According to
the new market research report "Sports Technology Market with
COVID-19 Impact by Technology (Devices, Smart Stadiums, Sports Analytics and
eSports), by Sports (Soccer, Baseball, Basketball, Ice Hockey, Rugby, Tennis,
Cricket, Golf, eSports) and Geography - Global Forecast to 2026", 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. 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. 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.
Smart stadiums is expected to hold largest
share of sports technology market during forecast period.
A smart
stadium is a venue that uses the latest information and communications
technology to enhance visitor experience. The adoption of digital technologies
and increased commercialization of stadiums are expected to drive the demand for
smart stadiums. This benefits pro leagues and world tournaments as well. Due to
COVID-19, the number of spectators admitted to sporting events is very limited.
However, this led to strong financial losses for clubs, sports facility
operators, ticket sellers, etc. Therefore, there was an increasing demand for
smart solutions to bring fans and revenue back while also ensuring safety.
Soccer is expected to be the largest adopter
of sports technology during forecast period
The adoption
of sports technologies has been higher in soccer than in tennis, golf, and
other sports. FIFA is making efforts to establish global wearable standards for
use by all soccer teams. The idea is to have all professional teams using the
same data-tracking technologies for training their players. Eventually, some of
these technologies are expected to be used in live matches to help players and
coaches track the performance of teams and individual players. They are also
anticipated to open a host of possibilities for broadcasting sports events and
allowing fans to view in-depth statistics of players.
Sports technology market in North America to
grow at highest CAGR during forecast period
North
America is the most advanced region in terms of technology adoption and the
largest sports technology market in the world. Several stadium operators,
sports teams, players, and event organizers in North America are adopting the
latest sports technologies to transform their operations digitally. The growing
need for network management and high data consumption during matches and events
are forcing event operators to adopt solutions that can efficiently reduce data
consumption without hampering spectator experience.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=104958738
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).
About
MarketsandMarkets™
MarketsandMarkets™ provides quantified
B2B research on 30,000 high growth niche opportunities/threats which will
impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500
customers worldwide including 80% of global Fortune 1000 companies as clients.
Almost 75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
“Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with
the clients to identify new opportunities, identify most important customers,
write “Attack, avoid and defend” strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship
competitive intelligence and market research platform, “Knowledgestore”
connects over 200,000 markets and entire value chains for deeper understanding
of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr.
Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
No comments:
Post a Comment