22.12 % CAGR to be Recorded in Smart Sports Equipment Market from 2022 to 2027 | 17,000+ Technavio Research Reports

NEW YORK, Feb. 12, 2024 /PRNewswire/ -- The smart sports equipment market is estimated to grow by USD 19.15 billion from 2022 to 2027, growing at a CAGR of 22.12%. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying

The smart sports equipment market is fragmented owing to the presence of many global and regional companies. A few prominent companies are Adidas AG, ANTA Sports Products Ltd., BRG Sports Inc., Callaway Golf Co., DribbleUp Inc., EGYM Inc., HYGEAR Inc., InfomotionSports, JingleTek Co. Ltd., Kinexon GmbH, Mizuno Corp, Nike Inc., PUMA SE, Spektacom Technologies Pvt Ltd, Stag International, STATSports Group Ltd., Under Armour Inc., WHOOP Inc., Zepp Health Corp., and Sports Tech Solutions Pte. Ltd. 

Company Offering:

• Adidas AG: The company offers miCoach smart ball.
• ANTA Sports Products Ltd. - The company offers Wilson X Connected Football.
• BRG Sports Inc. - The company offers smarter football through its brand, Riddell.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. North America will have the largest share of the market.

• North America is estimated to account for 35% of the global market during the forecast period. In the region, the US and Canada are the top buyers of smart sporting equipment. Sports organizations, federations, and clubs promote the use of IoT technology and connected devices like smart basketballs, soccer balls, and golfers. The market is driven by the growing demand for digitized sports devices such as the Wilson X-connected football and various sports analytics platforms from the US sports industry. Such factors are expected to drive the global growth in the region during the forecast period. 

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• Impactful driver- Increased emphasis on the Internet of Things
• Key Trend - Increased demand for neurostimulation 
• Major Challenges - The premium pricing

 Segmentation

• The share growth by the offline segment will be significant during the forecast period. 

Technavio Research experts have provided more insights on the share of segments - View FREE Sample Report

FAQS

• How do the major trends impact the market?
• How big is the North America region?
• How do the key drivers and challenges impact the market?

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The sports equipment market size is estimated to grow at a CAGR of 6.43% between 2022 and 2027. The size is forecast to increase by USD 60.3 billion.  This report extensively covers segmentation by product (ball games, fitness/strength equipment, ball over net games, athletics training equipment, and others), distribution Channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).  One of the key factors driving the growth is the rising health and fitness awareness among individuals.

The convergence of smart wearables and sensor technology has revolutionized the fitness industry. Connected sports equipment and fitness trackers equipped with IoT capabilities offer real-time biometric data through biometric sensors and smart clothing. Activity monitors integrated with GPS enable precise tracking of performance metrics. Wearable technology has ushered in an era of personalized training regimens and performance analytics, empowering athletes and enthusiasts alike to optimize their workouts and achieve their fitness goals more efficiently. Whether it's monitoring heart rate, steps taken, or calories burned, these innovations have become indispensable tools for individuals striving for peak performance and overall well-being.

TOC:

1 Executive Summary

2 Landscape

3 Sizing

4 Historic Size

5 Five Forces Analysis

6 Segmentation by Distribution Channel

7 Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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