Sports Technology Market was valued at US$ 13.65 Bn. in 2021 and is expected to reach US$ 46.98 Bn. by 2029, at a CAGR of 16.7% during a forecast period.
Sports Technology Market Overview:
To find the overall size of the Sports Technology market by nations and segments, the research conducted a micro level investigation of each country. The local and global markets' sizes are estimated using a bottom-up methodology. By conducting a micro-level analysis of each nation, it is possible to determine how much the unorganised market contributes to the size of the larger market. The Sports Technology market dictates the thorough analysis carried out by the company organisation to comprehend the Sports Technology market's drivers, restraints, and opportunities. Interviews with significant local businesspeople follow, and the results are then verified. For secondary research and analysis, both paid and unpaid data bases are utilized. The provision and consumption information for each player is gathered from public databases, private databases, and, in the case of publicly listed enterprises, the earnings data of the company. If financial documents from businesses are not made available to the public, they may be requested through the local government's budget division.
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Sports Technology Market Dynamics:
The demand for data-driven decision-making is rising: Data-driven decision-making has been used in the corporate world for a few years since the introduction of Artificial Intelligence (AI) and Machine Learning (ML). The emergence of a centralised structure for businesses to use accurate data to support group decision-making has also prompted management and sports teams around the world to adopt cutting-edge technologies. On the other hand, the rapid adoption of data-based decision-making models has led to a dramatic increase in the amount of data generated during every sporting event. Massive amounts of data must be computed, processed, and evaluated in order to gain a thorough understanding of player metrics, health, and performance throughout the league or tournament. Adoption of wearable technology provides these stats to the team management for better analysis, enabling the development of a team plan.
Sports Technology Market Segmentation:
Soccer had the largest market share in terms of sport in 2021. FIFA gave team analysts the right to communicate with coaches during live matches in real-time regarding player performance in March 2018. At the 2018 FIFA World Cup, the Video Assistant Referee (VAR) was initially used to aid on-field officials in making decisions. Technology can be used in soccer to gather useful information about a player's fitness and make defensible decisions. Digitalization also makes it possible for supporters to interact with football clubs outside of a 90-minute match. Because of this, despite its slow start, technological use in soccer has been expanding recently.
Sports Technology Market Key players:
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Sports Technology Market Research methodology:
To calculate and validate the size of the Sports Technology market, top-down and bottom-up approaches are utilised. Players rigorously abide by numerous industry classification criteria in order to create an exhaustive list of functioning and important players. A thorough validation test is also carried out to determine which businesses on the market are the most pertinent for the investigation. Subscription databases like Factiva, Bloomberg, and others are used to order priority lists according to the revenue from the most recent quarter. Last but not least, the questionnaire was designed and specifically developed to meet all criteria for collection of primary data by appointment only, focusing on the main target categories. This helps us collect data on player earnings, operating expenses, profit, and the development of various goods and services, among other things. The World Bank, associations, business websites, SEC filings, OTC BB, USPTO, EPO, annual reports, press releases, and close to 70–80% of the data are acquired from primary sources before being confirmed by a range of secondary sources.
Sports Technology Market Regional Analysis:
North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America are the five major geographic regions of the Sports Technology market.
Key Features of the Reports:
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Smartphone Security Market , Healthcare Workforce Management Systems Market
Maximize Market Research provides B2B and B2C research on 12,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Bever
Sports Technology Market , Sports Technology , Smart Wearable , Sports Technology Market Size , Sports Technology Market Trends
Nov 25, 2022
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