Global Sports Technology Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Sports Technology Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global sports technology market report has been segmented on the basis of component type, sports type, application, and region.

Global Sports Technology Market: Overview

Use of technology in sports proliferates high audience engagement by offering exquisite visualization. On-going trend observed in the global market is increasing use of advanced screening technology in order to offer statistics such as displaying players with past, present, and futuristic statistical data, etc. Use of technology is also made for some thematic applications such as for e-sports, clothing and wearables, coaching and competition analysis, media broadcasting and communications, human/player performance analysis, business transformation by digital offerings, entertainment, sporting facility planning, and many others.

Global Sports Technology Market: Dynamics

Growing need for high TRP ratings in the media and entertainment sector is significantly improving. The strategies are used for audience engagement. Technological advancements in service offering is increasing in today’s era. Thus, making it a factor to boost growth of the target market in the near future.

Increasing proliferation of sport related devices with technological advancement is another factor expected to drive growth of the global market.

Moreover, availability of sports data that is generate by various sports event, games, and others is growing demand for data-driven operations and decisions which can help in analyzing a team or player is among some of the major factors expected to bolster market growth globally.

However, high initial investment associated with technological products such as analytic visualization, and budget constraints associated with the sports committee for promotional events are major factors that could restraint growth of the global market.

Complexities and high cost associated with replacement and upgradation of legacy systems and risk associated with technology glitches at live or real-time events are some major challenging factors expected to hamper growth of the target market to a certain extent.

Global Sports Technology Market: Segment Analysis

Among the component type segments, the device segment is expected to register high revenue growth in the global market. Increasing adoption of devices such as wrist wear, AR/VR, smart clothing, and others is boosting high growth of the devices segment in the global market. among the device segments the, camera sub segment is expected to account for high revenue share and support growth of the device segments in the near future.

Whereas, among the application segments, the passive segment is expected to dominate in the global market and register high revenue share in the target market. The passive segment growth if primarily due to increasing need for analytical solutions in decision making scenarios.

Global Sports Technology Market: Region Analysis

The Asia Pacific market is expected to dominate in the global market. High presence of prominent electronic manufacturing players and increasing penetration of smart electronics in countries in this region. Countries such as India and China are expected to contribute high revenue in the global market, owing to increasing sports activities and growing adoption of technological services in Asia Pacific region.

Global Sports Technology Market Segmentation:

Segmentation by Component Type:

• Device
• Smart Stadium
• Services
• E-sports
• Sports Analytics

Segmentation by Sports Type:

• Soccer
• Tennis
• Cricket
• Basketball
• American Football/Rugby
• Others (Ice Hockey, Badminton, Golf, Hockey, etc.)

Segmentation by Application:

• Active
  • Tracking
  • Decision Making
• Passive
  • Training
  • Analytics and Statistics
  • Tactics and Simulation
  • Game Performance Analysis
  • Team Analysis & Management
  • Injury and Health Analysis

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa