Published Date: 23-Sep-2022
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According to a new report, published by KBV research, The Global Sports Technology Market size is expected to reach $48.7 billion by 2028, rising at a market growth of 16.8% CAGR during the forecast period.
The Sports Analytics segment is showcasing CAGR of 17.4% during (2022 - 2028). The operation of sports organizations is significantly impacted by sports analytics. In the recent past, coaches and specialists conducted sports analysis during practice/training sessions, live events, and competitions. Sports companies may now make better decisions about their teams and commercial operations because of advancements in sports technology.
The Soccer segment is leading the Global Sports Technology Market by Sports Type in 2021 thereby, achieving a market value of $15.3 billion by 2028. Soccer has embraced sports innovations more than tennis, golf, or any other sport. FIFA is working to create universal wearable standards that will be used by all soccer teams. All professional teams are supposed to train their players using the same data-tracking technology.
The North America market dominated the Global Sports Technology Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $16.9 billion by 2028.The Europe market is exhibiting a CAGR of 16.4% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 17.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Fujitsu Limited, LG Electronics, Inc. (LG Corporation), Sharp Corporation, Oracle Corporation, IBM Corporation, Cisco Systems, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Ericsson AB , NEC Corporation, and SAP SE.
By Sports Type
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