Sport
Sports Technology Market worth $40.2 billion by 2026 - Exclusive Report by MarketsandMarkets™
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A smart stadium is a venue that uses the latest information and communications technology to enhance visitor experience. The adoption of digital technologies and increased commercialization of stadiums are expected to drive the demand for smart stadiums. This benefits pro leagues and world tournaments as well. Due to COVID-19, the number of spectators admitted to sporting events is very limited. However, this led to strong financial losses for clubs, sports facility operators, ticket sellers, etc. Therefore, there was an increasing demand for smart solutions to bring fans and revenue back while also ensuring safety.
The adoption of sports technologies has been higher in soccer than in tennis, golf, and other sports. FIFA is making efforts to establish global wearable standards for use by all soccer teams. The idea is to have all professional teams using the same data-tracking technologies for training their players. Eventually, some of these technologies are expected to be used in live matches to help players and coaches track the performance of teams and individual players. They are also anticipated to open a host of possibilities for broadcasting sports events and allowing fans to view in-depth statistics of players.
Sports Technology Market
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North America is the most advanced region in terms of technology adoption and the largest sports technology market in the world. Several stadium operators, sports teams, players, and event organizers in
North America are adopting the latest sports technologies to transform their operations digitally. The growing need for network management and high data consumption during matches and events are forcing event operators to adopt solutions that can efficiently reduce data consumption without hampering spectator experience.
IBM (US), Ericsson ( Sweden ), Cisco (US), Fujitsu ( Japan ), SAP ( Germany ), Oracle (US), Catapult Sports ( Australia ), NEC ( Japan ), LG ( South Korea ), Sharp ( Japan ), Samsung ( South Korea ), Fitbit (US), Apple (US), Garmin (US), Sony ( Japan ), Panasonic ( Japan ), Modern Times Group ( Sweden ), Activision Blizzard (US), Tencent ( China ), and CJ Corporation ( South Korea ).
Esports Market by Revenue Streams (Media Rights (Subscription & Online Advertisement), Tickets and Merchandise, Sponsorship & Direct Advertisement, and Publisher Fees), and Geography ( North America , Europe , APAC, and RoW) - Global Forecast to 2023
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