29-Jul-2020 | Zion Market Research
Based on the noteworthy information available in the recently published global sports technology market report, the market valuation had reached around USD 11 billion by 2019. Analysts at Zion Market Research comprehensively examined the global sports technology market and estimated that the market would propel rapidly during the projected period at a CAGR of nearly 21.4%, attaining the value of approximately 41.88 Billion by 2026.
The global sports technology market report provides exhaustive information regarding the key market players including production, sales, performance, and revenue generation at the global and regional levels. All the key players in the sports technology market are listed as follows: Tent, Cisco, Modern Times Group, Apple, Sharp, Oracle, IBM, Sony, Fujitsu, Panasonic, Ericsson, CJ Corporation, Fitbit, Activision Blizzard, Samsung, LG, SAP, Garmin, and NEC.
In 2018, IBM was holding a leading position in two different segments: sports analytics and smart stadium. The major focus of IBM is to enhance product functionality by designing advanced equipment and by incorporating innovative capabilities in its existing product portfolio. The renowned information technology company holds proficiency in managing huge data through advanced analytics technologies, which assists its clients in effectively organizing the big data gathered from internet devices and network elements.
Advanced IoT Technologies Adoption & Satisfactory Engagement By Audience Likely To Spur The Global Market
The audience has started engaging significantly in the events organized across the globe, and this attempt is likely to prompt the demand for sports technology in the coming few years. Along with this, the incorporation of advanced IoT technologies for effective management of the infrastructure of stadiums is projected to surge the global sports technology market throughout the forecast period. Even some regions have legalized sports betting, which is also going to influence the market growth for a specific period.
Apart from managing the stadiums’ infrastructure, artificial intelligence and huge data analytics technology is efficient enough to handle online ticketing, athlete training, sponsorship activation, and performance evaluation, among others. The introduction of new types of sports technologies has assisted players to carry out effective and improved training sessions. For instance, a German-based multinational corporation, Adidas introduced the miCoach Elite System to evaluate athletic performance such as sprint, acceleration, and strength.
The global sports technology market report categorizes the global market into multiple segments on the basis of sports, technology, and geography. By sports, the global market is segmented into baseball, soccer, ice hockey, basketball, tennis, rugby/American football, esports, golf, cricket, and others. By technology, the market is segregated into the smart stadium, device, sports analytics, and esports.
The sports technology market is being driven with the increasing penetration of cloud computing and Internet services in almost all the sectors, the scheduled organization for professional leagues, and various attempts set by the countries to make their nations digitalized. Extensive participation in occasional sports league trends such as badminton, cricket, athletics, hockey, and esports by China, Bangladesh, India, Sri Lanka, Australia, and Pakistan is likely to drive the Asia Pacific market. Effective utilization of IoT, social media analytics, cloud computing, internet adoption, and smart devices are among the major tech growth prospect across the region.
Browse the full “Global Sports Technology Market - By Sports (Baseball, Soccer, Ice Hockey, Basketball, Tennis, Rugby/American Football, Esports, Golf, Cricket, And Others), By Technology (Smart Stadium, Device, Sports Analytics, And Esports), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/sports-technology-market
The report segments the global sports technology market as follows:
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