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Sports Tracking Global Market Report 2024 - By Share, Size, Growth And Demand, Forecast To 2033
Sports Tracking Market
As per the report, the sports tracking market size has grown strongly in recent years. It will grow from $2.74 billion in 2023 to $2.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The sports tracking market size is expected to see strong growth in the next few years. It will grow to $4.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
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Increasing Health Consciousness Is Driving The Growth Of Sports Tracking
The increasing health consciousness is expected to propel the growth of the sports tracking market going forward. Health consciousness refers to the awareness, knowledge, and proactive efforts individuals and communities undertake to maintain or improve their health and well-being. Increasing health consciousness is due to rising healthcare expenses, preventive care trends, media influence, environmental awareness, demographic shifts, wellness industry expansion, and cultural emphasis on self-care and mental well-being. Sports tracking enhances health consciousness by providing real-time data and insights into physical activity, encouraging accountability and informed decision-making towards healthier lifestyles. For instance, in January 2022, according to the Outdoor Industry Association, a US-based organization, in 2021, 164.2 million Americans, equivalent to 54% of the population aged 6 and above, engaged in outdoor recreation at least once, marking the highest participation rate ever recorded. Since March 2020, the outdoor participation base has increased by 6.9%, with a further 2.2% growth in 2021, totaling 164.2 million participants. Therefore, the increasing health consciousness is driving the growth of the sports tracking market.
Technological Advancements In GPS-Based Player Tracking Systems Enhanced Market Growth
Major companies operating in the sports tracking market are focusing on developing advanced solutions, such as a new GPS-based player tracking system, to gain a competitive edge in the market. A global positioning system (GPS)-based player tracking system refers to a technology used in sports to monitor and analyze the movements and performance of athletes during training sessions and games. For instance, in May 2023, Kinexon AG, a Germany-based provider of real-time player tracking solutions, launched Kinexon Perform GPS Pro, a GPS-based player tracking system designed for coaches in soccer, football, and other outdoor team sports. This innovative product offers unique features such as real-time tracking, over 100 performance metrics, live data streaming to the AWS Cloud, automated data processing, and wireless charging, making it an advanced GPS-based player-tracking system for outdoor team sports.
The sports tracking market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Deployment Type: Cloud-Based, On-Premises
3) By Application: Player Analysis, Team Analysis, Health Assessment, Video Analysis, Other Applications
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Major companies operating in the sports tracking market are Huawei Technologies Co Ltd., SAP SE, HCL Technologies Limited, Zebra Technologies Corporation, Garmin Ltd., SAS Institute Inc., Sportradar Group AG, Stats Perform, Polar Electro Oy, Catapult Group, Withings SA, ChyronHego Corporation, Aftership Limited, Kinexon AG, Sports Mechanics, Sensoria Inc., JOHAN Sports B.V., LifeBEAM Technologies Inc., STATSports Group Ltd, Track160 Inc., Hexoskin Inc., Sports Performance Tracking Pty Ltd
Contents of the report:
1. Executive Summary
2. Sports Tracking Market Report Structure
3. Sports Tracking Market Trends And Strategies
4. Sports Tracking Market - Macro Economic Scenario
5. Sports Tracking Market Size And Growth
…..
27. Sports Tracking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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