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Increase In Demand For Data-Driven Analysis Of Sporting Activities Fueling The Growth Of Smart Sports Equipment Market: An Emerging Driver Transforming The Smarts Sports Equipment Market Landscape
Smarts Sports Equipment
What Is the Projected Growth of the Smarts Sports Equipment Market?
In the past few years, there has been substantial growth in the smart weapons market size. The market value, which was $16.19 billion in 2024, is projected to increase to $17.74 billion in 2025. This denotes a compound annual growth rate (CAGR) of 9.6%. Factors contributing to this growth during the historic period include increased participation in sports, heightened awareness of health and wellness, growth in e-commerce, increase in internet accessibility, and the rise of esports.
The intelligent weaponry market is predicted to witness robust expansion in the forthcoming years, with the market size swelling up to $24.52 billion in 2029 at a compound annual growth rate of 8.4%. The surge in the market during the forecast period can be credited to factors such as a heightened interest in monitoring physical fitness and athletic prowess, an increase in disposable income, more involvement in leisure activities, and economic growth. Prevailing trends in the prediction timeline encompass wearable health tracking devices, integration of augmented reality (AR) into training, incorporation of esports and virtual sports, enhanced safety mechanisms, and expansion towards accessibility and inclusivity.
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What Are the Different Smarts Sports Equipment Market Segments?
The smarts sports equipment market covered in this report is segmented -
1) By Product Type: Smart Balls, Smart Golf Sticks, Smart Hockey Sticks, Smart Racket And Bats, Others Products
2) By Connectivity Features: Smartphone Synchronization, Wireless Synching, Real Time Data Syncing
3) By Distribution Channel: Franchise Stores, Specialty Stores, Others Stores
4) By End User: Men, Women
Subsegments:
1) By Smart Balls: Smart Footballs, Smart Basketballs, Smart Soccer Balls, Smart Tennis Balls
2) By Smart Golf Sticks: Smart Golf Clubs, Smart Putters, Golf Swing Analyzers
3) By Smart Hockey Sticks: Smart Ice Hockey Sticks, Smart Field Hockey Sticks
4) By Smart Rackets and Bats: Smart Tennis Rackets, Smart Badminton Rackets, Smart Baseball Bats, Smart Softball Bats
5) By Other Products: Smart Fitness Equipment, Smart Wearables, Smart Training Aids
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What Are the Primary Drivers Shaping the Smarts Sports Equipment Market?
The smart sports equipment market is set to grow due to the rising need for data-based analysis in sports. Data analytics in sports has become a critical aspect of contemporary coaching, with sensors incorporated into sports gear to establish winning tactics and assess individual and team performance. The coaches of professional teams can leverage data science to create ultra-personalized athlete pairings and other strategies for each match, as well as pinpoint and scrutinize player errors by examining data gathered via sports gear. These cutting-edge sports tools enable players to tackle their challenges during each practice or match by interpreting data for improved effectiveness. Forbes, a leading American business magazine, predicts that by 2022, sports analytics will produce more than $4 billion in revenue, benefiting many sports entities and athletes. Consequently, the rising need for data-driven sporting analysis is fueling the growth of the smart sports equipment market.
Which Companies Are Leading in the Smarts Sports Equipment Market?
Major companies operating in the smarts sports equipment market include 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 Major Trends Shaping the Smarts Sports Equipment Market?
With the expansion of the smart sports equipment market, novel trends are evolving to align with the technological growth enveloping the market. One such innovation is Smart Sensors (Gen3+), launched by US-based company Arccos Golf, in April 2022. The Arccos Smart Sensors (Gen3+) offer automatic shot tracking facilitated by artificial intelligence and machine learning, meticulously merging hardware and software to locate a player's shots with greater precision. In the past three years, Arccos Data Scientists and Engineers have scrutinized over 500 million shots fired in 194 countries via Arccos sensors. This information, when amalgamated with the award-winning Arccos Caddie app, delivers users with Strokes Gained insights for every facet of their gameplay and for every club in their collection.
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What Are the Top Revenue-Generating Geographies in the Smarts Sports Equipment Market?
North America was the largest region in the smart sports equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smarts sports equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smarts Sports Equipment Market?
2. What is the CAGR expected in the Smarts Sports Equipment Market?
3. What Are the Key Innovations Transforming the Smarts Sports Equipment Industry?
4. Which Region Is Leading the Smarts Sports Equipment Market?
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