COPYRIGHT © DIGITAL JOURNAL INC. Sitemaps: XML / News. Digital Journal is not responsible for the content of external sites. Read more about our external linking
Sports Technology Market Drivers
Increasing Adoption of Emerging Technologies to Boost Market Growth
The increasing adoption of emerging technologies like data analytics and the internet of things along with social media integration across different sports will boost market growth over the forecast period.
Market Analysis
The global sports technology market will touch USD 43.6 billion at a favorable 10.7% CAGR by 2027, states the new Market Research Future (MRFR) report.
Opportunities
Increasing Investments by Organizations to offer Robust Opportunities
The increasing investments by different organizations in adopting the current technologies to monitor the performance of the players and engaging fans among various other activities will offer robust opportunities for the market over the forecast period.
Restraints and Challenges
Budget Constraints and High Initial Investment to act as Market Restraint
High initial investment and budget constraints may act as market restraint over the forecast period.
COVID-19 Analysis
The COVID-19 crisis has taken its toll on various industries which also includes sports and associated industries. Many game events and tournaments such as the Olympics have been postponed or their format got altered. The government imposed lockdowns too adversely impacted the production of digital signage and wearables. Reduced working hours and limited staff too impacted the market growth.
Get a FREE Sample PDF@ https://www.marketresearchfuture.com/sample_request/10579
Key Players
Eminent players profiled in the global sports technology market report include Apple Inc. (US), Catapult Sports (Australia), ChyronHego Corporation (US), Cisco Systems, Inc. (US), HCL Technologies Limited (India), IBM Corporation (US), Infosys Limited (India), Modern Times Group (MTG) (Sweden), Oracle Corporation (US), Panasonic Corporation (Japan), SAP SE (Germany), Sony Corporation (Japan), Stats LLC (US), and Telefonaktiebolaget LM Ericsson (Sweden).
The global sports technology market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, new product launches and more. Besides, they are also investing in various research and development activities.
Buy Now report with Industry Analysis@ https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=10579
Market Segmentation
The global sports technology market is bifurcated based on technology type and sports.
By technology type, the devices segment will lead the market over the forecast period.
By sports, the basketball segment will dominate the market over the forecast period.
Enquire for Discount@ https://www.marketresearchfuture.com/check-discount/10579
Regional Analysis
North America to Head Sports Technology Market
North America will head the sports technology market over the forecast period. Concentration of major sports tournaments and leagues, large talent pool of competent analysts, the region being at the cutting-edge of innovative and emerging technologies, the presence of several data analytics service providers and software companies, and the well-developed culture of league sports are adding to the global sports technology market growth in the region. Besides, the proliferation of the technology industry, growing adoption in the US and Canada, organizations implementing AI/ML solutions, growing trend of data-driven decision-making and wearable device innovations, high concentration of market players, abundant availability of competent technical expertise, increasing demand for operative building automation and also effective event management of big sporting events, and increasing consumer interest in esports technologies are adding to the global sports technology market growth in the region.