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Sports Technology Market to Reach $25.70 Billion by 2030 – Exclusive Report by Meticulous Research®
According to a new market research report titled, ‘Sports Technology Market by Offering (Wearables, Digital Signages, Cameras, Smart Stumps & Bails, Snicko/Edge Detector, VAR, Sports NFT, Tracking Systems, Sports Analytics), Technology, Sport, End User, and Geography – Global Forecast to 2030’, the sports technology market is projected to reach $25.70 billion by 2030, at a CAGR of 26.2% during the forecast period 2023–2030.
The growth of the sports technology market is driven by the increasing adoption of fan engagement technologies, increasing investments in sports data analytics, athlete tech, and performance optimization, in-venue technology, gambling & gaming, and recovery health and home fitness, increasing number of sports events, and growing demand for data-driven decisions and operations.
The increasing emergence of sports leagues & events with large prize pools and the increasing adoption of AR/VR for creating near-perfect training environments are some of the factors which are expected to offer significant growth opportunities for players operating in the sports technology market.
However, very minimal monetization opportunities, difficulty in mining athletic performance data for generating easily understandable insights, and high risk of cybersecurity concerns may hinder the growth of this market. Complexity in integrating new technologies with older systems or applications, slow cultural change in sports, and lack of time-efficient solutions for cleaning and manipulating siloed data are some of the major challenges faced by the players operating in the sports technology market.
Furthermore, the increasing use of generative AI, NFT ticketing and streamlining sports events ticket buying & selling process, and the use of predictive analysis software helping teams & coaches make better decisions are the latest trends in the sports technology market.
Increasing Adoption of Fan Engagement Technologies to Drive Market Growth
Technology is strengthening the bond fans have with their favorite teams and athletes—allowing sports clubs and associations to create deeper, more meaningful connections that are easier to maintain from a distance. Fan engagement has evolved from shouting slogans from the stands to making an impact using digital tools. Sports leagues and clubs worldwide, such as Australian Open, the English Premier League, Formula One, the Rugby Union World Cup, FIFA, ICC, etc., are actively looking for ways to engage with their fans and create a competitive advantage by providing demographics like millennials and Gen Z a highly personalized experience from brands they engage with while being on the go.
According to the Sports Fan Engagement Marketing Report (2018) by Gameplan Insights and Magid Associates, about 60% of sports fans are willing to spend more on experiences with their favorite teams and athletes. Using data analytics, UX researchers, and other research techniques, sports clubs and associations increasingly try to gather insights about their fans before providing the right experience. By collecting data and leveraging technologies like AI and machine learning, sports clubs and leagues map out audience journeys, understand behaviors, and deliver insights supporting fan engagement. For instance, in the context of a starting quarterback for an NFL team, data analytics can reveal how many of their fans are dedicated followers who attend games and buy merchandise. It can also show how the number of people following them changes over time, which helps to identify new fans.
Sports technology is increasingly used for improving the live experience of sports. Using data analytics, and video-based AI technologies, sports brands can create a more engaging experience for their fans. For instance, the baseball team The San Francisco Giants created a virtual reality experience allowing their fans to see how it feels like a batter swinging his bat or a pitcher throwing that ball. Sports fans love to experience things in new and exciting ways, and emerging technologies provide the platform to deliver new experiences.
Based on offering, in 2023, the sports analytics segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to the increasing availability of large amounts of in-field data, growing demand for real-time data access on player performance, need for analytics solutions for analyzing complex in-field data streams, and availability of cost-effective and advanced computing solutions supported by cloud computing.
Based on technology, in 2023, the big data segment is expected to account for the largest share of the sports technology market. The large share of this segment is driven by the availability of advanced technologies such as multicore processors, high-performance databases, and data compression technology, paving the way for new and dedicated applications of big data for sports. Beyond sports performance analysis, clubs, leagues, media companies, and sponsors utilize big data to study fans’ preferences and behaviors, seeking to expand their reach and market penetration.
Based on sport, in 2023, the ball sports segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to increasing applications of various sports technologies to boost sporting quality, improving business performance in the football industry, intense commercialization of football, creating new revenue-generating opportunities, enhancement of players’ and teams’ performance, and improve match officiating to identify and minimize mistakes that went unnoticed earlier in the game.
Based on end user, in 2023, the sports clubs segment is expected to account for the largest share of the sports technology market. Sports clubs are increasingly utilizing advanced technologies for boosting participation and improving communication between players, club officials, as well as additional elements like event planning, team management, financial operations, health and safety records, etc.; use of online platforms and applications for getting updates of players availability for matches and training sessions helping administrators and coaches who work for the club to quickly access this information and organize team sheets and arrangements; and improvement in team performance using sports analytics to gather and analyze vital data on players’ and teams’ performance using sensors, cameras, and other specialist equipment, helping coaches better understand how a player performs.
Based on geography, in 2023, Europe is expected to account for the largest share of the sports technology market. The large share of this region is attributed to the presence of many reputed and big football clubs in the region. Big clubs in Europe are increasingly using data-driven approaches provided by sports technologies to scout for potentially interesting players. Coaches and scouts in the top football clubs in the Europe region rely on advanced sports technologies to make the most informed personnel choices, keep their players in top condition, and get complete holistic views of a player’s capabilities, including detailed information to create individual training & recovery programs and analyze details such as ball handling time, ball speeds & trajectories in real-time.
The key players operating in the sports technology market are Apple Inc. (U.S.), Bellabeat, Inc. U.S.), ChyronHego Corporation (U.S.), SAP SE (German), Misfit, Inc. (U.S.), Catapult Group International Ltd (Australia), Garmin Ltd. (U.S.), PlaySight Interactive LTD. (Israel), Sportradar AG (Switzerland), Fan Three Sixty, LLC (U.S.), Performa Sports Ltd. (Ireland), Pro Football Focus (U.S.), DDSports, Inc. (ShotTracker) (U.S.), Sensor Holdings Limited (StretchSense) (New Zealand), Samsung Electronics Co., Ltd. (South Korea).
Scope of the Report
Sports Technology Market Assessment, by Offering
- Wearables
- Fitness & Heartrate Monitor
- AR/VR Headsets
- Smart Clothing
- Smart Patches
- Hearables
- GPS Trackers
- Contactless Biosensors
- Smart Footwear & Insoles
- Other Devices
- Digital Signages
- Cameras
- Spider Cams
- Drones
- Other Cameras
- Smart Stumps & Bails
- Snicko/Edge Detectors
- Video Assistance Referee
- Sports NFTs
- Tracking Systems
- Sports Analytics
- Player Health & Performance Analytics
- Team Performance Analytics
- Video Analytics
- Player Valuation
- Team Strategy
- Sports Betting
- Others
Sports Technology Market Assessment, by Technology
- Artificial Intelligence
- Neuroscience
- Nanotechnology
- Blockchain
- Virtual Reality
- IoT
- 3D Visuals & Simulations
- Big Data
- Other Technologies
Sports Technology Market Assessment, by Sport
- Bat & Ball Sports
- Cricket
- Baseball
- Golf
- Hockey
- Table Tennis
- Ball Sports
- Soccer/Football
- Basketball
- American Football/Rugby
- Volleyball
- Racket Sports
- Tennis
- Badminton
- Squash
- Other Racket Sports
- Racing Sports
- Formula F1
- Moto GP
- Nascar
- Drag Racing
- Rallies
- Cycling
- Other Racing
- Track & Field Sports
- Water Sports
- Adventure Sports
- Combat Sports
- Other Sports
Sports Technology Market Assessment, by End User
- Sports Clubs
- Sports Associations
- Athletes & Coaches
- Sports Leagues
Sports Technology Market Assessment, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Argentina
- Uruguay
- Rest of Latin America
- Middle East & Africa
- Iran
- Saudi Arabia
- Qatar
- UAE
- Rest of Middle East & Africa
ELA Games, a pioneering game supplier studio, is pleased to announce the appointment of Ewa Kaźmierska as Managing Director. This strategic leadership hire marks a pivotal moment in the studio’s journey, positioning ELA Games for accelerated growth and increased market penetration within the competitive iGaming sector.
Ewa brings over 15 years of senior leadership expertise, having successfully steered a game studio through periods of sustained growth and innovation. Her proven track record as a former Chief Executive Officer at multiple iGaming brands will be instrumental in driving ELA Games’ ambitious roadmap. Ewa’s appointment aligns with the studio’s commitment to excellence and reinforces its mission to deliver an exceptional portfolio that resonates across global markets.
ELA Games is gearing up for an impactful 2025, with Ewa at the helm to guide the studio’s expansion strategy. Her leadership will support the studio’s initiatives in establishing a strong market presence and enhancing product development to meet evolving industry demands.
Ewa commented on her new role, stating, “Joining ELA Games presents an incredible opportunity to lead a talented team with a clear vision for growth and innovation. ELA Games has the potential to become a leading force in the industry, and I am excited to contribute to its journey toward building a unique and influential gaming portfolio.”
The addition of Ewa Kaźmierska to ELA Games’ executive team underscores the studio’s dedication to robust growth and strategic excellence. With this leadership move, ELA Games is poised to strengthen its position as a premier game supplier in the iGaming landscape.
The post ELA Games Welcomes Ewa Kaźmierska As MD appeared first on European Gaming Industry News.
Here are this weeks latest slots releases compiled by European Gaming
Tom Horn Gaming invites bold adventurers to join Max Gold, the fearless explorer, as he delves deep into faraway lands, seeking hidden treasures, legendary jackpots, and mysteries waiting to be uncovered. With an array of exciting features, including the Hold & Win bonus game with jackpots and respins, shatter mode with increasing multipliers, stake booster, and bonus buy, Max Gold.
PopOK Gaming is thrilled to announce the release of its newest slot game, Spinosaurus – a captivating 3×5 slot that transports players back to the thrilling age of dinosaurs! With vibrant, colorful visuals and dynamic gameplay, Spinosaurus features the iconic, mighty dinosaur as your guide on an adventurous quest for massive wins. Players can immerse themselves in prehistoric excitement while aiming for incredible rewards.
Belatra Games has launched its pirate-themed title, Tortuga Codex. This 5×4 slot casts players on a journey on the hunt for untold riches buried on a mysterious island. A Skull symbol acts as the Wild and will substitute for any other symbol to increase the chances of a win. An intriguing element to the game lies in the Additional Reel feature which sits above the main frame. It’s in sync with the main reels, displaying Wild symbols, special pirate icons, and numbers from one to nine.
Vibra Gaming has unwrapped its latest release, Candy Loop, where if players trigger the Candy Round bonus they can max their win by up to 5000x in a game for all sweet-toothed slot fans. Set within a backdrop of clouds and sugar players will lap up this delicious classic three-stepper slot mechanic packed with sweet bonuses, free spins and wilds.
Zillion Games is thrilled to announce the release of Egypt’s Moon, a high-volatility slot that invites players to journey through the mysteries of ancient Egypt under a mesmerizing nighttime sky. Featuring Cleopatra, hidden treasures, and the essence of Egypt’s rich mythology, Egypt’s Moon promises an enthralling experience set against a captivating backdrop. This slot game offers players 25 paylines and an RTP of 96.75%, delivering both excitement and reward.
Having made a big splash with its popular Aqua Lord slot back in 2022, innovative software developer, Swintt, is preparing to dive beneath the waves once more in an action-packed sequel that now features new and improved Pearl Respins and even bigger prizes. Played out across five reels and ten fixed paylines, Aqua Lord 2 picks up where its predecessor left off by once again plunging players into a world of sunken treasures where sticky pearl symbols hold the key to unlocking huge wins of up to 6,000x the bet and two incredibly rewarding features.
Amusnet has released Extra Crown Dice. This latest addition to Amusnet’s online casino portfolio is a majestic dice slot filled with thrilling features. This 5-reel, 10 fixed lines dice game is based on one of the video slots, with redesigned symbols to look like dice. The kingdom of Extra Crown Dice is full of excitement with dice, sevens and eights, where fortunes await those bold enough to seize them. The Star and the Fleur-de-lis symbols are the Scatter symbols boosting the player’s winnings.
The dazzling dancefloor of Piggy Blitz returns with Piggy Blitz Disco Gold, the latest 6×4 online slot sensation from Play’n GO, boasting immersive features and endearing characters. The dancefloor is calling, and it’s shining brighter than ever! Piggy Blitz Disco Gold takes players back to the groovy days of the 1970s – where neon lights and disco beats set the stage for high-energy spins and big-time wins. Our favourite pigs are back, bringing glittering Cash Coins and the exclusive Gold Piggy Feature to this glitzy slot adventure.
Booming Games is going for goal with its first-ever instant win title, Ronaldinho Scores Shoot & Win, as it continues to leverage its partnership with the international footballing icon. Players step into the football boots of Ronaldinho and experience the thrills and excitement of trying to beat the keeper. Each shot the player takes could mean a big prize – there are 16 prizes in total with each kick potentially delivering at least 3 instant rewards.
The post Week 45/2024 slot games releases appeared first on European Gaming Industry News.
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
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