Sports Technology Market to be Worth $55.14 Billion by 2030: Grand View Research, Inc.

Read 171-page full market research report, "Sports Technology Market Size, Share & Trends Analysis Report By Type (Devices, Smart Stadium, Analytics & Statistics, Esports), By Sport (Basketball, Cricket, Golf, Ice Hockey), By End-user, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Sports Technology Market Growth & Trends

The considerable rise in the number of sports events across the globe has provided sports technology companies with ample opportunities to cater to the market by thoroughly understanding the components related to sports by monitoring athletes and events. Several innovative solutions are being employed to improve sports performance. For instance, in March 2023, Catapult announced to launch of the Vector T7, a new athlete monitoring solution. The new solution is 73% smaller than the preceding offering. It is powered by the company's ClearSky Local Positioning System, which provides performance insights, helps mitigate injury risk, and makes live in-game decisions.

The prominent players operating in the sports technology market are also focusing on employing stadium technologies to manage the crowd and provide an enhanced fan experience. For instance, Nokia Corporation collaborated with Singtel Optus Pty Limited to provide extensive coverage to indoor zones such as VIP areas or corporate boxes using the 5G AirScale indoor Radio (ASiR) solution.

The global outbreak of the COVID-19 pandemic made a severe impact on the sports industry as competitions and matches were either postponed or cancelled. However, sports technology gained significant momentum during this period as sports organizations and leagues employed several techniques to increase fan engagement. While athletes competed in empty arenas, technology provided fans a better viewing experience. The social media updates, live updates, new camera angles, and the use of VR headsets further improved the viewing experience for the fans, thereby positively influencing the sports technology market outlook.

Sports Technology Market Segmentation

Grand View Research has segmented the global sports technology market based on type, sport, end-user, and region

Sports Technology Market - Type Outlook (Revenue, USD Billion, 2018 - 2030)

Sports Technology Market - Sport Outlook (Revenue, USD Billion, 2018 - 2030)

Sports Technology Market - End-user Outlook (Revenue, USD Billion, 2018 - 2030)

Sports Technology Market - Regional Scope (Revenue, USD Billion, 2018 - 2030)

List of Key Players of Sports Technology Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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