Global Smart Sports Equipment Market Size study & Forecast, by Product Type (Smart Balls, Smart Golf Sticks, Smart Hockey Sticks, Smart Rackets & Bats, Others), By End-User (Men, Women), By Distribution Channel (Specialty Stores, Franchise stores, Online

Global Smart Sports Equipment Market Size study & Forecast, by Product Type (Smart Balls, Smart Golf Sticks, Smart Hockey Sticks, Smart Rackets & Bats, Others), By End-User (Men, Women), By Distribution Channel (Specialty Stores, Franchise stores, Online Stores) and Regional Analysis, 2023-2030

Global Smart Sports Equipment Market is valued at approximately USD 2.73 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2023-2030. Smart sports equipment is a type of sports equipment that uses sensors and other technology to collect data about the user's performance. This data can then be used to track progress, identify areas for improvement, and provide feedback to help the user improve their performance. The Smart Sports Equipment market is expanding because of factors such as increasing demand for fitness tracking apps and growing demand for IoT sensors. Smart sports equipment is becoming increasingly popular as athletes and fitness enthusiasts look for ways to improve their performance and track their progress. As technology continues to develop, we can expect to see even more innovative and sophisticated smart sports equipment on the market in the future.

According to Statista, Smartwatches are used for tracking fitness parameters, communication, and organizational tasks. Their shipments are expected to increase at a compounded annual growth rate of 11% between the years 2021 to 2024 with over 280 million units expected to be shipped by 2024. Furthermore, the global number of users in the fitness/activity tracking wristwear category of the digital health market is expected to expand by 84.7 million between 2023 and 2027. Another important factor drives the Smart Sports Equipment Market is increasing demand for IoT sensors. Individual athletes can use IoT devices to track their performance, efficiency, and progression. By gathering this data over time, players can acquire a better understanding of their own strengths and shortcomings and use data-driven feedback to advance to the next level. As per Statista, the IoT sensors market will increase up to 43 billion by 2025. In addition, the number of IoT health and sports units was expected to reach up to 171.2 million units by 2025. Also, increasing disposable income and rising consumer spending across sports equipment would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Smart Sports Equipment stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Smart Sports Equipment Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing health awareness among people in order to pursue a career in their determined sporting event. According to Statista, the North American sports market is expected to reach up to USD 83.1 billion by the end of year 2023. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising popularity of sports tech events in the region

Major market players included in this report are:
NIKE, Inc
Golfsmith International Holdings, Inc
PUMA SE
Adidas AG
The Wilson Sporting Goods Company
BABOLAT VS S.A.
HockeyShot Inc.
Riddell Sports Group
Zepp Labs, Inc.
Gridiron Technologies

Recent Developments in the Market:
 In October 2020, Adidas launched Strung, the first textile technology that converts athlete data into dynamic performance material. According to the business, the goal is for this to be the most data-informed textile, based on foot anatomy and athlete movement


Global Smart Sports Equipment Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Product Type, End-User, Distribution Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type
Smart Balls
Smart Golf Sticks
Smart Hockey Sticks
Smart Rackets & Bats
Others

By End-User
Men
Women

By Distribution Channel
Specialty Stores
Franchise stores
Online Stores


By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
NIKE, Inc
Golfsmith International Holdings, Inc
PUMA SE
Adidas AG
The Wilson Sporting Goods Company
BABOLAT VS S.A.
HockeyShot Inc.
Riddell Sports Group
Zepp Labs, Inc.
Gridiron Technologies

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.