Sports Technology Market Overview: Market Size, Major Drivers And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global sports technology market size is expected to grow from $15.14 billion in 2022 to $17.88 billion in 2023 at a compound annual growth rate (CAGR) of 18.12%. The global sports technology market size is expected to reach $33.01 billion in 2027 at a CAGR of 16.56%
What will drive the sports technology market?
Increasing eSports penetration is likely to promote innovation in sports technology production, boosting the market during the forecast period.
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Who are the major players in the market?
Major Market Players in the sports technology market include Apple Inc., ChyronHego Corporation, Cisco Systems Inc., HCL Technologies Limited, IBM Corporation, Infosys Limited, Modern Times Group MTG.
Which trend is gaining popularity in the sports technology market?
The primary trend gaining traction in the sports technology industry is technological improvement. Major sports technology businesses are concentrating on developing new technologies to improve games, spectator engagement, and player performance.
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How is the sports technology market segmented?
Global Sports Technology Market Segments Include:
- By Sports Type: Baseball, Basketball, Cricket, Ice Hockey, Tennis, Soccer, Rugby
- By Technology: Device, Smart Stadium, Esports, Sports Analytics
- By End-User: Sports Associations, Clubs, Leagues, Athletes, Coaches
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global sports technology market in 2021.
The Sports Technology Global Market Report 2023 provides an overview of the sports technology market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The sports technology market forecast analyzes sports technology market size, sports technology market share, leading competitor and their market positions.
Sports technology refers to human-created technologies that further human interests or aims in or connected to a certain sport. By combining the best components of engineering science, measurement, and analysis, as well as sports science, sports technology ties the playing, or use, features of sporting equipment to the guiding principles of product design. It contributes to this by providing up-to-date understanding of manufacturing techniques and materials, allowing for improvements in the functionality and performance of athletic goods.
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