The global wearable sports technology market size is expected to reach USD 40.22 Billion by 2028 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. Steady growth of the market can be attributed to increasing adoption of new technologies in the sports industry such as big data analytics, Artificial Intelligence (AI), cloud services, wearables, and drones. The report provides detailed insights into wearable sports technology market size, market trends, industry trends, consumer trends, market forecast, revenue share growth, along with ranging impacts of each driver on market size. It also provides analysis of various factors expected to restrain or limit potential growth in wearable sports technology market size over the forecast period, 2020–2028. The report includes profiles of major players in the wearable sports technology market, strategies being employed/deployed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials.
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In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of wearable sports technology market share contribution of these countries. In addition, wearable sports technology market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries. Greater accuracy of the VAR system is driving its adoption in the sports industry. Rising need for fairer gameplay, safer, and potentially more profitable events are some other key factors driving adoption of sports technology solutions currently. Global wearable sports technology market size expansion is significantly supported by contribution from major segments and increasing deployment in a range of applications. While conducting primary research, the researchers observed that the rapid growth of the wearable sports technology market through the forecast duration is driven by the niche and emerging opportunities for the producers engaged in the worldwide wearable sports technology market. The worldwide wearable sports technology market has been categorized as product, end-user, and major geographic regions.
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Emergen Research has segmented the global wearable sports technology market on the basis of sports, technology, and region:
- Sports Outlook (Revenue, USD Billion; 2021–2028)
- Technology Outlook (Revenue, USD Billion; 2021–2028)
- Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
Region wise performance of the Sports Technology industry
In terms of wearable sports technology market size, North America is expected to remain dominant among the other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting wearable sports technology market size growth.
Asia Pacific wearable sports technology market size is expected to remain steady, and register fastest revenue growth rate between 2020 and 2028. Rapid revenue growth rate in countries such as China and India is attributable to rapid growth in wearable sports technology market size in Asia Pacific, and the trend is expected to continue going ahead.
Continuous developments in countries in Europe is expected to support growth in regional market size over the forecast period.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
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Some Key Highlights in the Report
- In June 2019, IBM & FOX Sports teamed up to transform the production of the 2019 FIFA Women’s World Cup France event. This helped to transform the production of the event by infusing Artificial Intelligence analysis and live streaming during the game.
- The soccer segment accounted for largest revenue share 2020, driven by rising adoption of advanced technologies such as AI, big data analytics, cloud services, drones, and wearables.
- Devices segment revenue is expected to expand at a rapid CAGR during the forecast period. Benefits offered by wearable devices include workout injury prevention, player safety assessment tool, and metrics of physical conditioning and performance, which is boosting demand for wearables.
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Sports Technology industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the wearable sports technology market across different regions?
- Who are the major driving forces expected to decide the fate of the Sports Technology industry worldwide?
- Who are the prominent market players making a mark in the wearable sports technology market with their winning strategies?
- Which Sports Technology industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the wearable sports technology market?
Table of Content
Chapter 1. Methodology & Sources
1.1. wearable sports technology market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. wearable sports technology market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. wearable sports technology market Segmentation & Impact Analysis
4.1. wearable sports technology market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. wearable sports technology market indicators analysis
4.2.2. wearable sports technology market drivers analysis
220.127.116.11. Rapid urbanization and industrialization
18.104.22.168. Stringent government regulations regarding carbon emissions
22.214.171.124. Increasing prevalence of respiratory diseases
126.96.36.199. Rising need to enhance indoor air quality
4.2.3. wearable sports technology market restraints analysis
188.8.131.52. High cost associated with the maintenance of Sports Technology products
184.108.40.206. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. wearable sports technology market Revenue Share By Manufacturers
10.2. Mergers & Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East & Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East & Africa
10.5.2.5. Latin America
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