Sports Technology Market Facts, Future Scenarios, Growth , Analytical Insights And Forecast to 2028

Increasing number of smart sports stadiums and rising adoption of new and more advanced technologies in the sports industry are some key factors driving market

VANCOUVER, BC, CANADA, August 18, 2022 /EINPresswire.com/ -- Global sports technology market size is expected to reach USD 40.22 Billion by 2028 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. Steady growth of the market can be attributed to increasing adoption of new technologies in the sports industry such as big data analytics, Artificial Intelligence (AI), cloud services, wearables, and drones. Utilization of Video Assistant Referee (VAR) in the 2018 FIFA World Cup in Russia was the start of the trend which is another key factor driving the deployment of sports technology in the global sports industry. The VAR system operated out of a video control room and could communicate with the referee on the soccer field to review a play.

The researcher also discusses the recent trends and developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers constitute a substantial part of the research on the Sports Technology market for the forecast period from 2021 to 2028. The report will empower companies to understand the opportunities, adapt to their consumer demands, needs, and concentrate on their best end-users.

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Some Key Highlights in the Report

In June 2019, IBM & FOX Sports teamed up to transform the production of the 2019 FIFA Women’s World Cup France event. This helped to transform the production of the event by infusing Artificial Intelligence analysis and live streaming during the game.

The soccer segment accounted for largest revenue share 2020, driven by rising adoption of advanced technologies such as AI, big data analytics, cloud services, drones, and wearables.

Devices segment revenue is expected to expand at a rapid CAGR during the forecast period. Benefits offered by wearable devices include workout injury prevention, player safety assessment tool, and metrics of physical conditioning and performance, which is boosting demand for wearables.

Europe accounted for largest revenue share contribution to the global sports technology market in 2020. Increasing adoption of advanced technologies in the sports industry is driving market growth in the region.

The reports cover key developments in the Sports Technology market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships and collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Sports Technology market are anticipated to lucrative growth opportunities in the future with the rising demand for Sports Technology in the global market. The market is expected to grow at a significant CAGR during the forecast period.

The major players covered in this report

IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC Corp., LG, Sharp Corporation, and Samsung company

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Emergen Research has segmented the global sports technology market on the basis of sports, technology, and region:

Sports Outlook (Revenue, USD Billion; 2021–2028)

Baseball

Soccer

Basketball

Cricket

Tennis

American Football/Rugby

Others

Technology Outlook (Revenue, USD Billion; 2021–2028)

Esports

Device

Smart Stadium

Sports Analytics

 Sports Technology Market segment by Region/Country including:

North America (United States, Canada and Mexico)

Europe (Germany, UK, France, Italy, Russia and Spain etc.)

Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)

South America Brazil, Argentina, Colombia and Chile etc.)

Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

Browse the comprehensive TOC and data tables @ https://www.emergenresearch.com/industry-report/sports-technology-market

You need to discover how this will impact the Sports Technology market today, and over the next 10 years:

• Our 250-page report provides 194 tables and 189 charts/graphs exclusively to you.

• The report highlights key lucrative areas in the industry so you can target them – Now.

• It contains in-depth analysis of global, regional and national sales and growth.

• It highlights for you the key successful trends, changes and revenue projections made by your competitors.

This report tells you Today how the Sports Technology market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.

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How will the Sports Technology Market, 2021 to 2028 report help you?

In summary, our 250-page report provides you with the following knowledge:

• Revenue forecasts to 2028 for Sports Technology Market, 2021 to 2028 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.

• Revenue forecasts to 2028 for four regional and 20 key national markets – See forecasts for the Sports Technology Market, 2021 to 2028 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.

• Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Sports Technology Market, 2021 to 2028.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.

Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors

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The global sports technology market size is expected to reach USD 40.22 Billion by 2028