Global Sports Technology Market Overview And Statistics For 2024-2033

The Business Research Company’s Sports Technology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 20, 2024 /EINPresswire.com/ -- The sports technology market has experienced robust growth in recent years, expanding from $17.93 billion in 2023 to $21.17 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to globalization of sports, enhancements in sports broadcasting, emergence of smart stadiums, innovation in sports equipment, growing focus on athlete safety.

What Is The Estimated Market Size Of The Global Sports Technology Market And Its Annual Growth Rate?
The sports technology market is projected to continue its strong growth, reaching $38.87 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to development of smart sportswear, enhancements in fan engagement platforms, e-sports infrastructure development, regulatory changes and athlete empowerment, sustainability in sports facilities.

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Growth Driver of The Sports Technology Market
An increase in sports activities is expected to propel the growth of the sports technology market going forward. Sports activities encompass a wide range of physical activities and games that are enjoyed by individuals of all ages. These activities can be recreational, competitive, or organized, and they contribute to physical fitness, skill development, and overall well-being. Sports technology plays a crucial role in enhancing player and team performance through the use of data analytics, wearable devices, and performance tracking systems.

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Which Market Players Are Driving The Sports Technology Market Growth?
Key players in the sports technology market include Apple Inc., ChyronHego Corporation, Cisco Systems Inc., HCL Technologies Limited, Infosys Limited, Modern Times Group MTG, Oracle, Panasonic Corporation, SAP SE, Sony Corporation, Stats LLC, Telefonaktiebolaget LM Ericsson, Agile Sports Technologies Inc.

What Are The Key Trends That Influence Sports Technology Market Share Analysis?
Technological advancement is the key trend gaining popularity in the sports technology market. Major companies operating in the sports technology market are focusing on developing new technologies to improve the gameplay, fan engagement and player performance.

How Is The Global Sports Technology Market Segmented?
1) By Sports Type: Baseball, Basketball, Cricket, Ice Hockey, Tennis, Soccer, Rugby
2) By Technology: Device, Smart Stadium, Esports, Sports Analytics
3) By End-User: Sports Associations, Clubs, Leagues, Athletes, Coaches

Geographical Insights: North America Leading The Sports Technology Market
North America was the largest region in the sports technology market in 2023. The regions covered in the sports technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Sports Technology Market Definition
Sports technology refers to technologies created by humans to further human interests or goals in or related to a specific sport. Sports technology connects the playing, or use, features of athletic equipment to the guiding principles of product design by combining the best aspects of engineering science, measurement, and analysis, as well as sports science. It supports this by offering up-to-date knowledge of production procedures and materials, enabling enhancements to the functionality and performance of sporting goods.

Sports Technology Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global sports technology market report covering trends, opportunities, strategies, and more

The Sports Technology Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sports technology market size, sports technology market drivers and trends, sports technology market major players, sports technology competitors' revenues, sports technology market positioning, and sports technology market growth across geographies. The sports technology market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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Oliver Guirdham
The Business Research Company
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