LONDON, May 25, 2016 /PRNewswire/ -- The world of sports is undergoing a radical transformation thanks to the increasing use of sports wearables. These devices are fundamentally altering the world of sports by providing athletes and coaches deep insights into player technique, health and performance during both training and actual games. As more and more teams across different sports and regions make sports wearables a part of their training regimen, the world of sports looks all set for disruption.
Sports Wearables Market: Key Takeaways, Global, 2015–2020
The global sports wearables market is expected to register a CAGR of % for the period 2015–2020 reaching a market value of $ billion in 2020.
Lack of awareness and absence of long-term clinical evidence proving effectiveness are key challenges impeding growth.
These can be overcome by aggressive marketing and by educating the appropriate target audience of the benefits of sports wearables.
Products targeted at elite athletes and professionals are few and expensive.
Xsens and APDM are among the most formidable competitors.
Basic wearables and services offered by fitness trainers to improve posture and technique of amateur runners and athletes are quite common and very affordable.
In addition to elite athletes, amateur runners and fitness enthusiasts are important target segments that would greatly benefit from a product that can provide insights and suggestions on improving posture and techniques in simple activities such as running and swimming.
Sports is one of the hottest application areas of wearable technology. Technique optimization along with performance monitoring will be among the fastest growing segments driven by factors such as increasing adoption of scientific evidence-based training techniques and fear of player injury due to incorrect form or posture.
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