Sports Technology Market Trends, Size, Strategy, Applications Analysis and Growth by Forecast to 2029

pranit savgave

Dec 2, 2022 • 3 min read

Sports Technology Market

Sports Technology Market Overview:

In 2021, the Sports Technology Market was worth US$ 13.65 billion. Over the course of the study period, it is anticipated that the sports technology market will grow due to the increasing use of emerging technologies such as data analytics, artificial intelligence (AI), and machine learning (ML) across a range of sporting leagues and events. The importance of audience participation is stressed by team management, and this, along with the digitalization of sporting events, is predicted to raise demand for technology-driven sports decision-making. As more businesses invest in implementing cutting-edge technologies to monitor players' health and stats performance while enticing spectators, the industry is undergoing a transformation.

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Sports Technology Market Research methodology:

To estimate and validate the size of the global Sports Technology market, top-down and bottom-up approaches are used. Players closely adhere to various industry classification criteria in order to compile a comprehensive list of functional and relevant players. A rigorous validation test is also carried out in order to identify the most relevant competitors for the survey in the Sports Technology market. Priority lists are ordered based on revenue generated based on the most recent reporting using paid databases such as Factiva, Bloomberg, and others.

Finally, the questionnaire was established and specifically designed to meet all requirements for gathering primary data via prior appointment, with a focus on the primary target categories, including This helps us collect data on player revenue, operational cycle and spending statistics, profit, and product or service growth, among other things. The vast majority of data—roughly 70-80 percent—is gathered through primary media and then verified through secondary sources such as authorities, the World Bank, associations, business websites, SEC filings, OTC BB, USPTO, EPO, annual reports, press releases, and so on.

Sports Technology Market Segment:

Soccer had the largest market share in terms of sport in 2021. FIFA gave team analysts the right to communicate with coaches during live matches in real-time regarding player performance in March 2018. At the 2018 FIFA World Cup, the Video Assistant Referee (VAR) was initially used to aid on-field officials in making decisions. Technology can be used in soccer to gather useful information about a player's fitness and make defensible decisions. Digitalization also makes it possible for supporters to interact with football clubs outside of a 90-minute match. Because of this, despite its slow start, technological use in soccer has been expanding recently.

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Sports Technology Market Key players:

Cisco
Fujitsu
SAP SE
Oracle
NEC
LG
Sharp
Samsung
Fitbit
Apple
Garmin
Sony
ARRI
Panasonic Corporation
Modern Times Group

Sports Technology Market COVID 19 Impact:

COVID-19 can have three major effects on the global economy: direct changes in supply and demand, market and supply chain disruptions, and economic impacts on businesses and financial markets. Following the COVID-19 issue, our researchers, who are monitoring the situation globally, predict that the market will present producers with enticing opportunities. The report's goal is to highlight the sector-wide effects of the current environment, the economic downturn, and COVID-19 in greater detail.

Sports Technology Market Regional Analysis:

On the basis of geography, the Sports Technology market is segmented into 5 main regions and they are- North America, Europe, Asia Pacific, the Middle East, Africa, and South America respectively.

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