The global sports technology market size is expected to reach
USD 34.99 billion by 2025, growing at a CAGR of 20.3% over the forecast period,
according to a study conducted by Grand View Research, Inc. The growing
adoption of IoT technologies, coupled with the integration of social media with
stadium technologies, and the need for real-time player statistics are the key
factors driving the market growth over the forecast period. Additionally,
upcoming international and national sports events and substantial enhancements
in spectators engagement are expected to surge the demand for sports
technology.
Stadiums across developed and emerging
economies are being renovated to offer facilities such as better smart parking,
operational efficiency, enhanced security, and next-generation viewing
experience. Currently, Artificial Intelligence (AI)-based sports analytics is
of key importance while developing strategies for boosting individual
performance, scouting new talent, and reducing injuries. Moreover, the
increasing focus on delighting & engaging fans at the stadium and growing
demand for data-driven decisions & operations are also expected to
influence the market growth. Additionally, the U.S. Supreme Court has legalized
sports betting, which is expected to positively influence the market growth.
The growth of the European region can be
attributed to the increasing disposable income and rising demand for wearable
devices in emerging economies such as Russia, Poland, Greece, and Turkey. The
emergence of professional leagues, digitalization of sports, and increasing
penetration of internet & cloud technology are driving the Asia Pacific
market growth. Moreover, sports organizations, including New Zealand Cricket,
Indian Premier League (IPL), Sahara Force India, and Melbourne Cricket
Association, are using advanced technologies for hosting tournaments.
For full research report on Sports
Technology Market visit here: https://www.grandviewresearch.com/industry-analysis/sports-technology-market
Further key
findings from the study suggest:
- The smart stadium segment is expected to
dominate the market by 2025 owing to the increasing construction of smart
stadiums across emerging economies
- The basketball segment is projected to
register a CAGR of 21.0% from 2019 to 2025 as market players are focused
on developing new ways to integrate wearable technologies in basketball
games
- The Asia Pacific regional market is estimated
to register a CAGR of 23.0% over the forecast period owing to growth in
social media analytics, IoT, internet adoption, and smart devices
- The prominent market players include IBM
Corporation; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; SAP SE,
among others.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/sports-technology-market/request/rs1
Grand
View Research has segmented the global sports technology market on the basis of
technology type, sports, and region:
Sports
Technology Type Outlook (Revenue, USD Million, 2015 - 2025)
- Devices
- Wearables
- Digital Signage
- Camera
- Smart Stadium
- Software
- Stadium &
Public Security
- Building
Automation
- Event Management
- Others
- Services
- Analytics &
Statistics
- Esports
- Tickets &
Merchandise
- Sponsorship &
Advertisements
- Others
Sports
Technology Sports Outlook (Revenue, USD Million, 2015 - 2025)
- American
Football/Rugby
- Baseball
- Basketball
- Cricket
- Golf
- Ice Hockey
- Tennis
- Soccer
- Others
Regional
Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South
America
- Europe
- Germany
- U.K.
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia
Pacific
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
No comments:
Post a Comment