In current scenario athletes expect high quality performance from their sports equipment. Smart sports methodology can actually give very quick feedback about the performance of the player. Smart sports technology is a combination of very small, increasingly affordable sensor like gyroscopes and accelerometers. Smartphones are being packed with them and they have assisted the boom of the fitness tracker business. The growth of smart sports market is highly reliant on the rising demand of predictive analysis in sports and growing awareness of maintaining physical fitness among the players.
Continuously increasing demand for the data driven analysis of the sports activities is acting as a major growth driver for the smart sports market. Therefore, the advancement in the super smart way for the purpose of improving the practice & play and connected GPS to keep a track of the heart rate while running is also one of the key factor anticipated to catalyze the growing demand of smart sports equipment’s during the forecast period. In addition, growing demand for the exercising regime and healthy lifestyle is also anticipated to increase the demand of the smart sports equipment’s in the upcoming years. In turn this is also projected to affect the smart sports market in a positive manner during the forecast period.
In spite of many driving factors, the smart sports market is expected to show a shrink and fluctuation in growth rate because of the lack of technical infrastructure in the sports industry. Issues with the penetration of the smart technologies in case of performance monitoring is also acting as one of the major constraint for the smart sports market. Limitation in the range of the sports accessories, equipment’s and products which are equipped with advanced sensor and technological barrier in case of adoption of the smart sports equipment are also acting as restraining factor for the smart sports market. Performance monitoring of the athletes across various sports event is expected to act as key opportunities for the smart sports market.
For the purpose of doing in depth analysis, the smart sports market has been segmented on the basis of product type, connectivity features, pricing and geography. Based on the product type the smart sports market has been segmented into seven categories those are smart baseball, smart baseball bat, smart golf stick, smart tennis racket, smart hockey stick, smart rope and others. Based on the connectivity features, the smart sports market has been segmented into three segments they are smartphone synchronization, real time data syncing and wireless syncing. Based on the pricing the smart sports market can be segmented into three categories those are mid pricing, premium pricing and super-premium pricing. Moreover, this report also provide cross functional analysis of all the above mentioned segment across different regions such as Europe, North America, Asia Pacific, Middle East and Africa and Latin America. By product type, the smart baseball bat and golf stick is expected to capture largest market share in the forecast period. Continuously increasing customer spending in golf and baseball is estimated to drive the sale of smart baseball bat and smart golf stick. Geographically, the global smart sports market is mainly driven by North America region. Significant increase in the spending in sports in the U.S. and Canada has been driving the market of smart sports in North America. U.S. is leading the smart sports market in North America.
Some of the leading players operating in the smart sports market includes NIKE, Inc., Adidas AG, Under Armour, Inc., Amer Sports Corporation, Callaway Golf Company, QUATTRIUUM INC. , Mizuno Corporation , Game Golf , BABOLAT VS S.A. among others.
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