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Top Trends Transforming the Sports Tracking Market Landscape in 2025: Technological Advancements In GPS-Based Player Tracking Systems Enhanced Market Growth
Sports Tracking
What Will the Sports Tracking Industry Market Size Be by 2025?
The market size of sports tracking has seen substantial growth in the past few years. It is projected to expand from $2.98 billion in 2024 to $3.24 billion in 2025, presenting a compound annual growth rate (CAGR) of 9.0%. The growth witnessed in the historical timeframe can be associated with factors such as the rising appeal of sports tracking gadgets, an upsurge in sports investments, growing worries over contact tracing, heightened focus on real-time data, and the increasing utilization of sports analytics.
What's the Long-Term Growth Forecast for the Sports Tracking Market Size Through 2029?
The size of the sports tracking market is anticipated to witness robust growth in the upcoming years, expanding to a value of $4.54 billion by 2029, with a compound annual growth rate (CAGR) of 8.8%. Factors contributing to this forecasted growth are the increasing popularity of sports betting, the escalated demand for predictive information on fan preferences, personalized coaching and advice, a surge in demand for visual technologies, and the growing use of mobile-oriented applications. Key trends predicted for this period include GPS tracking and route mapping, advancements in esports technology, predictive analytical software, biometric sensors and health monitoring, and the integration of weather data.
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What Are the Key Growth Drivers Fueling the Sports Tracking Market Expansion?
The surge in health awareness is projected to fuel growth in the sports tracking market in the future. Health awareness encompasses the comprehension, knowledge, and active measures that individuals and communities take to preserve or enhance their health and wellness. This heightened awareness is a result of escalating healthcare costs, trends in preventive care, the influence of media, environmental consciousness, demographic changes, the growth of the wellness industry, and a cultural focus on self-care and mental health. Sports tracking amplifies this health awareness by offering real-time data and insights into physical activity, promoting accountability and enlightened choices for healthier living. For example, in May 2023, data from the Office for National Statistics, a UK-based statistics agency, showed that the UK's healthcare expenditure was around $354.88 billion (£283 billion) in 2022, marking a modest increase of 0.7% compared to 2021's spending. Hence, this rise in health awareness is spearheading the sports tracking market's growth.
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What Are the Key Trends Driving Sports Tracking Market Growth?
Key players in the sports tracking market, such as Kinexon AG, are enhancing their competitive edge by creating advanced systems like GPS-based player tracking technology. This form of technology plays a crucial role in monitoring and analyzing the performance and movements of athletes during games and training sessions. For example, as of May 2023, Kinexon AG, a German firm specializing in real-time player tracking solutions, introduced the Kinexon Perform GPS Pro. This sophisticated GPS-based player tracking mechanism is designed specifically for coaches to use in football, soccer, and various outdoor team sports. The product's innovative features include real-time tracking, over 100 performance metrics, live data streaming to the AWS Cloud, automated data processing, and wireless charging, marking it as a highly advanced GPS-based system for tracking players in outdoor team sports.
How Is the Sports Tracking Market Segmented?
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
Subsegments:
1) By Hardware: Wearable Devices (Smartwatches, Fitness Bands), Sensors (GPS, Accelerometers, Heart Rate Monitors), Smart Clothing Or Footwear, Cameras (Action Cameras), Smart Helmets, Tracking Devices (GPS Trackers, Heart Rate Monitors)
2) By Software: Mobile Applications, Cloud-Based Platforms, Analytics Software, Performance And Health Tracking Software, Virtual Coaching Software, AI-Based Performance Prediction Tools, Data Visualization And Reporting Tools
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Which Companies Are Leading the Charge in Sports Tracking Market Innovation?
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
Which Regions Are Leading the Global Sports Tracking Market in Revenue?
North America was the largest region in the sports tracking market in 2024. The regions covered in the sports tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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