Growing number of smart sports stadiums and increasing adoption of new and more advanced technologies in the sports industry are key factors driving the market
VANCOUVER, BC, CANADA, April 19, 2022 /EINPresswire.com/ — Global sports technology market The research report published by Emergen Research describes in detail the vital aspects of the sports technology market on a global as well as regional level. The report offers a comprehensive assessment of recent technological developments, product advancements, current and emerging trends, key statistical data, forecast estimates, and major companies operating in the market. The report covers the impact of the pandemic on the sports technology industry with a particular focus on the key affected segments of the industry.
The global sports technology market size is expected to reach USD 40.22 billion by 2028 and register a robust double-digit CAGR during the forecast period. The steady growth of the market can be attributed to the increasing adoption of new technologies in the sports industry such as big data analytics, artificial intelligence (AI), cloud services, wearable devices, and drones. The use of Video Assistant Referee (VAR) during the 2018 FIFA World Cup in Russia was the start of the trend, which is another key driver for the deployment of sports technology in the global sports industry. sport. The VAR system operated from a video control room and could communicate with the referee on the football pitch to review a game.
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Greater accuracy of the VAR system is driving its adoption in the sports industry. The growing need for fairer gameplay, safer and potentially more profitable events are other key factors currently driving the adoption of sports technology solutions. Another key factor driving the adoption of smart technologies in the sports industry.
The research study presents an industry-wide summary of the Sports Technology Market including drivers, restraints, technological advancements, product developments, limitations, growth strategies, prospects for growth, etc., among others. The Global Sports Technology Research Report is an investigative study of the market that offers key statistical data regarding market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate agreements, among others. The report further offers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Companies Featured in Global Sports Technology Market:
IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC Corp., LG, Sharp Corporation and Samsung
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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)
Technology Outlook (Revenue, USD Billion; 2021-2028)
The regional bifurcation of the sports technology market includes:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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In June 2019, IBM and FOX Sports partnered to transform the production of the FIFA Women’s World Cup France 2019 event. This helped transform the production of the event by infusing the analysis of artificial intelligence and live streaming during the game.
The soccer segment accounted for the largest share of revenue in 2020, driven by the growing adoption of advanced technologies such as AI, big data analytics, cloud services, drones, and wearable devices.
Devices segment revenue is expected to grow at a rapid CAGR during the forecast period. Benefits offered by wearable devices include injury prevention during training, player safety assessment tool, and fitness and performance metrics, which is driving the demand for wearable devices.
Key questions answered by the report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements in the market?
What are the key strategies adopted by the leading players in the Sports Technology market?
What are the main product types and applications of the sports technology industry?
What is the result of the SWOT analysis and Porter’s five forces analysis?
What is the Competitive Landscape of the Sports Technology Market?
Who are the major players in the industry?
What is the growth rate of the industry in the coming years?
What will be the valuation of the sports technology market by 2028?
Chapter 1. Methodology and sources
Chapter 2. Executive Summary
Chapter 3. Key Information
Chapter 4. Sports Technology Market Segmentation and Impact Analysis
Chapter 5. Sports Technology Market by Sports Insights and Trends, Revenue (USD Billion)
Chapter 6. Sports Technology Market by Process Insights & Trends Revenue (USD Billion)
Chapter 7. Regional Sports Technology Market Outlook
Chapter 8. Competitive Landscape
Chapter 9. Business Profiles
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