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Smarts Sports Equipment Global Market Report 2022

Smarts Sports Equipment Global Market Report 2022

  • June 2022
  • 175 pages
  • ID: 6290019
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the smart sports equipment market are NIKE Inc., Golfsmith International Holdings Inc, PUMA SE, Adidas AG, Wilson Sporting Goods, BABOLAT VS S.A., HockeyShot Inc., Riddell, Zepp Labs Inc., Gridiron Technologies, MIZUNO Corporation, Amer Sports, Under Armour Inc., InfoMotion Sports Technologies, DribbleUp Inc., BRG Sports, EGYM Inc., Kinexon GmbH, Spektacom Technologies Pvt Ltd, STATSports Group Ltd., Callaway Golf Company, QUATTRIUUM INC., and Game Golf.

The global smart sports equipment market is expected to grow from $3.46 billion in 2021 to $3.74 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The smart sports equipment market is expected to grow to $5.17 billion in 2026 at a CAGR of 8.4%.

The smart sports equipment market consists of sales of smart sports equipment products by entities (organizations, sole traders, and partnerships) that are used to analyze player’s performance on the field. Smart sports equipment goes beyond simple metric tracking, such as calories burnt or steps done, to provide with more precise information about form and performance.

The main types of products in the smart sports equipment market are smart balls, smart golf sticks, smart hockey sticks, smart rackets and bats, and other products.Smart balls are a type of intelligent balls with an implanted electronic chip.

They are created by integrating smart technology like IoT, and data analytics into sports equipment.Smart sports equipment has connectivity features such as smartphone synchronization, wireless synching, and real-time data syncing.

These products are distributed through franchise stores, specialty stores, and other stores. Smart sports equipment is used by end-users such as men and women.

North America was the largest region in the smart sports equipment market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the smart sports equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The smart sports equipment market research report is one of a series of new reports that provides smart sports equipment market statistics, including smart sports equipment industry global market size, regional shares, competitors with a smart sports equipment market share, detailed smart sports equipment market segments, market trends and opportunities, and any further data you may need to thrive in the smart sports equipment industry. This smart sports equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing demand for data-driven analysis of sporting activities is expected to propel the growth of the smart sports equipment market.In sports, data-driven analytics are used in modern coaching as sensors are integrated into the sports equipment to develop winning strategies and analyze the performance of the player on the field or in a team as a whole.

Coaches of professional teams can use data science to construct hyper-personalized athlete matches and other plans for every game they play and also can identify and analyze the mistakes made by the players by observing the data collected by their sports equipment.With these new modern sports accessories, players can overcome their challenges with every training session or every game by studying the data and being effective.

According to Forbes, an American business magazine, sports analytics is predicted to generate over $4 billion in revenue by 2022, since it aids several sports organizations and players in a variety of ways. Therefore, increasing demand for data-driven analysis of sporting activities drives the growth of smart sports equipment.

As the smart sports equipment market expands, new developing trends are emerging in the sector to keep up with the technological advancements surrounding the market.One such new development is The StanceBeam Striker developed by an Indian technology firm StancceBeam in November 2019.

The StanceBeam Striker is a sensor that attaches to the top of any cricket bat and functions as the brain of the smart bat.The 3D sensor is compatible with both iOS and Android versions of the Stance Beam APP ecosystem.

The device’s smart motion sensors provide a proven collection of data, including 3D swing analysis, bat speed produced power index and shot efficiency.

In August 2021, Authentic Brands Group (ABG) an American brand management company acquired Reebok from Adidas for up to $2.5 billion. The deal enables ABG to bring an iconic sports brand like Reebok under its ever-growing sports products portfolio, which helps in enhancing its athletics equipment and merchandise division. Reebok’s headquarters will remain in Boston, and the company’s operations in North and Latin America, Asia-Pacific, Europe, and Russia will continue. Reebok is a US-based manufacturer of sporting goods that also manufactures smart sports equipment such as smartwatches.

The countries covered in the smarts sports equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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