The increasing demand for tracking devices, rising influence through social media platforms, and rapid adoption of internet-of-things are the leading factors driving the global smart sports equipment market during the projected period.
According to TechSci Research report, “Smart Sports Equipment Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The global market for smart sports equipment is expected to expand significantly during the forecast period due to the growing need for smart sports equipment to measure athletes’ performance. In addition, increased use of wearable devices and the integration of innovative technology in sporting goods are predicted to accelerate market revenue growth over the forecast year significantly.
Smart sports equipment is a type of device used to track, collect, and analyze data on athletes’ performance. Numerous smart sport features are digitally connected to the sports equipment, including accelerometers, Bluetooth connectivity, and motion sensors. The rapid adoption of IoT and the growing emphasis on improving sportsperson safety are the main drivers of the global market for smart sports equipment. IoT is a cost-effective technology that enables machine-to-machine (M2M) communication, delivers automation, gives accurate information without human interaction, monitors accurate data, and saves significant time. The potential of smart sports equipment to provide users with personalized feedback is expected to boost the market growth. Additionally, consumers’ increased attraction to sports as a way of life has grown along with their increased health consciousness, which is anticipated to promote market expansion.
The advancement of different athletic equipment, such as cricket bats, tennis rackets, ball games, golf clubs, etc., that helps to monitor motion using vibration sensors can be used to identify data for every shot. These technological advancements in the sports equipment sector have increased the demand for smart sports gear, drawing a sizable customer base to various sports and fueling market expansion.
The sports industry is evolving as a result of the essential integration of digital technology and innovation. The population’s fast shifting lifestyle, which is fueled by technology, is assisting in boosting the overall sales of smart sports equipment. Due to students’ declining physical health over time, smart sports equipment will eventually be utilized in schools physical education programs at schools and universities.
In addition, the sports industry has begun implementing IoT to produce smart sporting goods. These tools make it easier for amateurs and experts to keep track of, monitor, and evaluate their performance. For instance, Adidas created smart football with IoT integration for the German national football team, by which spin, speed, strike, and flight direction were detected by the IoT sensors included in the ball. Additionally, the IoT-based smart ball app aids in monitoring players’ performance and allows the app users to analyze diagnostics. As a result, the market for smart sports equipment is expanding quickly due to the extensive use of IoT.
The provision of quick courses and programmes by academic institutions and governmental organizations to encourage the popularization of technology in the sports sector is anticipated to give great momentum to the target product in the forecast period. Additionally, the audience is becoming more active in sports as a result of having access to 24/7 sports news and updates driven on by the development of new social media platforms, which will have an effect on the future growth trajectory of sales of smart sports equipment.
Due to the growing popularity of Wi-Fi compatible smart golf clubs and sticks, they offer realistic training and playing experience, dominating the market for smart sports equipment. These smart golf clubs allow novice and experienced golfers to get better practice equipment quickly. The popularity of golf among consumers is anticipated to increase, which will benefit the use of smart equipment like golf sticks.
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The global smart sports equipment market is segmented into residential, and sports clubs based on end users. The demand for sports clubs is increasing owing to the rising number of sports clubs and professional athletes in different countries.
Key market players in the smart sports equipment market include:
- Golfsmith International Holdings, Inc.
- HockeyShot Inc.
- Zepp Labs, Inc.
- DribbleUp, Inc.
- Gridiron Technologies LLC
- Under Armour, Inc.
- MIZUNO Corporation
- BRG Sports Inc
- Riddell, Inc.
- Amer Sports Corporation
Owing to the rising number of competitors in the smart sports equipment market, different companies are taking several measures to survive. For instance, Riddell, Inc. announced its collaboration with Oakley in 2021 to offer innovative technology and on-field sporting goods. With this, the company looks forward to expanding its business in various countries.
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” The rising number of professional athletes worldwide, the growing popularity of smart tracking devices for better tracking and recognizing the key areas where the athlete has to work, and the increasing number of professional sports clubs and professional athletes which are preparing to take part in national and international games will influence the global smart sports equipment market demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Smart Sports Equipment Market Segmented By Product Type (Balls, Golf Sticks, Hockey Sticks, Rackets and Bats), By End User (Residential, Sports Club), By Distribution Channel (Exclusive Stores, Specialty Stores, Online, Others (Direct Sales, Distributors), By Region, Competition, Forecast & Opportunities, 2018-2028F” has evaluated the future growth potential of smart sports equipment market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in smart sports equipment globally.
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