Sports Technology Market by Technology, Sports and Geography | COVID-19 Impact Analysis | MarketsandMarkets

The global sports technology market was valued at USD 17.9 billion in 2021 and is expected to reach USD 40.2 billion by 2026, at a CAGR of 17.5% between 2021 and 2026. In the recent years, professional sports bodies have adopted new technologies such as sports data analytics, smart stadiums, wearable devices, and digital signage to enhance their team performance, engage fans, and provide smart infrastructures. Smart stadiums are among the key global trends owing to the increase in the number of sports events being held worldwide.

Impact of COVID-19 on sports technology market

As the effects of the COVID-19 continue to ripple through the health, educational, financial, and commercial sectors of the world, the sports ecosystem is no different. The nonstop sports activities worldwide came to a halt owing to the outbreak and the spread of the virus. Euro2020 postponed the completion of domestic leagues. Most national/international sports leagues and competitions were postponed, with the French and Dutch leagues canceled. Every stage of the sports value chain has been affected, right from athletes, teams, and leagues to the media that broadcast and cover games and brands and sponsors that use these events for advertising. Eventually, the sports industry resumed its activities in late 2020 with some alterations, including the non-participation of fans in sports arenas. With the COVID-19 still prevailing across the world, athletes played in empty arenas, and technologies were used for offering an enhanced viewing experience to fans. Different leagues and sports used different methods to enhance the engagement of fans. An increase in live updates, social media updates, additional camera angles, and use of VR headsets led to enhanced viewing experience and engagement for fans.

“The market for sports analytics is expected to grow at the highest CAGR from 2021 to 2026.”

Sports analytics play an important role in the functioning of sports organizations. In the recent past, sports analysis was carried out by coaches and experts during practice/training sessions and live matches and tournaments. Advancements in sports technologies have enabled sports organizations to take improved decisions related to their teams and business operations. It is one of the primary drivers for the evaluation of the sports sector. The increasing adoption of social media platforms by fans for blogging and posting reviews is also expected to drive the demand for sports analytics across the world.

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“American Football/ Rugby market expected to grow at the highest CAGR during the forecast period.”

The use of IoT-enabled devices in rugby games allows coaches and players to make decisions based on real-time game insights, design training sessions tailored to cater to the individual requirements of players, and enable them to implement intelligent strategies against each opponent. Moreover, Sansible Wearables offers LiveSkin for rugby players. These are intelligent sensors, which are fitted to the shoulder pads of players to collect collision metrics during both training sessions and games. They offer an improved understanding of the way players tackle their opponents and their effect on the performance and health of players

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