The global Sports Technology market size is expected to be worth around US$ 46.20 billion by 2030, according to a new report by Vision Research Reports.
The global Sports Technology market size was valued at US$ 11.70 billion in 2020 and is anticipated to grow at a CAGR of 16.10% during forecast period 2021 to 2030.
Growth Factors
The growth is attributed to the technological advancements that have improved the accuracy, engagement, and experience of both athletes and spectators. The technology is empowering a data-driven sports culture and providing a next-generation viewing experience.
The growing popularity of sports has triggered the need for improving operational efficiency and enhancing security in stadiums. Connected stadium technology can help in realizing a smart stadium leveraging crowd management solutions and advanced parking services, subsequently delivering a next-generation experience. A smart stadium can also provide wireless connectivity across the stadium for spectators, guests, vendors, and contractors.
Advanced technology has become more resilient and less burdensome, paving the way for new opportunities in athletics. Wearable technology is revolutionizing training by providing players’ real-time performance metrics, such as speed, distance covered, heart rate, and hydration level. Coaches and trainers can efficiently use this intricate data to design more effective training sessions and game tactics. For instance, a GPS player-tracking system can be used in soccer to record substantial data, such as distance, speed, pulse rate, acceleration rate, and impact from tackles, in real-time and can be used to prepare team strategies, assign players' positions in the game, and make substitutions.
Innovative systems based on the latest technologies are being used in most professional sporting events to help referees in making the right call. For instance, basketball referee uses instant replay, the third umpire in cricket has full access to the TV replays for certain situations, such as catch, run out, and boundaries, Video Assistance Referee (VAR) in soccer for decision review, and hawk-eye technology in tennis for ball tracking. Several leading sporting leagues have also started adopting these technologies in various forms.
North America is expected to exhibit strong growth over the forecast period. The U.S. is home to several leagues, such as National Football League (NFL), National Basketball Association (NBA), National Hockey League (NHL), and Major League Baseball (MLB). Leading players, such as Cisco Systems, Inc., IBM Corp., and SAP SE, also have a strong presence in North America. At the same time, many industry participants in the U.S. are actively reshaping their revenue-generation models, particularly to offset the setback they received from the Covid-19 pandemic, which is expected to contribute to the growth of the regional market.
Report Highlights
The smart stadium segment accounted for the highest revenue share of over 57% in 2020. Smart stadium technology helps in enhancing the audience experience, increasing profitability, and strengthening stadium security. The technology comprises several sensors, cameras, and digital signage to provide real-time information on parking slots, ticketing lines, and food concessions, and other related information. The adoption of innovative solutions based on IoT can particularly help in designing stadiums with interactive seats, secured wireless connections, and high-definition video screens for the live game.
The smart stadium segment has been bifurcated into software and services. The software segment accounted for the highest revenue share in 2020 owing to the rising demand for building automation software for energy-efficient and secured stadiums. Factors, such as the growing need for environmental monitoring, assets management, and cleanliness and hygiene management within stadiums are expected to drive the software segment. Office automation, ticket management, and crowd management are some of the major components of a building automation system. In August 2019, FK Austria Wien, a football club based in Austria, appointed ABB to provide smart building technology and an effective power distribution network for the Generali Arena football stadium.
The increasing viewership of Esports bodes well for the growth of the market. Esports audience grew by almost half a billion in 2020, thereby directly contributing to the revenue growth. People preferred spending more time watching their favorite Esports tournaments, such as the League of Legends European Championship and PUBG Mobile World League 2020, during the lockdown. These Esports tournaments engaged millions of fans the same way conventional sports can do. As a result, many sponsors and investors are finding these tournaments highly lucrative.
The Esports segment has been further divided into tickets & merchandise, sponsorship & advertisement, and others. The sponsorship & advertisement segment dominated the market in 2020 and is expected to retain the leading position over the forecast period. offers a direct opportunity to reach the target audience during online and offline events leveraging video displays, posters, interactive advertising, and freebies. As a result, many non-endemic brands, such as McDonald's Corporation, Daimler AG (Mercedes Benz), Tinder, and Vivo Communication Technology Co. Ltd., have endorsed themselves as key sponsors for Esports teams and tournaments. Non-endemic brands including AT&T Inc.; Nike, Inc.; The Coca-Cola Company; and Nissan Motor Co., Ltd. signed almost 76 deals in Q1/2019.
The soccer segment led the market in 2020 with a revenue share of more than 15%. The International Football Association Board approved the use of electronic tracking systems in 2015. In March 2018, FIFA allowed team analysts to share the players’ performance data with the coaches in real-time during live matches. Video Assistant Referee (VAR) was first used in the 2018 FIFA World Cup to help on-field referees in making decisions. In soccer, the technology can be used to gain actionable insights into a players’ fitness and make informed decisions. At the same time, digitalization also allows fans to interact with football clubs way beyond the 90 minutes of the actual playtime. As a result, despite the initial slow momentum, the adoption of technology has been gaining traction in soccer in recent years. In November 2019, Australia’s national soccer team announced a long-term partnership with STATSports Group for implementing a GPS player-tracking system.
The basketball segment is expected to register the fastest CAGR of over 18.0% from 2021 to 2028. The National Basketball Association (NBA) has realized several benefits due to the adoption of data analytics, mobile apps, wearables, and heart rate sensors. All the 30 NBA teams established their analytical department in 2020 to optimize the training sessions and improve the game-day performance. The association is also incorporating the latest technologies, such as Virtual Reality (VR) and Augmented Reality (AR), for audience engagement. Given the ongoing pandemic, NBA has provided smart rings to all the players. The smart ring can measure body temperature, respiratory functions, and heart rate, and potentially notify about any sudden changes in these parameters.
Europe led the global sports technology market in 2020 with a revenue share of over 30% and is expected to continue dominating the market over the forecast period. Europe is home to several football leagues and most of these leagues have adopted technology in different forms. Europe is also home to several tier-2 and tier-3 football clubs. Smart stadium technology is gaining significant traction in Europe. The stringent public safety regulations enforced by the governing bodies to ensure the security of the spectators and the stadiums are expected to drive the regional market. Esports is also gaining traction in this region due to many partnerships and collaborations taking place in the market.
Asia Pacific is expected to emerge as the fastest-growing regional market from 2021 to 2028. China, due to the presence of a large number of market participants, led the APAC regional market in 2020. As a host of the Tokyo 2020 Olympics games, Japan is also set to contribute significantly to the region’s growth. India has also made significant strides in sports technology over the past couple of years owing to the growing popularity of sports and subsequently the rising number of sports leagues. Other countries, including Australia and Singapore, are also renovating the existing stadiums and constructing new ones featuring smart technologies, which will support market growth.
Key Players
Apple Inc.
ChyronHego Corporation
Cisco Systems, Inc.
HCL Technologies Limited
IBM Corporation
Infosys Limited
Modern Times Group MTG
Oracle
Panasonic Corporation
SAP SE
Sony Corporation
Stats LLC
Telefonaktiebolaget LM Ericsson
Market Segmentation
Technology Outlook
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
Sports Outlook
American Football/Rugby
Baseball
Basketball
Cricket
Golf
Ice Hockey
Tennis
Soccer
Others
Regional Outlook
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of the Asia Pacific
South America
Brazil
Argentina
Middle East and Africa (MEA)
The Sports Technology market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Sports Technology market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Sports Technology market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Sports Technology market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Sports Technology market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Sports Technology capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Sports Technology by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Sports Technology market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Sports Technology market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Sports Technology market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Sports Technology industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Sports Technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Sports Technology market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Sports Technology market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Sports Technology market. These factors have benefited the growth of the global market for Sports Technology. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Sports Technology. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Sports Technology are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers