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Global Sports Technology Market Analysis By Major Manufacturers and Competitive landscape 2024-2033
Sports Technology Market Report
As per the report, the sports technology market size has grown rapidly in recent years. It will grow from $17.93 billion in 2023 to $21.17 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The sports technology market size is expected to see rapid growth in the next few years. It will grow to $38.87 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.
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Rise Of Esports Drives Exponential Growth In The Sports Technology Market
Growing penetration of eSports is significantly contributing to the growth of the sports technology market going forward. Esports refers to video gaming competitions held on an organized platform for spectators to see, mimicking the experience of a professional sporting event. Sports technology is used in Esports for broadcasting video game competitions digitally to a greater number of people by increasing internet speed and connectivity and for achieving better graphics for good spectator experience. For instance, in May 2021, Free Fire World Series (FFWS) Singapore, an eSports event, reached 5.41 million peak viewers, which is a 168% increase compared to the previous FFWS Rio event, which reached 3.9 million peak viewers. Therefore, the growing penetration of eSports will drive the sports technology market.
Technological Advancements Revolutionize The Sports Technology Market For Enhanced Gameplay And Fan Engagement
Technological advancement is the key trend gaining popularity in the sports technology market. Major companies operating in the sports technology market are focusing on developing new technologies to improve the gameplay, fan engagement and player performance. For instance, in June 2021, HCL Technologies Limited an India-based technology company in collaboration with cricket Australia developed a digital innovation platform that supports data-driven approaches to increase the involvement of cricket players, fans, and partners. Utilizing Azure as a platform sandbox, HCL and CA will work with Microsoft to help participants. This initiative aims to use technology to foster cricket fan unity and enthusiasm. The new platform was designed to make a significant contribution to the sport of cricket and allow Cricket Australia to enhance the on- and off-field performance of the Australian National Team. The HCL - CA TechJam is accessible to all sports fans, data scientists, analysts, developers, statisticians, tech enthusiasts, freelancers, university students, coders, and technology pioneers from the world developer community. Develop prototypes utilising technology to serve the community and turn cricket into a professional multi-touchpoint sport for all Australians with more than 700,000 registered participants.
The sports technology market covered in this report is segmented -
1) By Sports Type: Baseball, Basketball, Cricket, Ice Hockey, Tennis, Soccer, Rugby
2) By Technology: Device, Smart Stadium, Esports, Sports Analytics
3) By End-User: Sports Associations, Clubs, Leagues, Athletes, Coaches
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Major companies operating in the sports technology market report are Apple Inc., ChyronHego Corporation, Cisco Systems Inc., HCL Technologies Limited, Infosys Limited, Modern Times Group MTG, Oracle, Panasonic Corporation, SAP SE, Sony Corporation, Stats LLC, Telefonaktiebolaget LM Ericsson, Agile Sports Technologies Inc., Athlete Intelligence, Catapult Group International Ltd., Chetu Inc., Epicor Software Corporation, Firstbeat Technologies Oy, International Business Machines Corporation, Jonas Club Software, Genius Sports, VICIS, Stack Sports, Playermaker, Strava, Nextiles, Proteus, ShotTracker, Zebra Technologies, Hawk-Eye Innovations, Sportradar, Kinexon, KINEXON Sports & Media GmbH, PlaySight Interactive, Sparta Science, MyVert, Blast Motion, CoachMePlus, Krossover Intelligence, Hudl, Coach Logic, SPT Sports, Fusion Sport, Kinduct Technologies, Kitman Labs .
Contents of the report:
1. Executive Summary
2. Sports Technology Market Report Structure
3. Sports Technology Market Trends And Strategies
4. Sports Technology Market - Macro Economic Scenario
5. Sports Technology Market Size And Growth
…..
27. Sports Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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