Sports Technology Market is Anticipated to reach USD 47.1 billion, grow at a CAGR of 10.70% from 2023 to 2032
Sep 14, 2023
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Sports Technology Market Insights:
The global sports technology market is likely to witness continually increasing demand and revenues. The growing uptake of various innovative sports technologies and evolving IoT and wired & wireless technologies would drive the market. Besides, the growing popularity of eSports and the advantages that sports technologies offer escalate the market demand.
With the rising demand, the market is projected to generate more revenues and profit to efficiently improve decision-making power and converging rate potential by providing real-time data. Market Research Future (MRFR) confirms that the global sports technology market value is poised to grow from USD 18.9 BN in 2022 to USD 47.1 BN by 2032, registering a 10.70% CAGR during the assessment period (2023-2032).
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Key Players:
- Apple Inc.
- Infosys Limited
- Stats Perform
- Cisco Systems
- SAP SE
- Sony Corporation
- Panasonic Corporation
- IBM Corporation
- Oracle Corporation
- Modern Times Group
- HCL Technologies Limited
- Catapult Sports,
are the notable vendors in the Sports Technology market.
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Sports Technology Market Regional Analysis:
North America dominates the global sports technology market, with vast technological advances and the rising demand for advanced technologies. Besides, increasing sales of cutting-edge sports systems that help collect accurate, real-time, and actionable data increases the regional market size. With stricter pandemic mandates by the state governments, the US leads the sports technology market in the region. The North American sports technology market will dominate throughout the forecast period.
Sports Technology Market Segmentation:
The report is segmented into sports, technologies, and regions. The technology type segment is sub-segmented into devices (wearable, digital signage, cameras, others), smart stadiums (stadiums & public security, building automation, event management, others), statistics & analytics, and e-sports (ticketing & merchandising, sponsorship, advertising, others). The sports segment is sub-segmented into baseball, basketball, cricket, ice hockey, tennis, soccer, rugby, and others. By region, the sports technology market is segmented into the Americas, Europe, Asia-Pacific, Middle East & Africa, and the rest of the world.
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Aug. 17, 2023 -– Globant, a leading IT services provider and Spanish soccer's LaLiga, announced a partnership with Microsoft to create a range of AI services for the sports industry. In 2022, Globant and LaLiga entered a joint venture to accelerate development and commercialize innovations from the in-house LaLiga Tech division.
The partnership includes access to cloud infrastructure and advanced AI models, and the initial focus is on coaching tools, real-time subtitles, and content translation. The partnership will enable LaLiga to create a suite of tools for coaching, fan engagement, and broadcasting. It will focus on soccer before expanding to other sports.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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