Sports Technology Market

Sports Technology Market by Technology (Smart Stadium [Software {Event Management, Stadium & Public Security, Building Automation, and Others} and Services], Devices [Camera, Wearables, Digital Signage, and Others], E-sports [Sponsorship & Advertisement, Tickets & Merchandise, and Others], and Analytics & Statistics), Sports (Golf, Baseball, Tennis, Basketball, Soccer, Cricket, American Football, Ice Hockey, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CG-2061
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 215
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The global sports technology market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising social media integration across various sports and increasing adoption of modern technology such as the data analytics and Internet of Things (IoT).

Sports Technology Market

Sports technology involves application of technology to improve the sports experience and training through innovation & advancement. Furthermore, the technology increases fan engagement by inducing people to consume sports content. Moreover, sports technology can be used to track a player's performance and offer pertinent data that can be utilized to make an informed decision or improvement on the player's performance. For example, in football, new gadgets are being utilized for a variety of reasons including helping referees to make decisions and quantifying the athletes' performance during a match. Additionally, these technology offer the coach to create effective training program and adopt game plan or strategy. Furthermore, several sensors, cameras, and digital signage are used to provide real-time information about ticketing queues, parking spaces, and food concessions, and other things related to sport events.

Implementation of new technology in the field of sport becomes an essential feature to improve live experience of the crowd as well and solving complex rules of various games.  For instance, goal-line technology is recently in football to ensure accuracy and easy in the detecting whether the ball has crossed the goal line or not. This technology improves the decision of the referee, which has erased the complications around the rules related to scoring goals existed a few years ago. Similarly, numerous sorts of equipment have been used in the past few years to quantify the performance of sportsmen during other sport events especially a football match. Due to COVID-19 pandemic outbreak all around the world, several sport events had been postponed and cancelled while no single spectator was allowed to attend sporting events except the players and the team mangers. . On the other hand, sports facility operators, clubs, ticket dealers, and others suffered massive financial losses due to the emergency lockdown & movement restriction of fans and spectators accessing to stadiums. As the pandemic got subsided in the early months of 2021 in several countries, many sport events resumed and various innovative technology had been reintroduced to attract fans and recover revenue while maintaining the safety precautions by organizers and regulators.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising audience engagement techniques and rising popularity of several sport events globally are anticipated to fuel the market growth in the coming years.
  • Increasing penetration of e-sports along with faster technological innovations in the fields of hardware and software is expected to boost the market expansion.
  • Growing demand for data-driven decisions & activities along with increasing watching of online & offline sports events are estimated to propel the market growth during the forecast period.
  • High initial investment and a prolonged timeframe for the return on investment to deploy sports technology are expected to hamper the market growth.
  • Growing risk of technology malfunctions is one of the major factor challenging the growth of the market during the forecast period.
  • Growing government expenditure on the development of the sports industry, increasing demand for improving sports infrastructure, and attracting large-scale investments are anticipated to provide great opportunity for the market in the coming years.

Scope of the Report

The report on the global sports technology market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Sports Technology Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Technology (Smart Stadium [Software {Event Management, Stadium & Public Security, Building Automation, and Others} and Services], Devices [Camera, Wearables, Digital Signage, and Others], E-sports [Sponsorship & Advertisement, Tickets & Merchandise, and Others], and Analytics & Statistics) and Sports (Golf, Baseball, Tennis, Basketball, Soccer, Cricket, American Football, Ice Hockey, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ChyronHego Corp.; Apple Inc.; HCL Technologies Ltd.; Cisco Systems, Inc.; Infosys Ltd.; IBM Corp.; Oracle; Modern Times Group MTG; Panasonic Corp.; Sony Corp.; Telefonaktiebolaget LM Ericsson; and SAP SE.

Market Segment Insights

Smart stadium segment is expected to grow at a rapid pace

Based on technology, the global sports technology market is segregated as smart stadium, devices, e-sports, and analytics & statistics. The smart stadium segment is further bifurcated into software and services. Furthermore, the software sub-segment is further segmented into event management, stadium & public security, building automation, and others. The smart stadium segment is expected to grow at a rapid pace during the forecast period attributed to the rising profitability, augmenting the audience experience, and strengthening stadium security. Moreover, growing adoption of IoT-based innovation solutions can aid stadium design by providing secure wireless connections, interactive seats, and high-definition television screens for live games. This is expected to further boost the segment expansion in the coming years.

However, e-sport segment is expected to expand at a substantial rate during the forecast period owing to the ticketing & merchandising, sponsorship & advertisement, and other categories. In 2020, the sponsorship & advertisement segment held a major market share, and the trend is likely to continue in the coming years. Furthermore, increasing use of visual displays, posters, and interactive elements, e-sports provides a direct way to engage the target audience during online and offline events. Moreover, during the lockdown all over the world, e-sports tournaments using smart electronic devices such as the League of Legends European Championship and the PUBG Mobile World League 2020 received a huge participation from gamers worldwide. These e-sports championships drew millions of spectators in the same manner that traditional sports do. As a result, many sponsors and investors see these events as extremely profitable.

Sports Technology Market

Soccer segment is projected to expand at a considerable CAGR

On the basis of sports, the market is segmented into golf, baseball, tennis, basketball, soccer, cricket, American football, ice hockey, and others. The soccer segment is projected to expand at a considerable CAGR during the forecast period due to the widespread use of advanced & innovative sports technology. Moreover, several sports technology are available for player's fitness and make informed judgments about game strategies associated with soccer. At the same time, digitization allows fans to communicate with their favorite football team extending much beyond the 90-minute game of a match.

Furthermore, the usage of electronic tracking systems was approved by the International Football Association Board in 2015. In March 2018, FIFA granted various options for team analysts and allowed to use the available facility to share real-time player performance data with coaches during live matches. Additionally, video assistant referee (VAR) was initially used in FIFA World Cup, 2018 to help on-field referees to make appropriate decisions. In another event, the national soccer team of Australia established a long-term cooperation with STATSports Group in November 2019 to implement a global positioning system (GPS) player-tracking system.

Sports Technology Market

Europe is anticipated to constitute a key market share

In terms of regions, the global sports technology market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is anticipated to constitute a key market share during the forecast period owing to the existing several football leagues and growing adoption technology in different forms of sports in the region. Moreover, rising integration of smart devices with various advantages in the management of players, leagues, and audiences present another key insight for the regional market growth. Additionally, strengthening the public safety measures for viewers and audiences is a key reason for wide adoption of new technology for hosting games with ease in major stadiums. Thus, all these factors are expected to propel the market expansion in the region.

However, the market of Asia Pacific is projected to expand at a considerable rate in the coming years owing to wide establishment of various sport facilities and rising organization of new sport events in the region. For instance, expanding popularity of sports and growing number of sports leagues including cricket and football, India has achieved major gains in sports technology in the recent years. Other countries including Australia, China, Japan, and Singapore, are refurbishing existing stadiums and building new ones that help to facilitate high adoption of smart technology. Furthermore, Japan is expected to make a big contribution to the region's prosperity as the country is hosting the Tokyo 2020 Olympic Games.

Sports Technology Market

Segments

Segments Covered in the Report

The global sports technology market has been segmented on the basis of

Technology

  • Smart Stadium
    • Software
      • Event Management
      • Stadium & Public Security
      • Building Automation
      • Others
    • Services
  • Devices
    • Camera
    • Wearables
    • Digital Signage
    • Others
  • E-sports
    • Sponsorship & Advertisement
    • Tickets & Merchandise
    • Other
  • Analytics & Statistics

Sports

  • Golf
  • Baseball
  • Tennis
  • Basketball
  • Soccer
  • Cricket
  • American Football
  • Ice Hockey
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • ChyronHego Corp.
  • Apple Inc.
  • HCL Technologies Ltd.
  • Cisco Systems, Inc.
  • Infosys Ltd.
  • IBM Corp.
  • Oracle
  • Modern Times Group MTG
  • Panasonic Corp.
  • Sony Corp.
  • Telefonaktiebolaget LM Ericsson
  • SAP SE

Competitive Landscape

Some of the key market players competing in the global sports technology market are ChyronHego Corp.; Apple Inc.; HCL Technologies Ltd.; Cisco Systems, Inc.; Infosys Ltd.; IBM Corp.; Oracle; Modern Times Group MTG; Panasonic Corp.; Sony Corp.; Telefonaktiebolaget LM Ericsson; and SAP SE.

These key players are focusing on strategic regional expansion and investing on R&D activities to improve and deploy efficient technology & solution in the area of sports technology in order to enhance their market position.  For instance, STATSports has announced in July 2020 that Sporting CP had signed a contract to extend their present arrangement. STATSports has been a long-time customer of the 18-time Primeira Liga champions, with their first-team squad using APEX Pro Series. For example, the Chinese Football Association teamed up with Hawk-Eye Innovations, a VAR technology vendor, to introduce a new ground-breaking 3D Offside System to the Chinese Super League in May 2019.

Sports Technology Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Sports Technology 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. Sports Technology Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Sports Technology Market - Supply Chain
  4.5. Global Sports Technology Market Forecast
     4.5.1. Sports Technology Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Sports Technology Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Sports Technology Market Absolute $ Opportunity
5. Global Sports Technology 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. Sports Technology 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 Sports Technology Demand Share Forecast, 2019-2026
6. North America Sports Technology 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 Sports Technology 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 Sports Technology Demand Share Forecast, 2019-2026
7. Latin America Sports Technology 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 Sports Technology 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 Sports Technology Demand Share Forecast, 2019-2026
8. Europe Sports Technology 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 Sports Technology 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 Sports Technology Demand Share Forecast, 2019-2026
9. Asia Pacific Sports Technology 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 Sports Technology 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 Sports Technology Demand Share Forecast, 2019-2026
10. Middle East & Africa Sports Technology 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 Sports Technology 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 Sports Technology Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Sports Technology Market: Market Share Analysis
  11.2. Sports Technology Distributors and Customers
  11.3. Sports Technology Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ChyronHego Corp. Apple Inc. HCL Technologies Ltd. Cisco Systems, Inc. Infosys Ltd. IBM Corp.

Segments Covered in the Report

The global sports technology market has been segmented on the basis of

Technology

  • Smart Stadium
    • Software
      • Event Management
      • Stadium & Public Security
      • Building Automation
      • Others
    • Services
  • Devices
    • Camera
    • Wearables
    • Digital Signage
    • Others
  • E-sports
    • Sponsorship & Advertisement
    • Tickets & Merchandise
    • Other
  • Analytics & Statistics

Sports

  • Golf
  • Baseball
  • Tennis
  • Basketball
  • Soccer
  • Cricket
  • American Football
  • Ice Hockey
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • ChyronHego Corp.
  • Apple Inc.
  • HCL Technologies Ltd.
  • Cisco Systems, Inc.
  • Infosys Ltd.
  • IBM Corp.
  • Oracle
  • Modern Times Group MTG
  • Panasonic Corp.
  • Sony Corp.
  • Telefonaktiebolaget LM Ericsson
  • SAP SE

Some of the key market players competing in the global sports technology market are ChyronHego Corp.; Apple Inc.; HCL Technologies Ltd.; Cisco Systems, Inc.; Infosys Ltd.; IBM Corp.; Oracle; Modern Times Group MTG; Panasonic Corp.; Sony Corp.; Telefonaktiebolaget LM Ericsson; and SAP SE.

These key players are focusing on strategic regional expansion and investing on R&D activities to improve and deploy efficient technology & solution in the area of sports technology in order to enhance their market position.  For instance, STATSports has announced in July 2020 that Sporting CP had signed a contract to extend their present arrangement. STATSports has been a long-time customer of the 18-time Primeira Liga champions, with their first-team squad using APEX Pro Series. For example, the Chinese Football Association teamed up with Hawk-Eye Innovations, a VAR technology vendor, to introduce a new ground-breaking 3D Offside System to the Chinese Super League in May 2019.

Sports Technology Market

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