Smart Sports Equipment Market to grow by USD 19.15 billion from 2022 to 2027, Adidas AG, ANTA Sports Products Ltd., BRG Sports Inc., and more to be key players of the market- Technavio
NEW YORK, Oct. 2, 2023 /PRNewswire/ — The smart sports equipment market is estimated to grow by USD 19.15 billion from 2022 to 2027, growing at a CAGR of 22.12%. The smart sports equipment market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer smart sports equipment market are Adidas AG, ANTA Sports Products Ltd., BRG Sports Inc., Callaway Golf Co., DribbleUp Inc., EGYM Inc., HYGEAR Inc., InfomotionSports, JingleTek Co. Ltd., Kinexon GmbH, Mizuno Corp, Nike Inc., PUMA SE, Spektacom Technologies Pvt Ltd, Stag International, STATSports Group Ltd., Under Armour Inc., WHOOP Inc., Zepp Health Corp., and Sports Tech Solutions Pte. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying
- Adidas AG: The company offers smart sports equipment such as miCoach smart ball.
- ANTA Sports Products Ltd. – The company offers smart sports equipment such as Wilson X Connected Football.
- BRG Sports Inc. – The company offers smart sports equipment such as smarter football through its brand, Riddell.
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By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. North America will have the largest share of the market.
- North America is estimated to account for 35% of the global market during the forecast period. In the region, the US and Canada are the top buyers of smart sporting equipment. Sports organizations, federations, and clubs promote the use of IoT technology and connected devices like smart basketballs, soccer balls, and golfers. The market is driven by the growing demand for digitized sports devices such as the Wilson X-connected football and various sports analytics platforms from the US sports industry. Such factors are expected to drive the global smart sporting goods market growth in the region during the forecast period.
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- Impactful driver- Increased emphasis on the Internet of Things
- Key Trend – Increased demand for neurostimulation
- Major Challenges – The premium pricing of smart sports equipment
- The market share growth by the offline segment will be significant during the forecast period.
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- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
The sports analytics market size is estimated to grow at a CAGR of 23.25% between 2022 and 2027. The market size is forecast to increase by USD 4,233.42 million. This report extensively covers market segmentation by type (football, cricket, hockey, tennis, and others), solution (player analysis, team performance analysis, health assessment, fan engagement analysis, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Growing demand for mobile applications in sports is the key factor driving the growth of the market.
The sports equipment market size is estimated to grow at a CAGR of 6.43% between 2022 and 2027. The market size is forecast to increase by USD 60.3 billion. This report extensively covers market segmentation by product (ball games, fitness/strength equipment, ball over net games, athletics training equipment, and others), distribution Channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). One of the key factors driving the sports equipment market growth is the rising health and fitness awareness among individuals.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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