Industry Background:
Sports technology has been developing the sports arena by adopting technologies in outdoor sports activities such as cricket, football, soccer, rugby, etc. These games are contributing expressively in terms of revenue to the sports technology market. Moreover, indoor sports are also contributing to sports technology. However, the adaption of sports technology is less in indoor sports as compared to outdoor sports. The advantage of sports technology is that it will help the players to deliver better performance and will ensure leisure and entertainment with safety. The clubs segment is expected to make a significant growth of the sports technology market over the forecast period.This growth is primarily driven by Significant Improvement in Audience Engagement, Growing Demand for Data-Driven Decisions and Operations and Increasing Sports Events, Online, and Offline.
Globally, a noticeable market trend is evident Adoption of Social Media Analytics, Cloud computing, IoT, and Smart Devices in Sports Technology. Major Players, such as IBM (United States), Ericsson (Sweden), Cisco (United States), Fujitsu (Japan), SAP (Germany), Oracle (United States), NEC (Japan), LG (South Korea), Sharp (Japan), Samsung (South Korea) and Fitbit (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2018, Fitbit collaborated with Google to innovate and transform the future of digital health and wearables.
In October 2018, NEC launched NEC ALP, a powerful business intelligence analytics platform for retailers that enables real-time content delivery and data measurement.
Market Drivers
- Significant Improvement in Audience Engagement
- Growing Demand for Data-Driven Decisions and Operations
- Increasing Sports Events, Online, and Offline
Market Trend
- Adoption of Social Media Analytics, Cloud computing, IoT, and Smart Devices in Sports Technology
Restraints
- High Initial Investment and Budget Constraints
- High Cost of Installing this Technology
Opportunities
Growing Sports Leagues and Increasing Number of Events with Large Prize Pools and Growing Awareness Regarding this Technology in both Developed and Developing nations
Challenges
Complexities in Upgrading and Replacing Legacy Systems and Risk of Technology Glitches at Live Events
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Sports Technology Study Sheds Light on
The Sports Technology Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Sports Technology industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Sports Technology industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.