Dublin–(Business Wire)–“By Technology (Devices, Smart Stadiums, Sports Analytics, Esports), By Sports (Football, Baseball, Basketball, Ice Hockey, Rugby, Tennis, Cricket), End User (Sports Associations, Clubs, Leagues) and Regions – “Forecast to 2027” report has been added to ResearchAndMarkets.com’s supply.
The sports technology market is expected to grow from USD 21.9 billion in 2022 to USD 41.8 billion in 2027; it is expected to grow at a CAGR of 13.8% from 2022 to 2027. The growth of the sports technology market can be attributed to the growing focus on pleasing and engaging fans in stadiums, increasing pressure to improve player and team performance, and increasing implementation of methods for efficiently managing stadium infrastructure IoT technology.
The sports technology market for sports analytics is projected to grow at the highest CAGR from 2022 to 2027
Sports analytics solutions not only help coaches and administrators, but also provide individual athletes with the means to analyze and improve performance. The use of sports analytics is not limited to venues and players, with various sports organizations using data-driven decision-making to improve their reception and spectator experience. Thus, sports analytics solutions help sports organizations improvise in multiple areas by making data-driven decisions that help improve profitability.
The sports technology market in Europe is expected to grow at the second highest CAGR during the forecast period.
Europe has the largest number of professional and well-known football associations and clubs in the world. Different European football leagues such as the Barclays Premier League, Bundesliga (Germany), Scottish Premier League (Scotland) and La Liga (Spain) are held regularly and the management of these associations invest heavily in technology to improve the efficiency of monitoring games and player. Major football clubs such as Manchester United, Arsenal, Chelsea, Real Madrid, Barcelona and Liverpool are part of such leagues.
Increasing focus on delighting and engaging fans at stadiums
There is an urgent need for data-driven decision-making
Increasing pressure to improve player/team performance
Esports Technology Adoption Surges
Increasing implementation of IoT technologies to efficiently manage stadium infrastructure
High initial investment and budget constraints
The Emergence of Artificial Intelligence and Machine Learning Technologies
The advent of sports leagues and jackpot events
Augmented and virtual reality in sports
Lack of professionals with analytical skills
The Complexity of Upgrading and Replacing Legacy Systems
Key topics covered:
2 Research Methodology
3 Executive Summary
4 Advanced Insights
5 Market Overview
6 Sports Technology Market, By Technology
6.3 Smart stage
7 Sports Tech Markets in Sports
7.5 Ice hockey
7.6 American Football/Rugby
8 Sports Technology Market by End User
8.2 Sports associations
9 Sports Technology Market, By Region
10 Competitive Landscape
11 Company Profile
garmin co., ltd.
dragon horse race
Modern Times Group
Samsung Electronics Co., Ltd.
sars institute corp.
sony group of companies
For more information on this report, please visit https://www.researchandmarkets.com/r/bkfi92