Sports Electronics Devices Market By Product Type (Pedometers, Fitness or Heart Rate Monitors, Smart Fabrics, Smart Camera, Shot Trackers, Others), By End-User (Sports Centers, Fitness Centers, Homecare Settings): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global sports electronics devices market was valued at $19.6 billion in 2021, and is projected to reach $73.6 billion by 2031, growing at a CAGR of 14.8% from 2022 to 2031.
Athletic performance has significantly increased due to technological advancements in the sports industry. In reality, whether it is equipment or training innovations, practically all human increases in sports performance may be linked in some manner to technological advancements. Athletic performance has further advanced owing to training innovations. Athletes have benefited from the use of biomechanical analysis to improve their technique in sports like golf, tennis, and cricket. This has decreased injuries while also enhancing performance consistency. Other innovations have been employed to develop more focused training zones and promote stronger physiological adaptations, such as the use of VO2 max or lactate threshold testing.
An increase in manufacturing businesses' investments in the sports industry and a rise in athletes' use of wearable technology are two key factors influencing the growth of the global sports electronics market. Additionally, the need for biosensor solutions is likely to drive the growth of the sports electronics devices market during the forecast period due to advanced technologies being used in the fitness and sports facilities to monitor athletes' biorhythms. However, one of the main reasons limiting the growth of the global sports electronics’ devices market is the high initial investment, low budgets, and data privacy and cybersecurity concerns.
The sports electronics devices market is segmented on the basis of product type, end user, and region. On the basis of product type, the market is divided into pedometers, fitness and heart rate monitors, smart fabrics, smart camera, shot trackers, and others. By end user, the market is segmented into sports centers, fitness centers, homecare settings, and others. By region, the market is studied across North America, Europe, Asia-Pacific and LAMEA.
The key players that operate in the market include Apple, Blast Motion, Catapult Sports, Fitbit (Google), Garmin, Hawk-Eye Innovations (Sony Corporation), Panasonic Corporation, Polar Electro, Adidas, and Zepp.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sports electronics devices market analysis from 2021 to 2031 to identify the prevailing sports electronics devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the sports electronics devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global sports electronics devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Fitness or Heart Rate Monitors
Smart Fabrics
Smart Camera
Shot Trackers
Pedometers
Others
By End-User
Sports Centers
Fitness Centers
Homecare Settings
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Garmin Ltd.
Polar Electro
Zepp Labs, Inc.
Blast Motion
Fitbit(Google)
Hawk-Eye Innovations (Sony Corporation)
Apple, Inc.
Catapult
Panasonic Corporation
Adidas
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