The Global sports technology market size attained a value of USD 18,225.4 million in 2022. The market is further expected to grow in the forecast period of 2023-2030 at a CAGR of 11.21% to reach USD 33,214.3 million by 2030.

This growth can be attributed to the increasing demand for advanced analytics tools and wearable technology for sports training and performance analysis, as well as the rising popularity of esports and virtual sports.

The global sports technology market refers to the industry that develops and provides technology solutions and services for various sports-related activities. This includes the use of advanced analytics, wearable technology, virtual and augmented reality, broadcasting and streaming technology, and other digital tools to enhance the experience of athletes, coaches, and fans.

Some of the key players in the sports technology market include IBM, SAP, Catapult Sports, Zebra Technologies, Garmin, and Stats Perform. These companies offer a wide range of products and services, such as data analytics tools, wearable technology for tracking biometric data, broadcasting and streaming solutions for live sports events, and virtual and augmented reality experiences for fans.

The sports technology market is expected to continue to grow as more athletes, coaches, and fans adopt digital tools and technologies to enhance their sports experience. In addition, the COVID-19 pandemic has accelerated the adoption of virtual and remote sports technologies, such as live streaming and esports, which is expected to further fuel the growth of the market.

Market Dynamics

Driving Factors

There are several driving factors contributing to the growth of the global sports technology market, including:

Technological advancements: Advancements in technology, such as 5G networks, cloud computing, and artificial intelligence, are driving innovation in the sports technology market, enabling the development of new products and services.

Impact of COVID-19: The COVID-19 pandemic has accelerated the adoption of digital technologies in sports, with fans turning to live streaming and esports as a way to stay connected to their favorite sports and teams. This has further fueled the growth of the sports technology market.

Restraining Factors

There are several driving factors contributing to the growth of the global sports technology market, there are also some restraining factors that could slow down or limit this growth. Some of the key restraining factors include:

Regulation and compliance: Sports technology solutions may be subject to regulation and compliance requirements, which can add complexity and cost to the development and implementation of these solutions.

Economic uncertainty: Economic uncertainty and market volatility could impact the willingness of organizations and individuals to invest in sports technology solutions, which could slow down growth in the market.

Challenges Factors

In addition to the restraining factors, there are several challenges that the global sports technology market faces. These challenges include:

Limited funding: Smaller organizations and startups in the sports technology market may struggle to secure funding to develop and market their solutions, which can limit their ability to compete with larger players.

Legal and ethical issues: The use of sports technology solutions raises legal and ethical issues, such as ownership of data and privacy concerns, which can impact adoption and use of these solutions.

Opportunity Factors

The global sports technology market presents a number of opportunities for organizations and individuals looking to capitalize on the growth of this industry. Some of the key opportunities include:

Esports: The esports market is growing rapidly, and there is significant opportunity for organizations to develop new broadcasting and streaming solutions to meet the growing demand for esports content.

Smart stadiums and venues: The development of smart stadiums and venues offers significant opportunity for organizations to provide new and innovative services to fans and enhance the overall sports experience.

Partnerships and collaborations: The sports technology market is still relatively new, and there is significant opportunity for organizations to form partnerships and collaborations to develop new solutions and drive growth in the market.

Segmentation Analysis

Technology Outlook

Wearable technology segment includes products such as smartwatches, fitness trackers, and biometric sensors, which are used by athletes to monitor and track biometric data to optimize their performance. This segment is expected to see significant growth as more athletes and teams adopt these technologies.

Digital broadcasting and streaming segment includes solutions for broadcasting and streaming sports events online, such as live streaming platforms and over-the-top (OTT) services. This segment is expected to see significant growth as more fans turn to digital channels to watch sports events.

Data analytics segment includes solutions for analyzing and interpreting sports data, such as player performance data and team statistics. This segment is expected to see significant growth as more teams and organizations adopt advanced analytics solutions to gain a competitive edge.

Esports and gaming segment includes solutions for broadcasting and streaming esports events, as well as technologies for gaming and virtual competitions. This segment is expected to see significant growth as the esports industry continues to grow.

Smart stadiums and venues segment includes solutions for enhancing the fan experience at sports events, such as mobile apps, in-stadium Wi-Fi, and interactive displays. This segment is expected to see significant growth as more stadiums and venues adopt smart technologies to enhance the fan experience.

Virtual and augmented reality segment includes technologies for creating immersive experiences for fans, such as virtual reality headsets and augmented reality displays. This segment is expected to see significant growth as more organizations explore new ways to engage with fans using these technologies.

Regional Analysis

North America is a significant market for sports technology, with the United States being a major contributor to the market growth. The region is home to many leading sports technology companies and has a large population of sports enthusiasts. The North American market presents opportunities for growth in areas such as wearable technology, broadcasting and streaming, and esports.

Europe is another significant market for sports technology, with countries such as the United Kingdom, Germany, and France contributing to the market growth. The region has a strong sports culture and is home to many leading sports organizations and teams. The European market presents opportunities for growth in areas such as digital broadcasting, sports analytics, and smart stadium technology.

The Asia Pacific region is a rapidly growing market for sports technology, with countries such as China, Japan, and South Korea being major contributors to the market growth. The region has a large population of sports enthusiasts and is home to many emerging sports technology companies. The Asia Pacific market presents opportunities for growth in areas such as esports, wearable technology, and virtual and augmented reality.

Latin America is an emerging market for sports technology, with countries such as Brazil and Mexico contributing to the market growth. The region has a growing sports culture and is home to many talented athletes and teams. The Latin American market presents opportunities for growth in areas such as sports analytics, broadcasting and streaming, and smart stadium technology.

The Middle East and Africa is also an emerging market for sports technology, with countries such as the United Arab Emirates and South Africa contributing to the market growth. The region has a growing interest in sports and is home to many upcoming sports events. The Middle East and Africa market presents opportunities for growth in areas such as wearable technology, esports, and smart stadium technology.

Scope Of Report:

The Global Sports Technology Market has been segmented into:

By Technology

• Devices
• Wearables
• Digital Signage
• Smart Stadium

By Software

• Stadium & Public Security
• Building Automation
• Event Management
• Others

By Services

• Analytics & Statistics
• Esports
• Tickets & Merchandise
• Sponsorship & Advertisement
• Others

By Sports

• American Football/Rugby
• Baseball
• Basketball
• Cricket
• Golf
• Ice Hockey
• Tennis
• Soccer
• Others

By Region

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Market Players 

The global sports technology market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• Apple Inc.
• ChyronHego Corporation
• Cisco Systems, Inc.
• HCL Technologies Limited
• IBM Corporation
• Infosys Limited
• Modern Times Group MTG
• Oracle
• Panasonic Corporation
• SAP SE
• Sony Corporation
• Stats LLC
• Telefonaktiebolaget LM Ericsson

IBM Corporation provides sports technology solutions that help athletes and teams to analyze their performance, manage data, and improve their training. The company offers solutions such as IBM Sports Insights Central, which provides data analytics and insights for sports teams and organizations.

SAP SE offers sports technology solutions that help teams and organizations to manage their operations, finances, and performance. The company offers solutions such as SAP Sports One, which provides real-time insights and analytics for sports teams.

Catapult Sports Pty Ltd. provides wearable technology solutions for athletes and teams. The company offers solutions such as Catapult PLAYR, a GPS tracking device that helps amateur athletes to improve their performance.

Stats Perform offers sports technology solutions that help teams, media outlets, and sports organizations to analyze data, provide insights, and improve fan engagement. The company offers solutions such as Stats Perform Integrity Services, which helps to monitor and prevent match-fixing and corruption in sports.

Deltatre offers sports technology solutions that help media outlets, teams, and sports organizations to manage their digital and media assets. The company offers solutions such as Deltatre Mtribes, which provides personalized content and experiences for sports fans.

Hawk-Eye Innovations Ltd. provides sports technology solutions that help to improve officiating, fan engagement, and broadcasting. The company offers solutions such as Hawk-Eye Live, which provides real-time data and insights for broadcasters and media outlets.

Sportradar offers sports technology solutions that help to monitor and analyze data, provide insights, and prevent fraud and corruption in sports. The company offers solutions such as Sportradar OTT, which provides over-the-top streaming services for sports fans.

Strategic Developments

In January 2022, Stats Perform announced the acquisition of iSport Genius, a sports data insights and technology company, to enhance its sports betting solutions.

In September 2021, Catapult Sports acquired PlayerTek, a wearable technology company that provides performance tracking solutions for amateur athletes.

In August 2021, Deltatre announced a partnership with American multinational technology company Microsoft, to enhance its sports broadcasting and streaming solutions.

In July 2021, sports betting company DraftKings announced the acquisition of Blue Ribbon Software, a company that provides custom games and engagement solutions for sports fans.

In March 2021, sports data company Genius Sports announced a merger with special purpose acquisition company dMY Technology Group II, to become a publicly traded company.

In December 2020, wearable technology company Whoop raised $100 million in a funding round led by IVP, to expand its products and services for athletes.

In September 2020, sports betting company Sportradar announced a partnership with the National Football League (NFL) to provide data for its official sports betting partners.