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).

 

In the secondary research, various sources were referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, sports technology –related journals, and certified publications; articles by recognized authors; gold and silver standard websites; directories; and databases.

Soccer is expected to be the largest adopter of sports technology during forecast period

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. 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.

Sports technology market in North America to grow at highest CAGR during forecast period

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.

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