Sports technology market size to increase by USD 29.95 billion | Europe to account for 36% of market growth – Technavio

NEW YORK, Dec. 11, 2023 /PRNewswire/ — The Sports Technology Market by End-user, Technology, and Geography – Forecast and Analysis 2023-2027 report has been published by Technavio. Market size is forecast to grow by USD 29.95 billion between 2022 and 2027. However, the growth momentum will be decelerating at a CAGR of 23.36%. By region, the global sports technology market is segmented into Europe, North America, APAC, South America, and Middle East and Africa. Europe will account for 36% of market growth during the forecast period. Europe was the leading geographical segment, with a high demand for sports technology in Western and central Europe. Factors such as the increase in the adoption of smart wearables and the rising demand for IoT-operated connected fitness devices drive the regional sports technology market. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download A PDF Sample Report

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Company Profiles

The sports technology market report includes information on the key products and recent developments of leading vendors, including:

Catapult Group International Ltd. – The company offers sports technology solutions such as Hudl App.Chetu Inc. – The company offers sports technology solutions such as Vector Mouthguard.Cisco Systems Inc. – The company offers sports technology solutions such as Catapult One.Epicor Software Corp. – The company offers sports technology solutions such as Sports Management Software development.

Market Dynamics

The market is driven by factors such as the rising number of sports technology events, increased emphasis on IoT, and the increased demand for wearable devices and fitness trackers. However, an increasing number of fatalities in hard adventure sports activities hindering the market growth.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Request a Sample

Market Segmentation

By end-user, the market is classified into sports associations, clubs, and leagues. The sports associations accounted for the largest share of the market in 2022.By geography, the market is classified as Europe, North America, APAC, South America, and Middle East and Africa. Europe held the largest share of the market in 2022.

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CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the sports technology market between 2023 and 2027Precise estimation of the sports technology market size and its contribution to the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the market across Europe, North America, APAC, South America, and Middle East and AfricaThorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of sports technology market vendors

TOC

Executive SummaryMarket LandscapeMarket SizingHistoric Market SizeFive Forces AnalysisMarket Segmentation by End-UserMarket Segmentaion by TechnologyCustomer LandscapeGeographic LandscapeDrivers, Challenges, and TrendsCompany LandscapeCompany AnalysisAppendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio