Press release
Smarts Sports Equipment Market: Steady Growth with Emerging Trends, Key Players, and Market Size Forecast for 2024-2029
Smarts Sports Equipment Market Segments
The Smarts Sports Equipment market experiences a promising growth surge spurred by increased fitness awareness, technological advancements in the sports industry, and rising participation in both traditional and esports.
What Is The Projected Market Size Of The Global Smarts Sports Equipment Market And Its Growth Rate?
• The market size is anticipated to rise from $16.19 billion in 2024 to $17.74 billion in 2025, marking a compound annual growth rate (CAGR) of 9.6%.
• Factors influencing the market's historical growth trajectory include increased participation in sport, heightened fitness and health awareness, ecommerce proliferation, and higher internet penetration.
• By 2029, the market size is expected to hit $24.52 billion, translating to a CAGR of 8.4%.
• The forecast period growth will be driven by an escalating demand for fitness and athletic performance tracking, uptick in disposable income, growing engagement in recreational activities, and global economic growth.
What Is Driving The Growth In The Smarts Sports Equipment Market?
The Smarts Sports Equipment market's growth is being fueled by skyrocketing demand for data-driven analysis in sports. Modern coaching is increasingly leaning on data analytics as it integrates sensors into sports equipment for strategy development and performance evaluation on both individual and team levels. Coaches can now use data science to design highly personalized athlete matches and plans for each game. They can also pinpoint and rectify player mistakes by analyzing data collated via smart sports equipment. Forbes has projected the sports analytics market to yield over $4 billion by 2022 as it presents numerous advantages to sports organizations and players, rendering the demand for data-driven analytics a crucial growth driver for the smart sports equipment market.
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Who Are the Key Players Driving Smarts Sports Equipment Market Growth?
• NIKE Inc.
• PUMA SE
• Adidas AG
• Wilson Sporting Goods Co.
• BABOLAT VS S.A.
• HockeyShot Inc.
• Zepp Labs Inc.
• Gridiron Technologies Inc.
• MIZUNO Corporation
• Amer Sports Corporation
• Under Armour Inc.
• InfoMotion Sports Technologies Inc.
• DribbleUp Inc.
• BRG Sports LLC
• EGYM Inc.
• Kinexon GmbH
• Spektacom Technologies Pvt Ltd
• STATSports Group Ltd.
• Callaway Golf Company
• Quattriuum Inc.
• Active Mind Technology Inc.
• ANTA Sports Products Limited
• ASICS Corporation
• Garmin Ltd.
• Catapult Sports Pty Ltd.
• ShotTracker Inc.
• Blast Motion Inc.
• PIQ Sport Intelligence
• KINEXON GmbH
• Stag International Inc.
What Are The Key Trends In The Smarts Sports Equipment Market?
• Wearable health monitoring
• Integration of augmented reality (AR) in training
• Incorporation of esports and virtual sports
• Enhanced safety features
• Increased accessibility and inclusivity
What Are The Segments Of The Global Smarts Sports Equipment Market?
• By Product Type: Smart Balls, Smart Golf Sticks, Smart Hockey Sticks, Smart Racket And Bats, Others Products.
• By Connectivity Features: Smartphone Synchronization, Wireless Synching, Real Time Data Syncing.
• By Distribution Channel: Franchise Stores, Specialty Stores, Others Stores.
• By End User: Men, Women.
Which Region Leads The Smarts Sports Equipment Market?
In 2024, the largest geographic segment in the Smarts Sports Equipment market was North America. However, over the forecast period, the Asia-Pacific region is expected to register the highest growth rate.
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What Is Covered In The Smarts Sports Equipment Market Global Market Report?
- Market Size Analysis: Analyze the Smarts Sports Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Smarts Sports Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Smarts Sports Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Smarts Sports Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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