The sports
technology market was valued at USD 8.9 billion in 2018 and is projected to
reach USD 31.1 billion by 2024; it is expected to grow at a CAGR of 20.63%
during the forecast period. The market growth can be attributed significant
improvement in audience engagement, growing demand for data-driven decisions
and operations, and increasing sports events, online and offline.
Leading
players in the sports technology market includes IBM (US), Ericsson (Sweden),
Cisco (US), Fujitsu (Japan), SAP (Germany), Oracle (US), NEC (Japan), LG
(South Korea), Sharp (Japan), Samsung (South Korea), Fitbit (US), Apple (US),
Garmin (US), Sony (Japan), Panasonic (Japan), Modern Times Group (Sweden),
Activision Blizzard (US), Tencent (China), and CJ Corporation (South Korea).
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Top
players in the AFA market:
IBM was a leader in 2 of the segments: smart
stadium and sports analytics. IBM focuses on organic growth by continuously
expanding its product capabilities. The company holds expertise in big data and
analytics technologies, which helps its customers in leveraging the huge amount
of data generated from network elements and internet devices. With ample
resources and expertise, IBM was a leading player in the smart stadium and
sports analytics markets.
Modern Times Group (MTG) is the leader in
esports business. It is an international digital entertainment company. In
November 2015, MTG acquired DreamHack (Sweden) for USD 28 million. Also in July
2015, the company had acquired 74% share in Turtle Entertainment (Germany), the
owner of the ESL brand, for USD 87 million to strengthen its esports business.
MTG focuses on partnering with global brands and event organizing companies.
The company strives aligning with the latest market trends by organizing major
esports events. For instance, in February 2018, ESL, the brand acquired by MTG,
organized IEM Katowice tournament, featuring Dota 2 tournament, CS: GO
tournament, StarCraft II tournament, and Heroes of the Storm tournament.
Apple is one of the most innovative
companies, which designs and develops hardware, application software, and
services for different consumer electronics products. Apple was market leader
in sports wearables market. In the digital signage market, Samsung was the
leading player. In June 2018, Apple updated the Apple watch with watchOS5. The
company introduced new activity and communications features such as auto
workout detection, Wi-Fi, and cellular connectivity. The company provides
sports technology solutions through Samsung Display solutions. In the camera
market, Sony was the leading player. Sony has a strong brand image worldwide,
especially for electronic products and is also working on AI technologies to
bring new capabilities to its electronics products. In May 2016, Sony (Japan)
invested in Cogitai, an American start-up that specializes in AI. The company
focuses on developing novel AI technologies using deep reinforcement learning
with prediction technology in collaboration with Cogitai.
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