NEW YORK, Oct. 2, 2023 /PRNewswire/ — The “Sports Technology Market by End-user (Sports association, Clubs, and leagues), Technology (Artificial intelligence or machine learning, Internet of things, and Augmented reality or virtual reality), and Geography (Europe, North America, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the sports technology market between 2022 and 2027 is USD 29.95 billion. The rising number of sports technology events is notably driving the market growth. Sports technology events are not just limited to online audiences. They can also be held at physical locations such as sports-tech arenas, local sports-tech bars, homesteads, and other places. Hosting such events physically can expand the target audience, promote the concept of sports technology, and boost the morale of sports technology players. However, it requires a relatively high investment, which can limit the participation of teams or players from different parts of the world. However, organizations that conduct sports technology events at physical locations are popular, especially in China. Six cities in the country are making efforts to become key sports technology hubs by introducing policies and signing partnership deals to promote such events. These factors are expected to drive sports technology market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

System integration and interoperability issues are significant challenges hindering market growth. 

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The sports technology market is segmented by end-user (Sports associations, Clubs, and leagues), technology (Artificial intelligence or machine learning, Internet of things, and Augmented reality or virtual reality), and geography (Europe, North America, APAC, South America, and Middle East and Africa). 

• The market share growth by the sports associations segment will be significant during the forecast period. Sports associations rely on sports technology solutions like Sports Plus to manage their operations efficiently. These solutions are used to share program information with member clubs and individuals, choose event venues, create registration forms, and monitor member activities. In addition, sports technology is utilized for analytics to rank players based on the data available. The technology is also used to promote events and keep audiences and member clubs updated with the latest news. As a result, the demand for sports technology is expected to increase among sports associations, leading to market growth during the forecast period.                                                                                                                                                                                   
• Europe is estimated to account for 36% of the global market during the forecast period.

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Key Companies in the Sports Technology Market:

Athlete Intelligence, Catapult Group International Ltd., Chetu Inc., Cisco Systems Inc., Epicor Software Corp., Firstbeat Technologies Oy, International Business Machines Corp., Jonas Club Software, SAP SE, Kinexon GmbH, Orreco, PlaySight Interactive Ltd., Samsung Electronics Co. Ltd., Tableau Software LLC, Active Network LLC, Agile Sports Technologies Inc., Garmin Ltd, SPay Inc., Sportradar AG, and Upper Hand Inc.

FAQS

• How do the major trends impact the market?
• How big is the Europe market?
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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user 

Market Segmentation by Technology

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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