What are the latest figures on the sports tracking market’s size and projected CAGR?
The sports tracking market size has grown strongly in recent years. It will grow from $2.98 billion in 2024 to $3.24 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increased the attractiveness of sports tracking devices, increased investments in sports, increased concerns over contact tracing, Increased emphasis on real-time data, and increased adoption of sports analytics.
The sports tracking market size is expected to see strong growth in the next few years. It will grow to $4.54 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to the growing popularity of sports betting, rising demand for predictive insights into fan preferences, personalized coaching and recommendations, growing demand for optical solutions, and increasing adoption of mobile-based applications. Major trends in the forecast period include GPS tracking and route mapping, esports technology, predictive analysis software, biometric sensors and health monitoring, and weather data integration.
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Which Market drivers have played a significant role in driving the sports tracking market?
The increasing health consciousness is expected to propel the growth of the sports tracking market going forward. Health consciousness refers to the awareness, knowledge, and proactive efforts individuals and communities undertake to maintain or improve their health and well-being. Increasing health consciousness is due to rising healthcare expenses, preventive care trends, media influence, environmental awareness, demographic shifts, wellness industry expansion, and cultural emphasis on self-care and mental well-being. Sports tracking enhances health consciousness by providing real-time data and insights into physical activity, encouraging accountability and informed decision-making towards healthier lifestyles. For instance, in May 2023, according to the Office for National Statistics, a UK-based national statistics organization, UK healthcare expenditure reached approximately $354.88 billion (£283 billion) in 2022, reflecting a nominal increase of 0.7% compared to spending in 2021. Therefore, the increasing health consciousness is driving the growth of the sports tracking market.
What are the key segments within the sports tracking market?
The sports tracking market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Deployment Type: Cloud-Based, On-Premises
3) By Application: Player Analysis, Team Analysis, Health Assessment, Video Analysis, Other Applications
Subsegments:
1) By Hardware: Wearable Devices (Smartwatches, Fitness Bands), Sensors (GPS, Accelerometers, Heart Rate Monitors), Smart Clothing Or Footwear, Cameras (Action Cameras), Smart Helmets, Tracking Devices (GPS Trackers, Heart Rate Monitors)
2) By Software: Mobile Applications, Cloud-Based Platforms, Analytics Software, Performance And Health Tracking Software, Virtual Coaching Software, AI-Based Performance Prediction Tools, Data Visualization And Reporting Tools
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Which key players are shaping the sports tracking market?
Major companies operating in the sports tracking market are Huawei Technologies Co Ltd., SAP SE, HCL Technologies Limited, Zebra Technologies Corporation, Garmin Ltd., SAS Institute Inc., Sportradar Group AG, Stats Perform, Polar Electro Oy, Catapult Group, Withings SA, ChyronHego Corporation, Aftership Limited, Kinexon AG, Sports Mechanics, Sensoria Inc., JOHAN Sports B.V., LifeBEAM Technologies Inc., STATSports Group Ltd, Track160 Inc., Hexoskin Inc., Sports Performance Tracking Pty Ltd
Which transformative trends will shape the sports tracking market landscape?
Major companies operating in the sports tracking market are focusing on developing advanced solutions, such as a new GPS-based player tracking system, to gain a competitive edge in the market. A global positioning system (GPS)-based player tracking system refers to a technology used in sports to monitor and analyze the movements and performance of athletes during training sessions and games. For instance, in May 2023, Kinexon AG, a Germany-based provider of real-time player tracking solutions, launched Kinexon Perform GPS Pro, a GPS-based player tracking system designed for coaches in soccer, football, and other outdoor team sports. This innovative product offers unique features such as real-time tracking, over 100 performance metrics, live data streaming to the AWS Cloud, automated data processing, and wireless charging, making it an advanced GPS-based player-tracking system for outdoor team sports.
How do regional factors impact the sports tracking market, and which region is the largest contributor?
North America was the largest region in the sports tracking market in 2024. The regions covered in the sports tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Sports Tracking Market Report 2025 Offer?
The sports tracking market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Sports tracking refers to the use of technology to monitor, record, and analyze various aspects of athletic performance and activities. It utilizes sensors and software applications to collect data on metrics such as speed, distance, heart rate, and movement patterns, providing valuable insights to enhance athletic training and performance.
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