Global Sports Technology Market Report and Forecast 2024-2032

Global Sports Technology Market Outlook

The global sports technology market size was around USD 20,268.47 million in 2023. The market is further estimated to grow at a CAGR of 11.2% in the forecast period of 2024-2032 to reach USD 52,737.01 million by 2032.

Key Takeaways

• The increasing rollout of 5G networks is anticipated to enhance stadium experience, provide enhanced performance analytics to athletes, and deliver more immersive fan experiences.

• Athletes and sports enthusiasts are deploying wearable and performance-enhancement tools to analyse and boost their performances.

• Esports, which is now officially recognised in Germany, the USA, India, and China, among other countries, is enhancing the use of technologies, such as AI and machine learning to boost player performance.

Sports organisations, leagues, and clubs have been deploying generative AI to optimise and analyse strategies, predict outcomes, and design training regimens for athletes.

The global sports technology market is rapidly growing, driven by an increased interest in sports by participants and viewers worldwide. A strong focus on audience participation and entertainment activities as well as the digital transformation of arenas and stadiums are expected to boost the deployment of advanced technologies in the sports sector.

Various sporting organisations, leagues, and clubs are also implementing advanced technological solutions for tracking players' performance and increasing their interaction with fans, which contributes to the sports technology market development.

The rising popularity of esports is stimulated by growing access to smartphones and the availability of free-to-play competitive games. A combination of computer vision and AI provides bookmakers with detailed information about the gamers’ decisions, allowing them to create more accurate odds. Esport teams also use machine learning to construct better practice strategies.

Figure: Top E-sport Audience by Age Group

Key Trends and Developments

Growing use of wearable technologies; rising demand for smart stadiums; increasing adoption of AI, machine learning, and AR/VR technologies; and rising number of sports events are the major factors impacting the sports technology market growth

Feb 15, 2023

FC ST. Pauli announced Catapult as the official performance analysis and athlete monitoring software partner. The objective of the partnership between FC St. Pauli and Catapult Sports is to provide official performance analysis and athlete tracking tools that will enable FC St. Pauli to contextualise the physical outputs of every aspect of play and improve optimised training sessions.

Sep 12, 2022

Patriot One Technologies Inc. announced a partnership with the SAP Center at San Jose, which allowed the latter to use the company's SmartGateway patron screening system and Platform powered by artificial intelligence (AI) to safeguard all entrances to roughly 18,000-seat venue for all non-NHL events.

Sep 12, 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.

Feb 9, 2022

Oracle and Red Bull Racing joined hands for advanced innovation for Formula One by introducing a new car and a team named, Oracle Red Bull Racing, which will use Oracle Cloud infrastructure to improve race strategy, and engine development, amongst others.

Increasing adoption of wearable devices

In order to enhance their health, fitness and performance levels, athletes are utilising solutions such as wearable fitness devices, which aids the sports technology market growth. In-built GPS and sensors on the equipment capture the athlete’s data, converting it into actionable insights to boost their performance.

A rise in international sporting events

As countries become inclined towards hosting international sporting events to secure foreign capital, the demand for digital sports services to enhance the playing and watching aspects of sports is improving. Manufacturers are providing training systems to boost the skills of individual athletes and enhance team tactics. Organisations are investing in platforms to provide sophisticated live view and real-time updates to spectators.

Technological advancements

An increasing rollout of the 5G technology ensures a high connection speed for gamers, stimulating the growth of the esports market. The utilisation of artificial intelligence and machine learning is further helping players improve their gaming tactics, while virtual reality is aiding the development of interactive games, thereby supporting the sports technology market expansion.

Smart technologies revolutionising viewer's experiences

The rising focus on improving spectator experience is leading to the development of smart stadiums that incorporate smart navigation, ultrasonic internet speed, and multiple game viewpoints.

Global Sports Technology Market Trends

Athletes are increasingly investing in fitness applications, wearable devices, and services that help them improve their health and endurance levels to maximise their performance. The development of devices that can be synced with computers and mobile devices compatible with various operating systems, such as iOS, Android, and Windows, has increased user convenience.

IoT sensors and devices measure the heart rate, running speed, and muscle activity of players to determine their performance. Big data along with in-memory technology analytics enables coaches to make intelligent decisions during the game and allows fans to have more enjoyable experiences.

Sports organisations depend on data analytics to enhance player development and in-game strategy. The adoption of the cloud for storing this data has enabled them to seamlessly access it and gather actionable real-time insights to boost player performance. The cloud also provides organisations with reliable backup solutions such as immutability, ensuring long-term preservation and protection of the data.

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Market Segmentation

“Global Sports Technology Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Sport Type

• Outdoor Sports

• Indoor Sports

Market Breakup by Technology

• Internet of Things (IoT)

• Artificial Intelligence/Machine Learning (AI/ML)

• Augmented Reality/Virtual Reality (AR/VR)

Market Breakup by Sports

• Soccer

• E-Sports

• Basketball

• Cricket

• Baseball

• Tennis

• American Football/Rugby

• Golf

• Hockey

• Others

Market Breakup by Component

• Software
  • On-Premise
  • Cloud
• Services

• Wearable Devices and Sports Equipment

Market Breakup by Application

• Analytics and Statistics

• Decision Making and Team Analysis and Management 

• Game Performance Analysis and Injury and Health Analysis

• Training

• Tactics and Simulation

• Tracking

Market Breakup by End Use

• Clubs

• Sports Associations

• Leagues

• Coaches

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Based on technology, the Internet of Things (IoT) dominate the sports technology market share

Sports organisations are deploying IoT technology to capture real-time data and analytics to support players and teams to improve their performance, fitness, health, and training strategies.

With organisations placing stadiums at the epicentre of fan experience, the use of IoT technology to improve digital engagement, venue efficiency, and in-arena experience is growing.

Meanwhile, AI, along with data analytics, is applied across a range of areas, including athlete management and payments, talent identification and selection, sports organisational management, fan experience, and sports betting.

AI in sports, including tennis, soccer, cricket, baseball, and basketball, helps teams analyse the weaknesses of competitors and adjust pre-training sessions accordingly.

Based on end use, clubs are a significant contributor to the sports technology market revenue

Blockchain technology has helped sports clubs, such as Manchester City, Barcelona, and PSG, to improve fan engagement, boost revenue, and combat fraud.

Sporting leagues have been utilising innovative technologies to collect unprecedented data, including player speed and shot velocity, to improve the performance of players. Moreover, there has been a growing deployment of innovative technologies by sports associations to make error-free judgments.

Sports associations and coaches are leveraging technologies, such as machine learning, AI, and data science, to predict outcomes in real time, suggest alternatives, and enhance gaming strategies. Additionally, machine learning helps organisations understand the spectator’s behaviour to improve their engagement.

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Competitive Landscape

Manufacturers are engaging in continuous research and development to create improved technological solutions offering enhanced functionality and reliability to enhance the experience of end users

International Business Machines Corporation

IBM, headquartered in the US, provides various technologies which are used across a wide range of industries including aerospace and defence, automotive, entertainment, and oil and gas, among others.

Fujitsu Limited

Headquartered in Japan, 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.

SAP SE

SAP SE, founded in 1972, is a global leader in enterprise applications redefining ERP and creating networks of intelligent enterprises that provide transparency, resiliency, and sustainability across supply chains.

Oracle Corporation

Oracle, headquartered in the US, 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.

Other notable players operating in the global sports technology market are NEC Corporation, Fitbit LLC, Apple Inc., Garmin Ltd., Sony Corporation, Cisco Systems, Inc., Samsung Electronics Co., Ltd., Huawei Technologies Co., Ltd., Panasonic Corporation, Catapult Group International Ltd, Zebra Technologies Corporation, Stats Perform, Infosys Limited, MicroTeam, Pixellot Ltd., and Miro AI, among others.

Players are upgrading their product portfolios and incorporating the latest capabilities to innovate their offerings and meet the evolving demands of consumers.

Sports Technology Market Analysis by Region

Within the European region, Germany has emerged as a diverse and mature esports market. The development of distinct esports sub-ecosystems through titles such as Counterstrike: Global Offensive, League of Legends, and FIFA are increasing the popularity of esports and demand for technology such as AI and AR/VR.

Within North America, sports organisations, such as Canadian Sport Institute Calgary, are utilising artificial intelligence to gain insights from data to maintain an athlete's health and optimise their performance. Further, sports academies and associations are adopting cloud-based software platforms to boost their activities.

Latin America witnessed a boom in the sports tech startups, particularly in the fitness sector. Sports, particularly soccer, are a major part of the lives of Latin Americans, and the developments in the streaming and data analysis of sporting events have boosted the growth of the sports technology market.

Key Highlights of the Report

Sports Technology Market Report Snapshots

Sports Technology Market Size

Sports Technology Market Trends

Sports Technology Companies

Sports Technology Market Regional Analysis