Sports Technology Market Size, Share, Growth, Trends | Report 2022-2030
The global sports technology market size was estimated at around USD 12.2 billion in 2021 and it is projected to hit around USD 55.3 billion by 2030, growing at a CAGR of 18.28% from 2022 to 2030.
Report Highlights
In recent years, professional sports organizations have been using new technologies like smart stadiums, sports data analytics, wearable gadgets, and digital signage to engage spectators, improve team performance, and create smart infrastructures. The increase in the number of sporting events worldwide has made smart stadiums one of the most important global trends.
Sports have become a significant source of entertainment in the past few years, and the need for engaging an audience has subsequently increased. As a result, sports technology companies have seized the opportunity to cater to the market by thoroughly understanding the various components related to sports by monitoring athletes and events. Stadium technologies have been implemented to manage the crowd and provide a leading-edge experience to the fans. For instance, Nokia Corporation and Singtel Optus Pty Limited have collaborated to give extensive coverage to indoor zones such as VIP areas or corporate boxes using the 5G AirScale indoor Radio solution (ASiR).
Advanced technologies are being tried and tested to improve sports performance. Key players are developing products around brain stimulation to activate and inhibit the brain with electric energy. For instance, Halo Sports 2, introduced in 2019 by Halo Neuroscience, is a brain stimulator used to advance muscle memory and create new circuits, increasing athlete’s performance.
The onset of the COVID-19 pandemic had a significant impact on the sports industry as competitions and matches were either postponed or canceled. However, the sports technology market maintained steady growth during the pandemic. While athletes competed in empty arenas, technology provided fans with a better viewing experience. Sports and leagues employed various techniques to increase fan engagement. Fans' viewing experience and engagement improved due to increased social media updates, live updates, new camera angles, and the use of VR headsets.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 12.2 billion |
| Revenue Forecast by 2030 | USD 55.3 billion |
| Growth rate from 2022 to 2030 | CAGR of 18.28% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Technology, sports, region |
| Companies Covered |
Apple, Inc.; ChyronHego Corp.; Cisco Systems, Inc.; HCL Technologies Ltd.; IBM Corp.; Infosys Ltd.; Modern Times Group MTG; Oracle; Panasonic Corp.; SAP SE; Sony Corp.; Stats LLC; Telefonaktiebolaget LM Ericsson |
Technology Insights
Esports account for around 13.06% of the total revenue share in 2021. Although the segment currently contributes significantly less than the devices and smart stadium segment, it is expected to proliferate at the highest CAGR over the forecast period. Esports games like PUBG: Battlegrounds, Fortnite, and League of Legends have witnessed a growing demand in the past few years. Recently, Twitch, a streaming platform mainly focuses on live streaming of esport events and video games, witnessed fans spend 24 million hours watching streamers in 2021, a 45% increase in viewership compared to 2020.
The analytics and statistics segment is anticipated to record the second-highest CAGR during the forecast period. In a sports environment, digital analytics has various on-field uses, including managing group individuals and performance, which is expected to grow due to the need to detect game patterns and athlete performance.
Sports Insights
Soccer held the largest revenue share as of 2021 and is forecasted to witness significant growth of more than 21.1% CAGR in the forthcoming years. The soccer game has gained popularity in countries like the U.S., Russia, and Mexico. For instance, in December 2021, the ESPN network witnessed an average of 1.14 million viewers in the Portland Timbers vs. New York City FC match, a 38% rise compared to views in 2019.
Cricket is expected to showcase a significant CAGR of around 20% during the forecast period. Cricket is extremely popular in South Asian countries like India, Pakistan, and Bangladesh. Significant cricket events are organized around the globe each year, like the Indian Premier League, ICC Men's T20 World Cup, England and Wales Cricket Board, and many more. These events attract a considerable number of spectators and generate high revenues and are some of the factors that may contribute to the segment's growth.
Regional Insights
In 2021, Europe accounted for approximately 30.5% of revenue and is expected to maintain its dominance over the forecast period. The primary factor contributing to the market's development is the presence of numerous sports leagues such as the Premier League, English Football League, and LaLiga. Popular sports influencing the European region are football, tennis, and rugby.
Middle East and Africa is expected to acknowledge the second-fastest growth, recording a CAGR of more than 20.2% over the forecast period. For instance, Dubai is expected to host various sports events like the Al Gaffal long-distance race and Emirates T20 League in 2022, which could promote the growth of the industry in the region.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Sports Technology Market
5.1. COVID-19 Landscape: Sports Technology Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Sports Technology Market, By Technology
8.1. Sports Technology Market, by Technology, 2022-2030
8.1.1. Devices
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Smart Stadium
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Analytics & Statistics
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Esports
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Sports Technology Market, By Sports
9.1. Sports Technology Market, by Sports, 2022-2030
9.1.1. American Football/Rugby
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Baseball
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Basketball
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Cricket
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Golf
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Ice Hockey
9.1.6.1. Market Revenue and Forecast (2017-2030)
9.1.7. Tennis
9.1.7.1. Market Revenue and Forecast (2017-2030)
9.1.8. Soccer
9.1.8.1. Market Revenue and Forecast (2017-2030)
9.1.9. Others
9.1.9.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Sports Technology Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Technology (2017-2030)
10.1.2. Market Revenue and Forecast, by Sports (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Technology (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Sports (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Technology (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Sports (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Technology (2017-2030)
10.2.2. Market Revenue and Forecast, by Sports (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Technology (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Sports (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Technology (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Sports (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Technology (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Sports (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Technology (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Sports (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Technology (2017-2030)
10.3.2. Market Revenue and Forecast, by Sports (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Technology (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Sports (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Technology (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Sports (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Technology (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Sports (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Technology (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Sports (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Technology (2017-2030)
10.4.2. Market Revenue and Forecast, by Sports (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Technology (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Sports (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Technology (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Sports (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Technology (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Sports (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Technology (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Sports (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Technology (2017-2030)
10.5.2. Market Revenue and Forecast, by Sports (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Technology (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Sports (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Technology (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Sports (2017-2030)
Chapter 11. Company Profiles
11.1. Apple Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. ChyronHego Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Cisco Systems, Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. HCL Technologies Limited
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. IBM Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. IBM Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Modern Times Group MTG
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Oracle
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Panasonic Corporation
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. SAP SE
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers