Press release
Global Sports Technology Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Sports Technology
What Is the Projected Growth of the Sports Technology Market?
The market size of sports technology has experienced significant growth in the past few years. It is projected to increase from $20.73 billion in 2024 to $24.23 billion in 2025, boasting a compound annual growth rate (CAGR) of 16.9%. Factors contributing to this historical growth include the globalization of sports, improvements in sports broadcasting, the introduction of smart stadiums, innovation in sports equipment, and an increased emphasis on athlete safety.
The advancements in sports technology sector is projected to experience a drastic surge in the coming years, culminating to an estimated worth of $45.48 billion by 2029, with a CAGR of 17.1%. This hopeful prediction can be credited to factors such as the production of intelligent sportswear, improvements in platforms that engage fans, developing e-sports facilities, alterations in regulations, and reinforcing the power of athletes, along with sustainability efforts in sports amenities. As we look forward, emerging trends such as biomechanics, motion analysis, digital broadcasting, streaming, the use of robotics in sports training, the convergence of social media, athlete tracking systems, and the incorporation of e-sports and gaming are expected to shape the forecasts.
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What Are the Emerging Segments Within the Sports Technology Market?
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
Subsegments:
1) By Baseball: Performance Analytics Tools, Wearable Sensors, Training Aids
2) By Basketball: Shot Tracking Systems, Wearable Performance Monitors, Video Analysis Software
3) By Cricket: Ball Tracking Technology, Player Performance Analytics, Training Simulators
4) By Ice Hockey: Puck Tracking Systems, Wearable Monitoring Devices, Video Analysis Tools
5) By Tennis: Smart Tennis Rackets, Match Analysis Software, Player Tracking Systems
6) By Soccer: GPS Tracking Devices, Video Analysis And Coaching Tools, Performance Monitoring Software
7) By Rugby: Player Monitoring Technologies, Match Analysis Tools, Wearable Sensors
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What Long-Term Drivers Are Shaping Sports Technology Market Trends?
The increasing popularity of eSports is significantly fueling the expansion of the sports technology market. eSports, which are video gaming tournaments organized for audiences to witness, provide an experience similar to watching a professional sports event. They employ sports technology for the digital broadcast of these gaming contests to a wider population, thanks to improved internet speed and connectivity, and enhancement in graphics guarantees an exceptional viewer experience. A report by Esports News UK, a UK-based digital news outlet providing daily esports updates, highlighted in May 2024 that UK games event and venues revenues escalated by 140% annually, hitting £10.3 ($11.05) million in 2023 from £4.35 ($4.66) million in 2022. Consequently, the upsurge in eSports popularity will stimulate the sports technology market.
Who Are the Top Competitors in Key Sports Technology Market Segments?
Major companies operating in the sports technology market include Apple Inc., ChyronHego Corporation, Cisco Systems Inc., HCL Technologies Limited, Infosys Limited, Oracle, Panasonic Corporation, SAP SE, Sony Corporation, Stats LLC, Telefonaktiebolaget LM Ericsson, Agile Sports Technologies Inc., Athlete Intelligence, Catapult Group International Ltd., Chetu Inc., Firstbeat Technologies Oy, International Business Machines Corporation, Genius Sports, VICIS, Stack Sports, Playermaker, Strava, Nextiles, Proteus, ShotTracker, Zebra Technologies, Hawk-Eye Innovations, Sportradar, Kinexon, PlaySight Interactive, Sparta Science, MyVert, Blast Motion, CoachMePlus, Krossover Intelligence, Hudl, Coach Logic, SPT Sports, Fusion Sport, Kinduct Technologies, Kitman Labs
What Sports Technology Market Trends Are Gaining Traction Across Different Segments?
The key players in the sports technology market are prioritizing the creation of innovative performance-tracking gadgets to enhance player performance, gameplay, and spectator participation. These wearable devices, designed to monitor and dissect an individual's physical activities, aid users in evaluating their performance, creating objectives, and refining training schedules with immediate feedback. In June 2024, for example, STATSports Group Limited, a company based in the UK, released an APEX device, a high-tech tool for monitoring athlete performance. It incorporates advanced features like an augmented 18Hz GPS and a 600Hz accelerometer to achieve unmatched accuracy. This device is capable of processing over 50 metrics in real-time, supplying teams with live data that aligns seamlessly with post-training downloads. Thanks to its ground-breaking MAPPS technology, it can live-stream data with centimeter-level accuracy in various settings, including indoor and stadium environments. The APEX device, built in response to client feedback, is being considered for use across major sporting events, including the NFL, NBA, and English Premier League, promising to revolutionize the way player performance is tracked.
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Which Regions Are Becoming Hubs for Sports Technology Market Innovation?
North America was the largest region in the sports technology market in 2024. The regions covered in the sports technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Sports Technology Market?
2. What is the CAGR expected in the Sports Technology Market?
3. What Are the Key Innovations Transforming the Sports Technology Industry?
4. Which Region Is Leading the Sports Technology Market?
Why This Report Matters:
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Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
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