Sports Technology Market

Market Leadership - Sports Technology Market

The global sports technology market was valued at USD 17.9 billion in 2021 and is expected to reach USD 40.2 billion by 2026, at a CAGR of 17.5% between 2021 and 2026. In the recent years, professional sports bodies have adopted new technologies such as sports data analytics, smart stadiums, wearable devices, and digital signage to enhance their team performance, engage fans, and provide smart infrastructures. Smart stadiums are among the key global trends owing to the increase in the number of sports events being held worldwide. Technological innovations in smart stadiums drive the execution of several projects worldwide. The growth opportunities for the sports technology market are high in Europe and APAC owing to favorable economic and sports environments. The market growth can be attributed significant improvement in audience engagement, growing demand for data-driven decisions and operations, and increasing sports events, online and offline.

Leading players in the sports technology market includes IBM (US), Ericsson (Sweden), Cisco (US), Fujitsu (Japan), SAP (Germany), Oracle (US), Catapult Sports (Australia), NEC (Japan), LG (South Korea), Sharp (Japan), Samsung (South Korea), Fitbit (US), Apple (US), Garmin (US), Sony (Japan), Panasonic (Japan), Modern Times Group (Sweden), Activision Blizzard (US), Tencent (China), and CJ Corporation (South Korea).

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Top Market Players In Each Technology:

Apple is one of the most innovative companies, which designs and develops hardware, application software, and services for different consumer electronics products. The company has a prominent focus on R&D. This has helped the company yield profits and increase its revenue over the past few years. It has displayed an impressive top-line growth through its innovative products. For the sports wearables market, Apple has a broad range of high-performance products such as wireless AirPods (earbuds) and Apple watch with virtual assistants and additional AI functionalities to detect early signs of strokes and diabetics.

IBM is one of the leading smart stadium and sports analytics products and solutions providers. Its product ecosystem consists of Building Management Center, IBM Intelligent Operations Center, IBM Social Media Analytics, IBM Sports Enterprise 360/365, Identity and Access Security, and Application Security. These solutions enable enhancing spectator experience and optimizing stadium operations. IBM has recently announced innovative new fan experiences leveraging AI, underpinned by hybrid cloud technologies. This will enable millions of fans worldwide to experience the excitement and vibrant environment surrounding events such as the Grand Slam, where fans were restricted to experience the matches at home due to COVID-19 restrictions. IBM has been associated with major sports events, such as the Master Golf Tournament, U.S. Open Golf Tournament, French Open, Australian Open, and Wimbledon.

Cisco has grown from being a seller of individual products and services to a seller of entire networking architecture and solutions. The company is one of the smart stadium market leaders. Cisco’s StadiumVision transforms and boosts the intensity of any sport for spectators. The Cisco Connected Stadium Wi-Fi Solution (a high-density Wi-Fi solution) enables fans to indulge in social media activities within stadiums. Cisco’s core strength lies in offering innovative products and solutions. The company spends considerable portions of its revenue on R&D; it spent USD 6.3 billion in 2020. Its strong R&D helps in developing and enhancing product capabilities to gain a competitive edge in the market.

Activision Blizzard is one of the leading esports companies that develops and publishes interactive entertainment content and services for multiple platforms, including video game consoles, personal computers (PC), and mobile devices. Activision Blizzard focuses on developing innovative games for consumers in different countries. Organizing events is likely to help it retain its leading position in the esports market. It relies on sponsorships and franchises for the esports business. The company owns and operates franchises such as Call of Duty, World of Warcraft, StarCraft, Diablo, Overwatch, Destiny, and Candy Crush Saga. Activision Blizzard has made some key investments in the esports business and is also looking forward to capitalizing on the revenues.

Related Reports:

Sports Technology Market with COVID-19 Impact by Technology (Devices, Smart Stadiums, Sports Analytics and eSports), by Sports (Soccer, Baseball, Basketball, Ice Hockey, Rugby, Tennis, Cricket, Golf, eSports) and Geography - Global Forecast to 2026

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Report Code
SE 7011
RI Published ON
5/5/2021
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