According to MarketsandMarkets, the market for sports technology will grow from USD 21.9 billion in 2022 to USD 41.8 billion by 2027. It is projected to grow at a CAGR 13.8% between 2022 and 2027.
The growing popularity of esports technology and the increased focus on engaging and delighting fans in stadiums are some of the reasons for the growth of sports technology.
As previously explored…
There are billions in funding heading toward the sports tech market.
With endowments, VCs, athletes, and major PE groups are ready to pounce on the influx of new opportunities.
The sports technology market for athletes is forecast to grow at the highest rate of CAGR over the forecast period.
As teams become more concerned about their athletes’ performance and health, advancement in sports technology is on the rise. Wearable devices and sensors are used to improve training, game-day decision-making, and recovery.
North America’s sports technology market is expected to be the largest during the forecast period.
Many leagues and teams call the USA home, which means that there is a greater demand for stadiums with advanced technology.
Other major areas:
- web3
- AR/VR
- esports
- wearables
- fan engagement
The market for sports is growing at a rapid rate.
