Sports Technology Market by Technology (Device, Smart Stadium, Esports, Sports Analytics), Sports (Soccer, Baseball, Basketball, Ice Hockey, American Football/ Rugby, Tennis, Cricket, Golf, Esports), and Geography - Global Forecast to 2024, The sports technology market was valued at USD 8.9 billion in 2018 and is projected to reach USD 31.1 billion by 2024; it is expected to grow at a CAGR of 20.63% during the forecast period. 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.

Key Market Players

Leading players in the sports technology market includes IBM (US), Ericsson (Sweden), Cisco (US),  Fujitsu (Japan), SAP (Germany), Oracle (US), 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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IBM was a leader in 2 of the segments: smart stadium and sports analytics. IBM focuses on organic growth by continuously expanding its product capabilities. The company holds expertise in big data and analytics technologies, which helps its customers in leveraging the huge amount of data generated from network elements and internet devices. With ample resources and expertise, IBM was a leading player in the smart stadium and sports analytics markets.

Recent Developments

In October 2018, NEC launched NEC ALP, a powerful business intelligence analytics platform for retailers that enables real-time content delivery and data measurement.
In April 2018, Fitbit collaborated with Google to innovate and transform the future of digital health and wearables.
In June 2018, Fujitsu expanded its sports analytics business in Japan through RUN.EDGE—a Fujitsu subsidiary established through a company split
Critical questions the report answers:

Where will all the developments take the industry in the mid- to long-term?
What are the emerging applications that are expected to drive the sports technology market?
What are the key strategies adopted by leading companies in the sports technology market?
What are the trends prevalent in the sports technology market?
What advanced technologies are expected to gain traction in the sports technology market?
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