Global Sports Technology Market

 Global Sports Technology Market was valued at US$ 7.2Bn in 2019 and is expected to reach US$ 36.3Bn by 2027, at a CAGR of 22.41%during a forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

The key drivers for the growth of the sports technology market are the advancement in the technology and the enormous demand for the technology, which makes the tasks easy and less time consuming for the better management of the events and activities. Growing user awareness about the competitive advantage providing by these systems is likely to drive market growth during the forecast period.

However, the high upfront costs required for employing the sports analytics systems is the major factor hampering the growth of the market. This factor is witnessed to have a greater impact on sports or teams with less revenue, creating a challenge for the sports analytics market, with regard to its incorporation in small-scale or regional teams and associations.

Based on device segment, wearable sub-segment is leading the global market for sports technology. Wearable electronic devices find various applications in fitness and sports for monitoring parameters for instance sleep, calorie consumption, heart rate, and blood pressure.
By sports, football/rugby segment is expected to grow at a very high pace during the forecast period. The market for sports analytics in football held an important share, owing to a growing attendance for football leagues, for instance, UEFA Champions League, EPL, ISL MSL and rising fan-base, media and sponsors engagement. Various elite clubs view analytics as football’s next frontier.

Region-wise, North America led the sports technology market in 2017 with a market share of 54.8% and is expected to continue its dominant trend during the forecast period as well. The demand for this technology has been increasing because of the increasing need to better manage the performance of the industry including clubs, leagues, and association.
The leading industry players including IBM, SAP, and Daktronics are using technological advancements to capture the market through given that online registrations and sponsorships used for securing the media rights. The major drivers for the expansion of the sports technology market include the advancement in technology and the massive demand for software that makes the tasks seamless and less time consuming for efficient management of the events.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Sports Technology Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Sports Technology Market.
Scope of the Global Sports Technology Market

Global Sports Technology Market, By Technology

Devices
Wearables
Digital Signage
Camera
Smart Stadium
Software
Stadium & Public Security
Building Automation
Event Management
Others
Services
Analytics & Statistics
Esports
Tickets & Merchandise
Sponsorship & Advertisement
Others
Global Sports Technology Market, By Sports

• Soccer
• Baseball
• Basketball
• Ice Hockey
• Football/Rugby
• Tennis
• Cricket
• Golf
• Esports
• Others
Global Sports Technology Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global Sports Technology Market

• IBM
• Ericsson
• Cisco
• Fujitsu
• SAP SE
• Oracle
• NEC
• LG
• Sharp
• Samsung
• Fitbit
• Apple
• Garmin
• Sony
• ARRI
• Panasonic Corporation
• Modern Times Group
• Activision Blizzard
• Valve Corporation
• Tencent
• CJ Corporation

For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-sports-technology-market/29807/

 

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