Smart Sports Equipment Market Size to grow by USD 19,159.7 million from 2022 to 2027, North America to account for 35% of market growth - Technavio

NEW YORK, May 18, 2023 /PRNewswire/ -- The smart sports equipment market is estimated to grow by USD 19,159.7 million from 2022 to 2027, growing at a CAGR of 22.12%. North America is estimated to account for 35% of the global market growth during the forecast period. The US and Canada are the largest consumers of smart sporting goods in this region. Several sports organizations, federations, and sports clubs highlight the use of IoT technology and connected devices such as smart basketballs, smart soccer balls, and smart golfers. The rising demand for digitized sports devices, such as Wilson X-connected football and various sports analytics platforms from the US sports industry, is a key driver of the market. Hence, such factors drive regional growth during the forecast period. 

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Vendor Landscape
The smart sports equipment market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now and take the first step towards improving your business strategy 

Smart Sports Equipment Market - Market Dynamics

Major Drivers & Challenges- 

One of the major factors driving the growth in the smart sports equipment market is the increased emphasis on the Internet of Things. Smart sports equipment plays a pivotal role to collect various strands of data, including player performance, player health level, and various other vital information using various equipment such as smartwatches, fitness trackers, as well as connected football and connected basketballs. Hence, such factors drive the market growth during the forecast period.

The premium pricing of smart sports equipment will be a key challenge hindering the smart sports equipment market during the forecast period. Even though smart sports accessories such as fitness trackers, and smartwatches are affordable, with the product cost ranging from USD 15 to USD 30, smart sports equipment. It includes equipment such as smart baseball bats and golf sticks and connected basketballs and footballs that fall in the premium-priced segment and cannot be afforded by many individual coaches and small sports teams and are purchased by sports clubs with adequate funding to back up their investments. Hence, such challenges impede the market growth during the forecast period.

Key Trends-

Increased demand for neurostimulation is the primary trend in the global smart sports equipment market growth. Neurostimulation techniques use electrical or magnetic stimulation to increase nerve activity in the body and have been shown to be beneficial in sports training and performance. One of the major benefits of neurostimulation technology is that it helps to improve strength and endurance, which is especially important for athletes looking to push their physical limits. By stimulating the nerves that control muscle movement, neurostimulation can help athletes train harder and recover faster, which results in improved performance. Hence, such factors fuel market growth during the forecast period.

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Company Profiles

The smart sports equipment market report includes information on the product launches, sustainability, and prospects of leading vendors including 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.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others.

Smart Sports Equipment Market - Market Segmentation

This smart sports equipment market report extensively covers market segmentation by distribution channel (offline and online), product (ball sports, fitness sports, and other sports), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

• The market share growth by the offline segment will be significant for overall market growth during the forecast period. Based on this distribution channel, the global smart sports equipment market can be segmented into various categories. Those categories include Sports goods stores, Department stores, Specialty stores, Supermarkets/hypermarkets, and Fitness centres/gymnasiums. This segment not only offers customers the opportunity to try products before they buy but also provides a physical location for customer service and support, driving growth in the segment, thus driving the growth of the global smart sports market. 

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Table of Contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global smart sports equipment market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global smart sports equipment market 2017 - 2021 ($ million)

• 4.2 Distribution channel Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 42: Market opportunity by Distribution Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 44: Chart on Product - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Ball sports - Market size and forecast 2022-2027
• Exhibit 48: Chart on Ball sports - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Ball sports - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Ball sports - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Ball sports - Year-over-year growth 2022-2027 (%)

• 7.4 Fitness sports - Market size and forecast 2022-2027
• Exhibit 52: Chart on Fitness sports - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Fitness sports - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Fitness sports - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Fitness sports - Year-over-year growth 2022-2027 (%)

• 7.5 Other sports - Market size and forecast 2022-2027
• Exhibit 56: Chart on Other sports - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Other sports - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Other sports - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Other sports - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 60: Market opportunity by Product ($ million)
• Exhibit 61: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Adidas AG 
• Exhibit 115: Adidas AG - Overview
• Exhibit 116: Adidas AG - Business segments
• Exhibit 117: Adidas AG - Key news
• Exhibit 118: Adidas AG - Key offerings
• Exhibit 119: Adidas AG - Segment focus

• 12.4 ANTA Sports Products Ltd. 
• Exhibit 120: ANTA Sports Products Ltd. - Overview
• Exhibit 121: ANTA Sports Products Ltd. - Business segments
• Exhibit 122: ANTA Sports Products Ltd. - Key news
• Exhibit 123: ANTA Sports Products Ltd. - Key offerings
• Exhibit 124: ANTA Sports Products Ltd. - Segment focus

• 12.5 BRG Sports Inc. 
• Exhibit 125: BRG Sports Inc. - Overview
• Exhibit 126: BRG Sports Inc. - Product / Service
• Exhibit 127: BRG Sports Inc. - Key offerings

• 12.6 DribbleUp Inc. 
• Exhibit 128: DribbleUp Inc. - Overview
• Exhibit 129: DribbleUp Inc. - Product / Service
• Exhibit 130: DribbleUp Inc. - Key offerings

• 12.7 EGYM Inc. 
• Exhibit 131: EGYM Inc. - Overview
• Exhibit 132: EGYM Inc. - Product / Service
• Exhibit 133: EGYM Inc. - Key offerings

• 12.8 HYGEAR Inc. 
• Exhibit 134: HYGEAR Inc. - Overview
• Exhibit 135: HYGEAR Inc. - Product / Service
• Exhibit 136: HYGEAR Inc. - Key offerings

• 12.9 InfomotionSports 
• Exhibit 137: InfomotionSports - Overview
• Exhibit 138: InfomotionSports - Product / Service
• Exhibit 139: InfomotionSports - Key offerings

• 12.10 Kinexon GmbH 
• Exhibit 140: Kinexon GmbH - Overview
• Exhibit 141: Kinexon GmbH - Product / Service
• Exhibit 142: Kinexon GmbH - Key offerings

• 12.11 Mizuno Corp 
• Exhibit 143: Mizuno Corp - Overview
• Exhibit 144: Mizuno Corp - Business segments
• Exhibit 145: Mizuno Corp - Key offerings
• Exhibit 146: Mizuno Corp - Segment focus

• 12.12 PUMA SE 
• Exhibit 147: PUMA SE - Overview
• Exhibit 148: PUMA SE - Business segments
• Exhibit 149: PUMA SE - Key news
• Exhibit 150: PUMA SE - Key offerings
• Exhibit 151: PUMA SE - Segment focus

• 12.13 Spektacom Technologies Pvt Ltd 
• Exhibit 152: Spektacom Technologies Pvt Ltd - Overview
• Exhibit 153: Spektacom Technologies Pvt Ltd - Product / Service
• Exhibit 154: Spektacom Technologies Pvt Ltd - Key offerings

• 12.14 Stag International 
• Exhibit 155: Stag International - Overview
• Exhibit 156: Stag International - Product / Service
• Exhibit 157: Stag International - Key offerings

• 12.15 STATSports Group Ltd. 
• Exhibit 158: STATSports Group Ltd. - Overview
• Exhibit 159: STATSports Group Ltd. - Product / Service
• Exhibit 160: STATSports Group Ltd. - Key offerings

• 12.16 Under Armour Inc. 
• Exhibit 161: Under Armour Inc. - Overview
• Exhibit 162: Under Armour Inc. - Business segments
• Exhibit 163: Under Armour Inc. - Key offerings
• Exhibit 164: Under Armour Inc. - Segment focus

• 12.17 Zepp Health Corp. 
• Exhibit 165: Zepp Health Corp. - Overview
• Exhibit 166: Zepp Health Corp. - Business segments
• Exhibit 167: Zepp Health Corp. - Key offerings
• Exhibit 168: Zepp Health Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations 
• Exhibit 175: List of abbreviations

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