The world of sport is persistently changing over the years, and the use of technology is just one of those areas that has made an impact on many sports. Technology has impacted every corner of society and every industry--from healthcare, to government, education, business, and sports. The use of technology in sports has grown a lot within performance enhancement, injury prevention, injury recovery and athletes’ health maintenance Sports Technology Market.
Technology gathers data about every second of the game, which can be analyzed to boost talent, health management as well as coaching – the three factors which matters most in sport.Athletic health monitoring through modern Sports Technology Market such as heart rate monitors, pedometers and body fat monitors, is a greater depended knowledge of the human body. There are fitness bracelets like Fitbit, smart watches, GPS watches and many more devices on the market for monitoring health parameters. Participant safety at all times has been made possible through the development of certain sporting equipment, such like mouthpieces and helmets, with built-in technology that collects biomechanical data to gather information about brain injuries. There are even smart socks that use textile pressure sensors to evaluate the likelihood of a running injury. Ranging from nutrition to the treatment of injuries, as the knowledge of the human body has deepened over time, an athlete's potential has been increased. Technology advancement is applied not only to an athlete's health but also to athlete's technique, or equipment's characteristics.
Team and individual fitness and sports activities are growing significantly across the globe. With a significant rise in celebrity endorsements for fitness and other technological sportswear, the global market for Sports Technology Market is expected to rise at a significant momentum. Many sporting activities require high level of visual skills which in turn process and transmit information at high speeds through a process which is known as parallel pathways. The recently developed technology called Hawk-Eye technology, is the name of a computer and camera system which traces a ball's trajectory which is used in international cricket, tennis and rugby. The analysis of sport performance provided by Hawkeye has greatly enhanced the sports technology market by increasing spectator's knowledge and involvement.
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People are indulging in various activities to maintain mental and physical health due to the increased awareness about the benefits of sports and outdoor games. This in turn, is driving the expansion of the sports technology market. Furthermore, the emergence and spread of new and indigenous sports across regions is further expected to bode well for the growth of the market in the coming years. Technology eliminating human error, maximizing injury prevention and growing opportunities to improve are the factors driving the extensive growth of market in coming years. However, high cost of technology for various types of sports equipment threatens distribution to all the participants in several developing and underdeveloped countries is most likely to hinder the growth of the market at present. In addition to this, time required to review sports through technology such as replays is also a key restraint for the market growth.
The global market for sports technology market is segmented on the basis of application, sports type and geography. Based on the application type, the market is segmented into fan insights & engagement analysis, team management analysis, business operations analysis, video analysis, injury and health assessments, and others. The sports type segment covers team/group sports and individual sport. The team sports include various leading sports namely, American Football, Association Football, Cricket, Hockey, Baseball, Basketball, and Others. Moreover, on the basis of geography the global market is classified into North America, Europe, Middle East and Africa, Asia Pacific and South America.
During the forecast period, Asia Pacific is expected to show a significant growth trajectory for sports technology products. This is due to the increasing number of sports activities and increasing consumer awareness in this region.
Some of the major players are Catapult Sports, SportRadar, Apple, V.F. Corporation, DuPont, BASE SE, ExxonMobil, Fitbit etc.