The Sports Technology Global Market Report 2023, provides comprehensive information on the sports technology market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global sports technology market size is expected to grow from $15.14 billion in 2022 to $17.88 billion in 2023 at a compound annual growth rate (CAGR) of 18.12%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global sports technology market size is expected to reach $33.01 billion in 2027 at a CAGR of 16.56%
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Technological advancement is the key trend gaining popularity in the sports technology market. Major companies operating in the sports technology market are focusing on developing new technologies to improve the gameplay, fan engagement and player performance. For instance, in June 2021, HCL Technologies Limited an India-based technology company in collaboration with cricket Australia developed a digital innovation platform that supports data-driven approaches to increase the involvement of cricket players, fans, and partners. Utilizing Azure as a platform sandbox, HCL and CA will work with Microsoft to help participants. This initiative aims to use technology to foster cricket fan unity and enthusiasm. The new platform was designed to make a significant contribution to the sport of cricket and allow Cricket Australia to enhance the on- and off-field performance of the Australian National Team. The HCL – CA TechJam is accessible to all sports fans, data scientists, analysts, developers, statisticians, tech enthusiasts, freelancers, university students, coders, and technology pioneers from the world developer community. Develop prototypes utilising technology to serve the community and turn cricket into a professional multi-touchpoint sport for all Australians with more than 700,000 registered participants.
The sports technology market is segmented:
1) By Sports Type: Baseball, Basketball, Cricket, Ice Hockey, Tennis, Soccer, Rugby
2) By Technology: Device, Smart Stadium, Esports, Sports Analytics
3) By End-User: Sports Associations, Clubs, Leagues, Athletes, Coaches
North America was the largest region in the sports technology market in 2022.
The table of contents in TBRC’s sports technology market report includes:
- Executive Summary
- Sports Technology Market Characteristics
- Sports Technology Market Trends And Strategies
- Sports Technology Market – Macro Economic Scenario
- Sports Technology Market Size And Growth
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- Africa Sports Technology Market
- Sports Technology Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Sports Technology Market
- Sports Technology Market Future Outlook and Potential Analysis
- Appendix
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