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. To know about the Research Methodology:-Request Free Sample Report
Global Sports Technology Market Dynamics:
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.
Global Sports Technology Market Regional Analysis:
Region-wise, North America led the sports technology market in 2019 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.
Global Sports Technology Market, Key Highlights:
• Global Sports Technology Market analysis and forecast, in terms of value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Sports Technology Market • Global Sports Technology Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided. • Global Sports Technology Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study. • Global Sports Technology Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Sports Technology Market are also profiled. The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
Scope of the Global Sports Technology Market: Inquire before buying
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
Global Sports Technology Market, Key Players
• 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
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