The sports tracking from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Sports Tracking Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The sports tracking market size has grown strongly in recent years. It will grow from $2.74 billion in 2023 to $2.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. 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 $4.18 billion in 2028 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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Scope Of Sports Tracking Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sports Tracking Market Overview
Market Drivers –
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 January 2022, according to the Outdoor Industry Association, a US-based organization, in 2021, 164.2 million Americans, equivalent to 54% of the population aged 6 and above, engaged in outdoor recreation at least once, marking the highest participation rate ever recorded. Since March 2020, the outdoor participation base has increased by 6.9%, with a further 2.2% growth in 2021, totaling 164.2 million participants. Therefore, the increasing health consciousness is driving the growth of the sports tracking market.
Market Trends –
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.
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
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Regional Insights –
North America was the largest region in the sports tracking market in 2023. The regions covered in the sports tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Sports Tracking Market Report Structure
3. Sports Tracking Market Trends And Strategies
4. Sports Tracking Market – Macro Economic Scenario
5. Sports Tracking Market Size And Growth
…..
27. Sports Tracking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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