Dublin, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The "Global Sports Technology Market by Technology (Devices, Smart Stadiums, Sports Analytics, Esports), by Sport (Soccer, Baseball, Basketball, Ice Hockey, Rugby, Tennis, Cricket), End User (Sports Associations, Clubs, Leagues) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The sports technology market is estimated to grow from USD 21.9 billion in 2022 to reach USD 41.8 billion by 2027; it is expected to grow at a CAGR of 13.8% from 2022 to 2027. The growth of the sports technology market can be attributed to increasing focus on delighting and engaging fans at stadiums, growing pressure to improve player and team performance, and rising implementation of IoT technologies for efficient management of stadium infrastructure.
The sports technology market for sports analytics is expected to grow at the highest CAGR from 2022 to 2027
Sports analytics solutions not only help coaches and management but also provide the means for individual players to analyze and improve their performance. The use of sports analytics is not limited to fields and players, but various sports organizations are also using data-driven decision-making to improve their hospitality and audience experience. Thus, sports analytics solutions help sports organizations to improvise in multiple domains by making data-driven decisions that help increase profitability.
The sports technology market in Europe is expected to grow at the second highest CAGR during the forecast period.
Europe has the greatest number of professional and reputable football associations and clubs in the world. Different European football leagues, such as the Barclays English Premier League, Bundesliga (Germany), Scottish Premier League (Scotland), and La Liga (Spain), take place at regular intervals, and the management of these associations invest heavily in technologies for effective monitoring of games and players. Major football clubs, such as Manchester United, Arsenal, Chelsea, Real Madrid, Barcelona, and Liverpool, are part of such leagues.
Market Dynamics
Drivers
- Increasing Focus on Delighting and Engaging Fans at Stadiums
- Pressing Need for Data-Driven Decisions
- Growing Pressure to Improve Player/Team Performance
- Surging Adoption of Esports Technology
- Rising Implementation of IoT Technologies for Efficient Management of Stadium Infrastructure
Restraints
- High Initial Investments and Budget Constraints
Opportunities
- Advent of AI and Ml Technologies
- Emergence of Sports Leagues and Events with Large Prize Pools
- Increasing Adoption of AR and VR in Sports
Challenges
- Lack of Professionals with Analytical Skills
- Complexities in Upgrading and Replacing Legacy Systems
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Sports Technology Market, by Technology
6.1 Introduction
6.2 Devices
6.3 Smart Stadiums
7 Sports Technology Market, by Sport
7.1 Introduction
7.2 Soccer
7.3 Baseball
7.4 Basketball
7.5 Ice Hockey
7.6 American Football/Rugby
7.7 Tennis
7.8 Cricket
7.9 Golf
7.10 Esports
7.11 Others
8 Sports Technology Market, by End-user
8.1 Introduction
8.2 Sports Associations
8.3 Clubs
8.4 Leagues
8.5 Athletes
8.6 Coaches
9 Sports Technology Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Activision Blizzard
- Apple Inc.
- Arri
- Catapult
- Cisco
- Coach Logic
- Dartfish
- Ericsson
- Exlservice Holdings, Inc.
- Fitbit
- Fujitsu
- Garmin Ltd.
- Hudl
- IBM
- Longomatch
- Modern Times Group
- Nacsport
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- Sap Se
- Sas Institute Inc.
- Sharp Corp.
- Sony Group Corp.
- Spiideo
- Stats Perform
- Valve Corp.
For more information about this report visit https://www.researchandmarkets.com/r/d5rw59
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