Global Sports Technology Market (2021 to 2026) – Featuring IBM, Cisco and Ericsson Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Sports Technology Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The sports technology market is evaluated at US$17.188 billion for the year 2019 and is projected to grow at a CAGR of 19.25% to reach a market size of US$58.946 billion by the year 2026.
Sports Technology refers to the technology which is used to enhance the sports experience and training with the use of advancements and innovations. Sports technology also improves fan engagement by influencing the way sports content is consumed. The increase in audience engagement methods being applied by leagues around the world is anticipated to be one of the major factors driving the market growth in the coming years. The Sports Technology market is anticipated to witness a sharp rise during the forecast period owing to the growing sports industry around the globe. Also, the increasing penetration of eSports has further augmented the sports market and is also expected to have a considerable impact on the sports technology market in the coming years. Moreover, the rapid technological innovations in the fields of hardware and software have further increased the accuracy and performance of the equipment used, which is expected to cause rapid adoption of these devices, leading to boosting up the sports technology market growth during the forecast period.
The recent outbreak of the novel coronavirus disease impacted the sports technology market negatively during the lockdown period as many prominent sports events were canceled due to the rapid spread of coronavirus. Some of the events which were canceled were the 2020 Tokyo Olympics, the football tournament Euro 2020 championship, the Tennis Championship Wimbledon, among others. This led to the downfall of the sports technology market. Also, the production of digital equipment used by athletes such as wearables was affected negatively. But as the lockdowns have been lifted, the production and the sports matches have resumed and some major events have been postponed to be held in 2021.
However, in the audience engagement area, the pandemic has brought a surge as the companies are now aiming at enhancing the consumers’ viewing experience online which is impacting the market positively. For instance, The English Premier League is working with Intel Sports True View and has enabled the viewers to choose which perspective they want to watch the game from. The viewers are now able to watch the game from different angles owing to a large number of cameras in the stadium. Hence, overall, the Covid-19 pandemic is anticipated to positively impact the market and propel the market growth during the forecast period.
Companies Mentioned
- IBM
- CISCO
- SAP SE
- FITBIT
- Ericsson
- Fujitsu
- Modern Times Group
- STATS LLC
- Oracle
- Sony Corporation
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Sports Technology Market Analysis, by Type
5.1. Introduction
5.2. Wearable Devices
5.3. Digital Signage
5.4. Smart Stadium
5.5. Sports Analytics
5.6. Services
6. Sports Technology Market Analysis, by Sport
6.1. Introduction
6.2. Soccer
6.3. Basketball
6.4. Tennis
6.5. Cricket
6.6. Others
7. Sports Technology Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/716xs
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