Sports Technology Market is predicted to reach USD 60,515.3 million at a CAGR of 21.75% during the forecast period

Market Research Future (MRFR) has published on the “Global Sports Technology Market”.

The Snowmobile Parts & Accessories Market is estimated to register a CAGR of 21.75% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Sports Technology market - Noraxon, Modern Times Group, Hudl, Catapult, Sport radar, Synergy Sports, Precision Sports Technology, Stats Perform, SAP SE, HCL Technologies Limited, Cisco Systems, Inc., Panasonic Corporation, Sony Corporation, and Telefonaktiebolaget LM Ericsson (Ericsson).

Market Highlights

The Global Sports Technology Market is accounted for to register a CAGR of 21.75% during the forecast period and is estimated to reach USD 60,515.3 million by 2032.

Sport is a key platform for achieving development outcomes. Sport can contribute significantly to societal integration and economic growth in various geographical, cultural, and political instances. Sport can contribute significantly as a proponent of societal integration and economic growth in a variety of geographical, cultural, and political instances. Sports can further promote capital accumulation, facilitate the functioning of markets, and reinforce institutions through their impact on social capital, trust, culture, and crime. Those certain results are mutually reinforcing. Furthermore, playing a sport helps the player live longer and healthier and leads to lower obesity rates. Healthy people appear to have lower rates of diabetes and higher blood pressure. Practicing regularly through sports programs may lead to improved heart and lung function. For children, playing sports may help build friendships based on positive, fun and enjoyable activities. Adults who participate in sports will have the ability to build friendships based on an active lifestyle.

Moreover, sports have become a vital instrument in the portfolio of development organizations worldwide, with several political and sporting figures promoting their benefits. Sports offer a number of benefits and greatly improves people's lives. With daily sports activities, it is easy to stay fit, improve physical stamina, and improve brain function. The increasing popularity of various sports increases the demand for platforms to bet on the outcomes of the games. Thus, the growing popularity of sports is expected to drive the growth of the global Sport Technology market during the forecast period.

The introduction of newer sports leagues and events presents a significant opportunity for the sports technology market to expand and innovate. As technology continues to evolve and new sports emerge, the sports technology industry is well positioned to play a critical role in shaping the future of sports. As new sports leagues and events emerge, there is a growing demand for innovative and advanced sports technology solutions that can help improve the performance of athletes, teams, and sports organizations. This includes technologies such as wearable devices, analytics tools, and virtual reality training systems. Apart from e-sports, Mixed Martial Arts (MMA), which includes popular organizations such as the Ultimate Fighting Championship (UFC), has also experienced significant growth in recent years. Moreover, drone racing has emerged as a new and exciting sport in recent years. According to FIBA, the international basketball federation, 3x3 basketball has experienced a 25% annual growth rate since 2014. The growth of 3x3 basketball has led to the creation of new leagues and events, such as the 3x3 World Tour and the FIBA 3x3 World Cup. Such emergence of new sports and growing popularity will create further opportunities for innovation and growth in the sports industry.

Segment Analysis

The Global Sports Technology Market has been segmented based on Technology and Sports Type.

Based on Technology Type, the global Sports Technology Market segmentation includes Indicator- Devices, Smart Stadium, Analytic & Statistics, E-sports. The Devices segment is expected to grow at 16.2% CAGR during the forecast period. The devices segment in technology of Global Sports Technology Market is the largest and fastest growing segment. It includes the wearable devices, sports cameras, drones, virtual reality (VR) headsets, and other technologies that are used by athletes and sports enthusiasts to track their performance, monitor their health, and enhance their training and gameplay experience. It is mainly driven by the increasing adoption of wearable devices, such as smartwatches, fitness trackers, by athletes and sports enthusiasts.

Based on Sports Type, the global Sports Technology market has been segmented into Soccer, Basketball, Cricket, Tennis, Ice Hockey, Rugby, and Baseball. The Basketball segment is expected to grow at 14.9% CAGR during the forecast period. In 2022, the Basketball segment held a 20.7% share of the global Sports Technology market. Basketball, characterized by its fast-paced action and complex strategies, has embraced technology to gain a competitive edge. Data analytics and real-time performance tracking are revolutionizing the game, providing coaches and players with actionable insights to optimize strategies and enhance performance. Basketball’s fast-paced nature and reliance on data-driven decision-making drive the adoption of technology in this sport, with a focus on real-time analysis and performance optimization.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Sports Technology Market Research Report

Regional Analysis

North America is held largest share of 32.9% of Sports Technology Market in 2022. The market is driven by the increasing desire among athletes and sports teams to use technology to improve performance and gain a competitive edge. Companies operating in this market include SportVU, Omron, Fitbit, and Mycah.

Asia-Pacific is   witnessing the highest growth of 16.2% in 2022, driven largely by the increasing integration of technology in sports and fitness activities. Key industry players like Nike, Adidas, and Under Armour, alongside emerging startups and SMEs, are contributing to the market's dynamism by leveraging innovation and capitalizing on growth opportunities. This confluence of factors positions the Asia Pacific sports technology market as an arena ripe with potential for further expansion and advancement.

Europe is the second largest market in the Sports Technology market during the forecast period. Key players in the Europe market include companies specializing in tracking and monitoring, sports analytics, and technology solutions for stadiums and training facilities. The market is expected to continue growing in the coming years, driven by new developments, and increasing adoption among sports organizations and fans.

In the MEA region, significant investments in smart city infrastructure and a growing youth population are driving market growth. Noteworthy developments in smart stadiums and digital transformation strategies by sports authorities are propelling the market forward.

South America's sports technology market is seeing an uptick due to a surge in smartphone penetration and internet accessibility. Key global players like Nike, Adidas, and Under Armour, along with local startups, are harnessing these opportunities for expansion and innovation, thus adding to the market dynamism. The amalgamation of these factors signifies promising potential for future growth and development in the sports technology market across both regions.

Key Findings of the Study

• The Global Sports Technology Market is expected to reach USD 60,515.3 million by 2032, at a CAGR of 21.75% during the forecast period.


• The North America region accounted for the largest share in the global market, imperative factors, such as the significant number of investments and key market players in North America, making it the primary contributor to the market share.


• Based on Sports Type, the Soccer segment held the majority share in 2022, contributing around ~26.5% to the market revenue.


• Catapult Sports, Sony Corporation, SAP SE, HCL Technologies Limited, Panasonic Corporation. are key market players.