Sports Technology Market on Track for Strong Growth, Estimated to Grow at 16% CAGR Through 2029

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What Is the Expected CAGR for the Sports Technology Market Through 2025?
The size of the sports technology industry has seen significant expansion in the past few years. The market's value is expected to increase from $20.73 billion in 2024 to $23.94 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 15.5%. Several factors can justify this growth in the historic period, including the globalization of sports, advancements in sports broadcasting, the emergence of intelligent stadiums, innovative sports equipment, and an increased emphasis on athlete safety.

What's the Projected Size of the Global Sports Technology Market by 2029?
In the coming years, we can anticipate a swift expansion in the sports technology market size. This growth is projected to reach $43.28 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 16.0%. This growth during the forecast period can be credited to the progress in smart sports apparel, improvements in engagement platforms for fans, e-sports infrastructure progression, regulatory modifications, athlete empowerment, and sustainability within sports venues. The major trends expected within the forecast period include biomechanics and motion monitoring, digital broadcasting and streaming, robotics use in training, integrating social media, athlete tracking systems, and the blending of e-sports and gaming.

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Top Growth Drivers in the Sports Technology Industry: What's Accelerating the Market?
The escalation of eSports engagement plays a major role in the upward trajectory of the sports technology market. eSports are essentially video gaming contests held on organized platforms that emulate a real sporting event for spectators. The use of sports technology here is mainly for broadcasting the video game contests to a wider audience by improving internet speed and connectivity, and enhancing graphic quality for a better viewer experience. For example, Esports News UK, a UK-based digital publication that offers daily updates on UK esports, reported in May 2024 that visitation and revenue from UK game events and venues experienced a massive 140% surge year-on-year, tallying to £10.3 ($11.05) million in 2023 from a prior £4.35 ($4.66) million in 2022. As a result, the increasing presence and influence of eSports is seen to be a major driver for the sports technology market.

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What Trends Will Shape the Sports Technology Market Through 2029 and Beyond?
Key players in the sports tech industry are concentrating their efforts on creating innovative performance-tracking devices to enhance gameplay, fan involvement, and athlete performance. Such devices, which can be worn, keep tabs on and interpret a person's physical activities. By offering real-time feedback, they aid users in evaluating their performance, setting objectives, and fine-tuning their training schedules. For example, in June 2024, a software company based in the UK, STATSports Group Limited, introduced the APEX device. This device is an advanced tool for tracking athlete performance, equipped with state-of-the-art technologies like augmented 18Hz GPS and a 600Hz accelerometer for superior precision. The device can measure more than 50 metrics in real time, delivering live data that accurately matches post-session downloads. The revolutionary MAPPS technology allows for accurate, centimeter-level live data streaming in varied settings, such as indoors and stadiums. APEX, developed in response to customer feedback, is expected to be widely used in major sports leagues like the NFL, NBA, and English Premier League, further improving athlete performance monitoring.

What Are the Main Segments in the Sports Technology Market?
The sports technologymarket 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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Which Top Companies are Driving Growth in the Sports Technology Market?
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

Which Regions Will Dominate the Sports Technology Market Through 2029?
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

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