Sports Technology Market Size, Share & Trends Analysis Report By Type (Devices, Smart Venues, Analytics & Statistics, Esports), By Sport, By End-user (Sports Clubs, Sports Associations, Sports Leagues), By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the sports technology market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for sports technology market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of sports technology market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Sports Technology Market Categorization:

The sports technology market was categorized into four segments, namely type (Devices, Smart Stadium, Analytics & Statistics, Esports), sports (American Football/Rugby, Baseball, Basketball, Cricket, Golf, Ice Hockey, Tennis, Soccer), end-user (Sports Clubs, Sports Associations, Sports Leagues), and regions (North America, Europe, Asia Pacific, South America, Middle East & Africa).

Segment Market Methodology:

The sports technology market was segmented into type, sports, end-user, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The sports technology market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-one countries, namely, the U.S.; Canada; Mexico; UK; Germany; France; Italy; Spain; Rest of Europe; China; India; Japan; South Korea; Rest of Asia Pacific; Brazil; Argentina; Rest of South America; UAE; Saudi Arabia; South Africa; Rest of Middle East & Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Sports technology market companies & financials:

The sports technology market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Apple Inc., is one of the most successful companies in the world when it comes to the technology industry. Established in 1976, in California, U.S., the company has revolutionized the technology industry from the core. The company primarily operates in computer hardware, computer software, consumer electronics, equipment manufacturing, wireless telecommunication, and more. As of 2022, the company had a huge employee strength of 164,000 people to back its technology innovation and plans. It is a publicly held company. Some of the popular products of the company include Sport Band, Apple Watch Series 6, and Apple Fitness+ as well. The company is considered as one of the market leaders as it holds a significant market share in sports technology across the globe.

• Catapult Group, a well-known technology company and provider of sports technology services for popular sports clubs such as Bayern Munich FC, Paris Saint Germain FC, Wales Rugby, and NFL's Steelers, was established in Australia in 2006. It’s a privately held company that offers Wearable Technology, Video Analysis, Athlete Management Solutions, Content Licensing, and more. Owing to its extensive product portfolio and strategic excellence, the company has gained significant market share in sports technology all around the world. The company launched Vector T7, an athlete monitoring solution. The device is more accurate, 73% smaller, and offers comprehensive data about players in indoor environments.

• ChyronHego Corporation established in 1966, in New York, United States is one of the niche players in the sports technology industry. The company offers player tracking systems under the sports tracking product category, including TRACAB, ZXY Arena, and ZXY Go. TRACAB is an optical-based player tracking system that can track players with the help of a camera. TRACAB is installed in over 300 stadiums covering major sports events such as the English Premier League, Spanish La Liga, and German Bundesliga. It is a privately held company providing advanced technology-driven solutions to the sports industry. It has developed a strong geological presence and robust product portfolio to back its growth trends.

• Cisco Systems, Inc., is one of the market leaders in the sports technology industry. The company is a technology giant on many fronts and is considered one of the top key players in the regional market of North America. It also holds a substantial global market share in terms of the sports technology market. Cisco Systems, Inc. is an American multinational technology conglomerate that develops and manufactures software, networking hardware, telecommunications equipment, and other technology products and services. It is a publicly held company. Cisco Connected Stadium Wi-Fi, Cisco Vision Dynamic Signage Director, and Cisco Vision Digital Media Player are some of its products.

• HCL Technologies Limited, a key player in not sports technology market but the entire technology industry, provides solutions that blend CRM functionality with business intelligence solutions. It is a publicly held company and is considered one of the visionaries of the sports technology market. In October 2022, HCL Technologies Limited announced the expansion of its long-standing partnership with Google Cloud to deliver new capabilities and service offerings to accelerate enterprise migration to the latter. It’s considered as a key company in the Asia Pacific region.

• International Business Machines (IBM) Corporation is a publicly held company that has been operating in the technology industry for more than a century now. BM Cloud, IBM Watson, and IBM Security are some of its offerings related to the sports technology market. It is considered as one of the market leaders in terms of sports technology business. IBM holds a significant share of the sports technology market across the globe. The company has attained a higher level on various fronts such as revenue, geological presence, product portfolio, and strategic initiatives as well.

• Infosys Limited, a publicly held company, was established in the year of 1981. The company now has a strong experience of more than four decades to empower its customers through highly technology-driven offerings. The company operates in different business segments, including Financial Service and Insurance, Retail, Consumer Packaged Goods and Logistics, Communication, Telecom OEM and Media, Energy, Utilities, Resources and Services, Manufacturing, Hi-Tech, Life Science, and Healthcare. It is headquartered in Banglore, India as considered a prestigious brand in technology in the region and across the world.

• Modern Times Group MTG, the company established in 1987, in Stockholm, Sweden primarily operates through its four business segments, Nordic Entertainment, International Entertainment, MTGx, and MTG Studio. MTGx is the company's digital business, which has three verticals: Esports, online gaming, and digital video content. It is considered one of the niche market players in terms of sports technology markets. In December 2020, Modern Times Group announced the acquisition of Hutch Games, a U.K.-based games development studio, for USD 375 million. It’s one of those companies that are always focusing on the launch of new products and forming strategic alliances to strengthen its market position.

• Oracle Corporation, established in 1977, in California, the United States, has employee strength of 143, 000 employees across the globe. The company operates its business through three reportable segments: Cloud and License, Hardware, and Services. The market-focused offerings are provided under the Cloud and License business segment. This segment’s offerings include Oracle Database, Oracle Applications, and Oracle Middleware software offerings, which end-users deploy from the Oracle Cloud or their cloud/on-premise IT environments. It is a publicly held company.

• Panasonic Corporation, a publicly held company, was founded in 1918 and operates in Japan, the Americas, Europe, Asia, and China. The company offers modern solutions for sports technology companies due to its technological advancements. Panasonic Corporation operates in four segments: appliances, automotive, connected solutions, industrial solutions, and life solutions. The product portfolio of the company includes Projectors, Display Systems, Cameras, and more.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Sports Technology Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Sports Technology Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.