Published: February 2023 | Report Code: 12534 | Available Format: PDF
The sports technology market size stood at USD 13,545 million in 2022, and it is expected to advance at a compound annual growth rate of 18.60% during 2022–2030, to reach USD 53,020 million by 2030. This is primarily ascribed to the rising focus on entertaining and managing fans at stadiums, the increasing focus on player improvement and team performance, the surging adoption of e-sports technology, and the presence of a large number of game associations across the globe.
The usage of artificial intelligence in games has resulted in automated ticket sales, enhanced athlete output in leagues or matches, improved athlete training, and boosted athlete performance. For instance, AI can offer real-time feedback during weight training to maximize the results of an exercise and develop specialized training plans. It is projected that throughout the forecast period, the application of AI and IoT will present a profitable potential for the expansion of the market.
Additionally, industry participants today are making efforts to boost the usage of technologies in games, with the aid of AI and cameras, which nowadays capture sporting events and also select highlights of a game for distribution to TV platforms or mobile devices. Also, a natural language feature has been developed that converts raw data from minor league games into readable blogs.
A lot of sensors are used to optimize training, game-day decision-making, and recovery. After the introduction of AR and VR technologies, the of way seeing indoor, outdoor, virtual, and reality gaming is fully changed. These technologies are widely adopted in the world of games mainly in football or soccer and in several stadiums to better the viewing experience of spectators and players, enhance sports broadcasting, improve interactive advertising, and others. Moreover, VR delivers a resolution by which a player can practice in a real and safe atmosphere, and AR delivers a new way to experience games for both at-home and in-stadium spectators.
For example, Star Sports and Quidich Innovation Labs, in May 2022, partnered to develop an amazing AR display using a potent real-time 3D game engine Unreal Engine, and Quidich's Spatio, a unique real-time drone tracking system. The Tokyo Olympics used VR live streaming to give viewers a 360-degree experience, who could not attend the event. In addition, with the help of Sony's VR experts, the first football stadium is constructing in Manchester City.
Various sports teams and platforms have support from major brands and AR providers with a new and interactive method to promote their devices and engage their consumers. For instance, ADI’s Virtual Hybrid digiBOARD, recently used in soccer matches, helps companies to target other global viewers with personalized virtual feeds of publicity. The Sony-owned Hawk-Eye system, currently applied in cricket, soccer, tennis, and badminton grounds can recreate a ball’s trajectory with high accuracy within less than 10 s.
In addition, it can be even used for learning and practicing different games with the help of real-time data visualization of one’s actions, speed, accuracy, and technique. For instance, PuttView uses the power of AR to enable golfers with their aim and swing. Similarly, DribbleUp uses a mixed format of smart basketballs and soccer balls with AR-based applications to help kids get trained at home.
The smart stadiums category accounted for the largest revenue share in 2022, and it is expected to remain the largest over the next few years. This is because sports technology is widely used in stadiums to reinforce security, increase income, and enhance fans’ experience. It aids organizers in maintaining services in stadiums, such as live tracking of parking, online sales of tickets, and food concessions. Also, an amalgamation of IoT devices enables in designing of wireless connections and interactive seats, which have fueled the adoption of sports technology in stadiums.
Report Attribute | Details |
Historical Years |
2017-2022 |
Forecast Years |
2023-2030 |
Market Size in 2022 |
USD 13,545 Million |
Revenue Forecast in 2030 |
USD 53,020 Million |
Growth Rate |
18.60% CAGR |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Segments Covered |
By Technology; By Sports; By Region |
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The sports analytics category is projected to witness the highest CAGR, of 19.6%, in the coming years. This can be because sports technology can be used in team performance analysis, health assessment, player analysis, hospitality management, data interpretation, marketing and sales management, and others. For instance, Wimbledon and IBM, in June 2022, unveiled a digital platform for player insights.
The basketball category is expected to record the fastest growth, advancing at a CAGR of 19.1%, during the forecast period. The growth can be primarily because of the fast adoption of technology such as data analytics, mobile apps, heart rate monitoring sensors, and wearable devices in this game to enhance the performance of players. For example, in 2020, an analytics department was formed for all the National Basketball Association teams to improve their day-to-day performance by optimizing effective practice sessions.
Moreover, the rugby category has shown significant growth in the industry. Sports technology has the potential to grab the attention with the increasing usage of IoT sensors in this game. It enables players to figure out the collision impact of opponents in between the game and empowers them to make smart decisions to form a better game strategy.
The MEA market is projected to grow at a steady growth rate with a CAGR of more than 19% in the forecasted period. The growth can be mainly attributed to the upcoming mega sporting events in the region. In addition, governments take several steps to broaden their economy by investing in sporting activities. For instance, the GCC associate states, including the U.A.E. and Saudi Arabia, have expended almost USD 65 billion on the sports industry.
North America accounted for the significant market share in 2022, and it is also projected to continue in its position throughout the forecast period. This is because the demand for sports technology is high in the region, due to the presence of several software companies, and the advanced culture of leagues, events, and games.
In North America, the U.S. holds the majority of the market share. This is due to the availability of enhanced and improved sports technology products and platforms, the growing internet penetration, the launch of cutting-edge video game consoles, and the high spending power of people in the country.
Sports event organizers are funding digital technologies to make special game-viewing experiences in stadiums and on digital gadgets. Stadium owners are enhancing their stadiums with several technologies, such as location-based services, Wi-Fi, digital kiosks, 360-degree ultra-high-definition cameras, and digital signage, to enhance the fans' experience in the stadiums.
For example, in August 2022, Cisco unveiled The Connected Scarf, in support of the brand's collaboration with Manchester City FC and City Football Group. It is a piece of wearable technology that helps monitor a spectator's emotional journey for a football match to provide insight into the interconnection between the club and its fans.
This fully customizable report gives a detailed analysis of the market from 2017 to 2030, based on all the relevant segments and geographies.
Based on Technology
Based on Sport
Geographical Analysis
The sports technology market size stood at USD 13,545 million in 2022.
During 2022–2030, the growth rate of the sports technology market will be around 18.60%.
Smart Stadiums is the largest technology type in the sports technology market.
The major drivers of the sports technology market include the increasing focus on entertaining and managing fans at stadiums, improving team and individual player performance, and tracking the health and fitness of players; the presence of a large number of sports associations; and the surging adoption of e-sports technologies across the world.
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