The global sports technology market
was valued at USD 17.9 billion in 2021 and is expected to reach USD 40.2
billion by 2026, at a CAGR of 17.5% between 2021 and 2026. In the recent years,
professional sports bodies have adopted new technologies such as sports data
analytics, smart stadiums, wearable devices, and digital signage to enhance
their team performance, engage fans, and provide smart infrastructures. Smart
stadiums are among the key global trends owing to the increase in the number of
sports events being held worldwide. Technological innovations in smart stadiums
drive the execution of several projects worldwide. The growth opportunities for
the sports technology market are high in Europe and APAC owing to favorable
economic and sports environments. 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), Catapult Sports
(Australia), 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).
Top Market Players in Sports Technology:
Apple is one of the most innovative companies,
which designs and develops hardware, application software, and services for
different consumer electronics products. The company has a prominent focus on
R&D. This has helped the company yield profits and increase its revenue
over the past few years. It has displayed an impressive top-line growth through
its innovative products. For the sports wearables market, Apple has a broad
range of high-performance products such as wireless AirPods (earbuds) and Apple
watch with virtual assistants and additional AI functionalities to detect early
signs of strokes and diabetics.
IBM is one of the leading smart stadium and
sports analytics products and solutions providers. Its product ecosystem
consists of Building Management Center, IBM Intelligent Operations Center, IBM
Social Media Analytics, IBM Sports Enterprise 360/365, Identity and Access
Security, and Application Security. These solutions enable enhancing spectator
experience and optimizing stadium operations. IBM has recently announced
innovative new fan experiences leveraging AI, underpinned by hybrid cloud
technologies. This will enable millions of fans worldwide to experience the
excitement and vibrant environment surrounding events such as the Grand Slam,
where fans were restricted to experience the matches at home due to COVID-19
restrictions. IBM has been associated with major sports events, such as the
Master Golf Tournament, U.S. Open Golf Tournament, French Open, Australian
Open, and Wimbledon.
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Cisco has grown from being a seller of
individual products and services to a seller of entire networking architecture
and solutions. The company is one of the smart stadium market leaders. Cisco’s
StadiumVision transforms and boosts the intensity of any sport for spectators.
The Cisco Connected Stadium Wi-Fi Solution (a high-density Wi-Fi solution)
enables fans to indulge in social media activities within stadiums. Cisco’s
core strength lies in offering innovative products and solutions. The company
spends considerable portions of its revenue on R&D; it spent USD 6.3 billion
in 2020. Its strong R&D helps in developing and enhancing product
capabilities to gain a competitive edge in the market.
Activision Blizzard is one of the leading
esports companies that develops and publishes interactive entertainment content
and services for multiple platforms, including video game consoles, personal
computers (PC), and mobile devices. Activision Blizzard focuses on developing
innovative games for consumers in different countries. Organizing events is
likely to help it retain its leading position in the esports market. It relies
on sponsorships and franchises for the esports business. The company owns and
operates franchises such as Call of Duty, World of Warcraft, StarCraft, Diablo,
Overwatch, Destiny, and Candy Crush Saga. Activision Blizzard has made some key
investments in the esports business and is also looking forward to capitalizing
on the revenues.
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