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Report Overview
The global sports technology market value reached around USD 20268.47 Million in 2023 due to increasing demand for data-driven insights in sports, which enhances player performance and team strategies. The rise of smart stadiums equipped with IoT devices and digital signage is transforming fan experiences. As a result, the industry is expected to grow at a CAGR of 11.20% during the forecast period of 2024-2032 to attain a value of USD 52694.35 Million by 2032. The growing popularity of esports is also contributing to market expansion, as it necessitates innovative technologies for broadcasting and audience engagement.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The increasing rollout of 5G networks is anticipated to enhance the stadium experience, provide enhanced performance analytics to athletes, and deliver more immersive fan experiences. With the ability to transmit large amounts of data at high speeds, 5G technology will enable real-time analytics and instant feedback during games. This connectivity allows for advanced applications such as augmented reality (AR) and virtual reality (VR), which can transform how fans engage with live events. For instance, fans could use AR to view player stats or replays from multiple angles directly on their devices. Additionally, athletes can benefit from improved data collection and analysis capabilities, allowing coaches to make informed decisions based on real-time performance metrics.
- Athletes and sports enthusiasts are deploying wearable and performance-enhancement tools to analyse and boost their performances, leading to sports technology market growth. Wearable technology has become integral in sports, enabling athletes to track various performance metrics such as heart rate, distance covered, and movement patterns. Devices like GPS trackers, heart rate monitors, and motion sensors provide real-time data that helps athletes optimise their training regimens and reduce injury risks. In sports like football and basketball, wearables are used to monitor player workload and fatigue levels, allowing coaches to tailor training programs effectively.
- Esports, which is now officially recognised in Germany, the USA, India, and China, among other countries, is using AI and machine learning to boost player performance. The integration of these technologies allows for sophisticated analysis of gameplay data, enabling players to refine their strategies and improve their skills.
Sports Technology Market Trends
The rising focus on improving spectator experience is leading to the development of smart stadiums that incorporate smart navigation, ultrasonic internet speed, and multiple game viewpoints. The Buffalo Bills announced plans for a new USD 1.4 billion stadium in Orchard Park, New York, in partnership with Legends. This project emphasised a data-intelligence-fuelled design aimed at enhancing the game-day experience through smart technologies that will improve fan engagement and operational efficiency. The stadium is expected to open in 2026 and will incorporate advanced analytics for crowd management and personalised services which can impact sports technology demand growth.
Additionally, Tottenham Hotspur Stadium has also been recognised for its integration of smart technologies, including an efficient energy management system and advanced crowd management solutions using IoT sensors. This stadium shows how smart technology can enhance both operational efficiency and spectator comfort by providing real-time data for better crowd control and security measures.
Sports Technology Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 20268.47 Million.
The sports technology market is assessed to grow at a CAGR of 11.20% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 52694.35 Million by 2032.
The different sport types considered in the market report are outdoor sports and indoor sports.
The key regional markets for sports technology are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The end uses of sports technology include clubs, sports associations, leagues, and coaches, among others.
The applications include analytics and statistics, decision-making and team analysis and management, game performance analysis and injury and health analysis, training, tactics and simulation, and tracking.
The key players in the market include International Business Machines Corporation, Fujitsu Limited, SAP SE, Oracle Corporation, NEC Corporation, Fitbit LLC, Apple Inc., Garmin Ltd., Sony Corporation, Cisco Systems, Inc., Samsung Electronics Co., Ltd., Huawei Technologies Co., Ltd., Panasonic Corporation, Catapult Group International Ltd, Zebra Technologies Corporation, Stats Perform, Infosys Limited, MicroTeam, Pixellot Ltd., and Miro AI, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124