Expert Market Research Explores the Top 10 Companies in the Global Sports Technology Market

The global sports technology market reached a value of about USD 20,268.47 million in 2023. The market is further expected to grow at a CAGR of 11.2% in the forecast period of 2024-2032 to reach a value of around USD 52,737.01 million by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rapid technological advancements and growing reliance on technology in the sports sector.

The global sports technology market is experiencing rapid growth, fueled by heightened interest in sports worldwide. A key driver is the emphasis on audience engagement and entertainment, coupled with the digital transformation of arenas and stadiums. Smart stadiums are emerging, offering innovative features like smart seating, facilities management, in-stadium navigation, safety enhancements, and smart ticketing, enhancing the fan experience. Sports organizations are investing in advanced technologies such as cloud services, big data analytics, drones, and wearables to enhance safety, profitability, and fairness in gameplay. This trend reflects a commitment to leveraging technology for a more immersive, interactive, and secure sports experience for players and fans alike.

Further, artificial intelligence (AI) is increasingly utilized in sports for athlete safety and performance monitoring. AI-integrated wearables like watches and heart rate monitors track players' health on and off the field, emphasizing early detection and treatment of physical and mental conditions. Sporting organizations employ advanced technology for player performance tracking and fan engagement. This trend underscores the growing importance of technology in ensuring athlete well-being, optimizing performance, and enhancing fan experiences in the sports industry.

For instance, in September 2022, IBM in collaboration with ESPN enhanced the Fantasy Football experience strategically using IBM Watson’s AI technology. The collaboration uses Trade Analyzer with Watson to analyze vast quantities of structured and unstructured data for ESPN fantasy football.

Top 10 Sports Technology Companies in the World:

International Business Machines Corporation

IBM is a global leader in providing computer hardware and software, as well as cloud computing and data analytics. The company is a publicly listed company on the New York Stock Exchange (NYSE) under the trading symbol IBM. The company has a turnover of USD 61.86 billion  in 2023. The company provides various technologies which are used across a wide range of industries including aerospace and defense, automotive, healthcare, and oil and gas, amongst others.

Fujitsu Limited

Fujitsu is one of the global leaders in technology and business solutions dealing in computing, network, artificial intelligence, data and security, and converging technologies, providing end-to-end technology-related solutions. The company is listed on the Tokyo Stock Exchange under the trading symbol of 6702. The company revenue accounted for JPY 3.71 trillion  (USD 26.37 billion) in 2023. Fujitsu provides various technologies and solutions for sports to enhance the "playing," "watching," and "supporting" of sports, offering digital sports platforms, solutions to support digital sports marketing for expanding the sports fan base, solutions to support major sporting events, etc.

SAP SE

SAP SE, also known as SAP Group, is a global leader in enterprise applications redefining ERP and creating networks of intelligent enterprises that provide transparency, resiliency, and sustainability across supply chains. The company is a publicly listed company on the Frankfurt Stock Exchange under the symbol SAP. The company earned a revenue of EUR 31,207 million  (USD billion) in 2023. The company has a strong workforce of more than 110,000 employees, working across 160 countries. SAP provides comprehensive team management solutions for a range of sports including soccer, ice hockey, basketball, handball, and rugby, with applications like team management, training management, performance analytics, and more.

Oracle Corporation

Oracle is one of the world’s largest database management companies and is the only technology provider with a complete suite of integrated cloud applications and a cloud infrastructure platform. The Oracle Cloud offers all the services required to migrate, build, and run IT, from existing enterprise workloads to new cloud-native applications and data platforms. The company is earned a turnover of USD 35.31 billion in 2023.  The company is a publicly listed company on the New York Stock Exchange (NYSE) under the trading symbol ORCL.

NEC Corporation

NEC Corporation is one of the global leaders in IT solutions. The company provides solutions in public safety, digital governance and digital finance, software services for service providers, and submarine systems for international markets. The company is listed on the Tokyo Stock Exchange under the trading symbol of 670. Utilizing advanced technologies related to AI and IoT, the company earned a revenue of JPY 3.31 trillion  (USD 23.52 million) in 2023.

Fitbit LLC

Fitbit is a privately owned subsidiary of Google LLC and is involved in providing the software and interactive tools that include Fitbit and Fitbit Coach apps, guided health programs, and the Fitbit OS for smartwatches. The company offers smartwatches, trackers, and services in the sport segment which include Fitbit Sense 2, Fitbit Versa 4, Fitbit Versa 2, Fitbit Luxe and Fitbit Charge 5, amongst others.

Apple Inc.

Apple is a global manufacturer of smartphones, PCs, tablets, wearables and accessories, and other variety of related services. The company offers some known brands including iPhone, Mac, and iPad, amongst others. Apple offers digital content through subscription-based services including Apple Arcade®, a game subscription service; Apple Fitness+SM, a personalized fitness service and Apple TV+®, which offers exclusive original content and live sports. Furthermore, the company also offers wearables and accessories including Apple TVApple Watch Ultra™, Apple Watch Series 8, and Apple Watch SE® in the sports segment. The company sales reached USD 383.29 billion as of September 2023 andis listed on NASDAQ under the symbol AAPL.

Garmin Ltd

Garmin is a global leader in designing, developing, and manufacturing hand-held, portable and fixed-mount global positioning system (GPS)-enabled products. The company has a strong team of 19,000 associates in 34 countries around the world. Garmin provides a broad range of products designed for use in health, wellness, fitness activities and outdoor activities under its fitness and outdoor segments including running and multi-sport watches, cycling products, fitness and cycling accessories, connect IQ, adventure watches, golf devices and mobile app, and dog tracking and training devices, amongst others.

Sony Corporation

Sony is a global manufacturer of consumer electronics products and mainly deals across electronics, amongst others. The company is also listed on the New York Stock Exchange under the symbol SONY. Sony provides Hawk-Eye visualization technology which makes sports safer, fairer, more engaging, and better informed and is used across tennis, football, rugby, baseball, to track the posture and movements enabling more precise evaluation of every play.

Cisco Systems, Inc.

Cisco is among one the top leading players in designing, manufacturing, and Internet Protocol-based networking products and services related to the communications and information technology industry. The company is also listed on the Nasdaq Stock Exchange under the symbol NASDAQ: CSCO. Cisco provides a wide range of services that offers threat detection, dynamic visual engagement, data and analytics, collaboration and communication, hybrid cloud, etc. for sports, media, and entertainment.