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Increase In Demand For Data-Driven Analysis Of Sporting Activities Fueling The Growth Of Smart Sports Equipment Market: Transformative Forces Shaping the Smarts Sports Equipment Market Landscape in 2025
Smarts Sports Equipment
What Will the Smarts Sports Equipment Industry Market Size Be by 2025?
In the last few years, there has been a significant expansion in the size of the smart weapons market. The market, valued at $16.19 billion in 2024, is projected to elevate to $17.74 billion in 2025, with a compound annual growth rate (CAGR) of 9.6%. The historical period growth can be attributed to factors, including increased participation in sports, enhanced health and wellness awareness, growth of e-commerce, increased internet usage, and a surge in the popularity of esports.
What's the Long-Term Growth Forecast for the Smarts Sports Equipment Market Size Through 2029?
In the coming years, the smart weapons market is anticipated to experience significant growth, with an expectation to hit $24.52 billion by 2029, boasting a compound annual growth rate (CAGR) of 8.4%. The growth during the forecast period is due to the surge in demand for fitness and athletic performance tracking, increase in disposable income, higher involvement in recreational activities, and economic development. Major trends projected during this period encompass wearable health monitoring, implementation of augmented reality (AR) in training, the fusion of esports and virtual sports, improved safety features, and the emphasis on accessibility and inclusivity.
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What Are the Key Growth Drivers Fueling the Smarts Sports Equipment Market Expansion?
The rise in the necessity for data-informed evaluations of sports activities is projected to fuel the expansion of the smart sports equipment market. In the realm of sports, data-centric analysis is utilized in contemporary coaching as sensors are incorporated into sports gear to create victorious tactics and assess the player's performance individually or within a team. Professional team coaches can employ data science to build highly customized athlete match-ups and assorted plans for each game they participate in, and they can also identify and scrutinize errors committed by players by examining the data compiled by their sports gear. Thanks to these advanced sports accessories, players can surmount their hurdles with each practice session or game by examining the data and becoming more effective. As per Forbes, a US business publication, sports analytics is expected to yield over $4 billion in revenue by 2022, as it serves various sports organizations and athletes in numerous ways. Hence, the escalating demand for data-informed evaluations of sports activities stimulates the growth of the smart sports equipment market.
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What Are the Key Trends Driving Smarts Sports Equipment Market Growth?
With the evolution and growth of the smart sports equipment market, innovative trends are beginning to take shape to align with the tech advancements within the industry. One such innovation is the Smart Sensors (Gen3+), launched by US-based company, Arccos Golf, in April 2022. Equipped with artificial intelligence and machine learning, these Smart Sensors offer automatic shot tracking, smoothly merging hardware and software to track a player's shots with utmost precision. Over the past three years, data scientists and engineers from Arccos have scrutinized over 500 million shots taken in 194 nations using Arccos sensors. This data, in conjunction with the celebrated Arccos Caddie app, offers users profound insights into Strokes Gained for each part of their game and every club they utilise.
How Is the Smarts Sports Equipment Market Segmented?
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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Which Companies Are Leading the Charge in Smarts Sports Equipment Market Innovation?
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.
Which Regions Are Leading the Global Smarts Sports Equipment Market in Revenue?
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.
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