Sport
Smart Sports Equipment Market to Reach $12.0 Bn, Globally, by 2026 at 7.9% CAGR: Allied Market Research
Improvement in performance, rise in safety of sports personnel, and advent of IoT in various industries facilitate the growth in the global smart sports equipment market. However, high price and low penetration hinder the market growth. On the other hand, availability of online distribution channels and high penetration of internet present new opportunities in the industry.
Based on product type, the smart golf stick segment contributed the highest market share in the global smart sports equipment market in 2018, holding nearly one-fourth of the total share, and is estimated to continue its dominant position throughout the forecast period. This is due to adoption of premier motion sensor technology and offering of measurable analytics that can be shared through smartphones to the users. On the other hand, the smart hockey stick segment would register the largest rate in terms of growth with a CAGR of 8.6% from 2019 to 2026, owing to insights provided by these sticks to track, monitor, and enhance performance of athletes.
Based on distribution channel, the franchise stores segment held nearly two-fifths of the total market share of the global smart sports equipment market in 2018 and will maintain its highest share by 2026. This is due to huge geographical presence for manufacturers through which expansion of customer reach and ease in accessibility of products for customers are possible. However, the specialty stores segment is estimated to register the highest growth rate with a CAGR of 8.3% from 2019 to 2026, owing to increase in shelf space for smart sports goods and availability of private label brands as well as international brands.
Based on region, North America accounted for the major market share, contributing for nearly one-third of the total share of the global smart sports equipment market in 2018, and will maintain its lead position during the forecast period. This is attributed to rise in participation of people in physical activities and need to improve performance of athletes. On the other hand, LAMEA would grow at the highest CAGR of 8.6% from 2019 to 2026, owing to popularity of sports in countries such as Brazil and rise in participation in sports including football, tennis, volleyball, motorsports, basketball, golf, and others.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA / Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong : +852-301-84916
India ( Pune ): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg