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Increasing number of smart sports stadiums and rising adoption of new and more advanced technologies in the sports industry.

VANCOUVER, BC, CANADA, March 16, 2022 /EINPresswire.com/ -- The Global Sports Technology Market report offers a comprehensive analysis of the Sports Technology market with regards to the current and emerging trends, regional outlook, competitive landscape, and forecast estimation for revenue and market share. The report is an all-inclusive document providing important details focusing on growth statistics, estimation of revenue shares and growth, market valuation, and also emphasizes the competitive landscape, business opportunities, and strategic alliances and approaches undertaken by the dominant industry players.

The global sports technology market size is expected to reach USD 40.22 Billion by 2028 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. Steady growth of the market can be attributed to increasing adoption of new technologies in the sports industry such as big data analytics, Artificial Intelligence (AI), cloud services, wearables, and drones. Utilization of Video Assistant Referee (VAR) in the 2018 FIFA World Cup in Russia was the start of the trend which is another key factor driving the deployment of sports technology in the global sports industry. The VAR system operated out of a video control room and could communicate with the referee on the soccer field to review a play.

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Greater accuracy of the VAR system is driving its adoption in the sports industry. Rising need for fairer gameplay, safer, and potentially more profitable events are some other key factors driving adoption of sports technology solutions currently. Rising interest in franchises to capitalize on mobile technology to improve viewer experience among fans in their homes and for spectators in stands at stadiums is another key factor driving adoption of smart technologies in the sports industry.

The report aims to provide a determining analysis of the market competition to help the user make a pivotal business analysis. The complete portfolios of the key companies, including their production capacity, revenue share and size, gross margin, sales revenue and margin, growth rate, along with their business strategies and technological developments, have been discussed in the report. The companies operating in the market and profiled in the report include IBM, Ericsson, Cisco, Fujitsu, SAP SE, Oracle, NEC Corp., LG, Sharp Corporation, and Samsung

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Emergen Research has segmented the global sports technology market on the basis of sports, technology, and region:

Sports Outlook (Revenue, USD Billion; 2021–2028)

Baseball

Soccer

Basketball

Cricket

Tennis

American Football/Rugby

Others

Technology Outlook (Revenue, USD Billion; 2021–2028)

Esports

Device

Smart Stadium

Sports Analytics

Key Findings from the Report Suggest:

In June 2019, IBM & FOX Sports teamed up to transform the production of the 2019 FIFA Women’s World Cup France event. This helped to transform the production of the event by infusing Artificial Intelligence analysis and live streaming during the game.

The soccer segment accounted for largest revenue share 2020, driven by rising adoption of advanced technologies such as AI, big data analytics, cloud services, drones, and wearables.

Devices segment revenue is expected to expand at a rapid CAGR during the forecast period. Benefits offered by wearable devices include workout injury prevention, player safety assessment tool, and metrics of physical conditioning and performance, which is boosting demand for wearables.

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Key insights presented in the report:

Market revenue shares by major business players, by type, by application, and market scope of global Sports Technology market

Sales revenue by key players and new entrants

Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers

Recent mergers, acquisitions, product launches, recent investments, and joint ventures

Regional analysis to provide insight into recent trends and opportunities

The research study on the global Sports Technology market provides a complete detail-oriented assessment of this market and provides an accurate evaluation of market tendencies such as revenue estimations and shares, current market value, future market valuation, and market size over the forecast years. The report focuses on the evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and Middle East & Africa

To view the detailed ToC of the global Sports Technology market report, visit @ https://www.emergenresearch.com/industry-report/sports-technology-market

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