Sports Technology Market Boom: US$ 54.80 Bn. by 2030 on Horizon

Sports Technology Market size was valued at US$ 18.59 Bn. in 2023 and is expected to reach US$ 54.80 Bn. by 2030, at a CAGR of 16.7% during a forecast period.

Sports Technology Market Overview:

The purpose of this study is to provide an in-depth analysis of the  Sports Technology Market by component, application, industry, and geography. The study provides detailed information on the major factors influencing the growth of the Sports Technology industry. The study also provides a thorough examination of the market’s value chain.

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Sports Technology Market Scope:

The research method used to assess and forecast the Sports Technology market begins with gathering revenue data from key suppliers using secondary research sources. When defining market segmentation, vendor offerings are also considered. Using the bottom-up method, the income of major corporations was utilized to assess the total size of the Sports Technology market.

Sports Technology Market Drivers:

Growing need for data-driven decision-making: Since the introduction of Artificial Intelligence (AI) and Machine Learning, data-driven decision-making has been used in the corporate world for a few years (ML). It has also given rise to a centralized structure for companies to use correct data to promote collective decision-making, encouraging sporting teams and management all over the world to adopt innovative technologies. The rapid adoption of data-based decision-making models, on the other hand, has resulted in a huge rise in data generation during every sporting event. For an in-depth understanding of player metrics, health, and performance during the league/tournament, massive amounts of data must be computed, processed, and evaluated. Wearable device adoption delivers these stats to the team management for improved analysis, allowing for the development of a team plan. As a result of the growing acceptance of developing technologies as a result of digitalization, there is a significant need for sports technology.

Integration with Artificial Intelligence (AI): Complex tasks can be completed with precision and convenience using artificial intelligence (AI) combined with sports technology. AI is being used in a variety of industries, including banking and finance, manufacturing, and healthcare. The effective integration of new technology has prompted solution providers to incorporate AI modules into their systems to meet the growing need for sports technology. Over the course of the review period, the need for integrating AI and wearable technology into live tracking games and player performances is expected to grow.

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Sports Technology Market Segmentation:

1. IBM
2. Ericsson
3. Cisco
4. Fujitsu
6. Oracle
7. NEC
8. LG
9. Sharp
10. Samsung
11. Fitbit
12. Apple
13. Garmin
14. Sony
15. ARRI
16. Panasonic Corporation
17. Modern Times Group
18. Activision Blizzard
19. Valve Corporation
20. Tencent
21. CJ Corporation

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Sports Technology Market Regional Analysis:

Market share information for North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.

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Key Questions Answered in the Sports Technology Market Report are:

  • Which segment had the largest share in the Sports Technology market?
  • How is the competitive scenario of the Sports Technology market in 2020?
  • Which are the key drivers impacting the Sports Technology market growth?
  • Which region holds the maximum share in the Sports Technology market?
  • What will be the CAGR of the Sports Technology market during the forecast period (2021-2027)?

About Maximize Market Research:

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

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