Smart Sports Equipment Market by Products (Balls, Golf Sticks, Hockey Sticks, Rackets & Bats, and Others), Distribution Channel (Franchise Stores, Specialty Stores, and Online), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The smart sports equipment market is projected to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the growing adoption of Internet of Things (IoT) in sports.
Sports equipment embedded with sensors can be collectively called as smart sports equipment. They facilitate in monitoring the performance of athletes across multiple sporting events. They are developed by using advanced sensor technologies. Smart sports equipment such as smart balls, smart helmets, and smart sports wearable provides enhanced safety, as they help in tracking heart rate and protects athletes from injuries. Smart sports equipment are also used to gauge healthy lifestyle and exercising regime.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for tracking fitness and athletic performance monitoring devices for evaluating health metrics is boosting the growth of the market.
- Increasing disposable income is speculated to propel the market growth during the forecast period
- Rising influence of digital media and marketing is increasing the awareness about the product, which is expected to positively influence the market growth.
- The outbreak of COVID-19 pandemic had drastically slowdown the manufacturing industry. This, in turn, had disrupted the supply chain activity across the globe. However, the market is expected to recover till mid-2021.
Scope of the Report
The report on the smart sports equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Smart Sports equipment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Product (Balls, Golf Stick, Hockey Stick, Rackets & Bats and Others), Distribution Channel (Franchise Stores, Specialty Stores, and Online) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
InfoMotion Sports Technologies, Goifsmith International Holdings, Inc., DribbleUp AG, Wilson Sporting Goods, BABOLAT VS S.A., HockeyShot Inc., Riddell, Zepp Labs, Inc., Gridiron Technologies. |
Smart Sports Equipment Market Segment Insights
Golf stick segment to account a large market share
On the basis of products, the market is divided into balls, golf sticks, hockey sticks, rackets & bats, and others. The golf sticks segment dominated the smart sports equipment market and accounted for over 31% share of the global revenue in 2020. The smart golf sticks help in providing easy access to high-end practice tools for beginners as well as seasoned golfers. The balls segment is anticipated to account for a major market share during the forecast period owing to increasing investment in the R&D activities. In 2017, DribbleUp, Inc. launched a smart soccer ball that optically tracks the movement. The device can be monitored through a smartphone app. The Franchise store segment accounts for a large market share
Franchise stores segment to account a significant market share
In terms of distribution channels, the market is segregated into franchise stores, specialty stores, and online. The franchise stores segment is anticipated to account for a significant market share during the forecast period. Manufacturers in the industry operate majorly through their company owned franchise stores on account of niche products, which results in higher penetration of smart sports equipment in franchise stores. The online segment is anticipated to expand at a high CAGR owing to the rising influence of digital media and marketing.
The market in North America to exhibit a substantial CAGR
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe and Middle East & Africa. The market in North America accounted for a major share in 2020 and is projected to expand at a substantial CAGR during the forecast period. However, the market in Asia Pacific is expected to witness a significant growth rate owing to, rising disposable income and growing demand for advanced sports technology in emerging economies such as India and China.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Sports equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Sports equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Sports equipment Market - Supply Chain
4.5. Global Smart Sports equipment Market Forecast
4.5.1. Smart Sports equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Sports equipment Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Smart Sports equipment Market Absolute $ Opportunity
5. Global Smart Sports equipment Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Smart Sports equipment Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Smart Sports equipment Demand Share Forecast, 2019-2026
6. North America Smart Sports equipment Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Smart Sports equipment Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Smart Sports equipment Demand Share Forecast, 2019-2026
7. Latin America Smart Sports equipment Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Smart Sports equipment Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Smart Sports equipment Demand Share Forecast, 2019-2026
8. Europe Smart Sports equipment Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Smart Sports equipment Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Smart Sports equipment Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Sports equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Smart Sports equipment Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Smart Sports equipment Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Sports equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Smart Sports equipment Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Smart Sports equipment Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Smart Sports equipment Market: Market Share Analysis
11.2. Smart Sports equipment Distributors and Customers
11.3. Smart Sports equipment Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. InfoMotion Sports Technologies
11.4.2. Goifsmith International Holdings, Inc.
11.4.3. DribbleUp AG
11.4.4. Wilson Sporting Goods
11.4.5. BABOLAT VS S.A.
11.4.6. HockeyShot Inc.
11.4.7. Riddell
11.4.8. Zepp Labs Inc.
11.4.9. Gridiron Technologies.
The smart sports equipment market has been segmented on the basis of
Products
- Balls
- Golf Sticks
- Hockey Sticks
- Rackets & Bats
- Others
- Franchise Stores
- Specialty Stores
- Online
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- InfoMotion Sports Technologies
- Goifsmith International Holdings, Inc.
- DribbleUp AG
- Wilson Sporting Goods
- BABOLAT VS S.A.
- HockeyShot Inc.
- Riddell
- Zepp Labs Inc.
- Gridiron Technologies.
The smart sports equipment market is dominated by major players such as InfoMotion Sports Technologies, Golfsmith International Holdings, Inc., DribbleUp AG, Wilson Sporting Goods, BABOLAT VS S.A., HockeyShot Inc., Riddell, Zepp Labs, Inc., and Gridiron Technologies.
Companies are engaging in partnerships, collaborations, and expanding their product offerings to expand their market share.
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