efficient technology. In the healthcare sector, it is used for diagnosis and treatment by minimal