With the emergence and long-term Impact of COVID-19, Global Smart Sports Equipment Market to reach USD 5.04 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Smart Sports Equipment Market points towards a potential rise to USD 5.04 billion by 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.
Geographically, the global Smart Sports Equipment market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). 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.
The global Smart Sports Equipment market is highly competitive owing to the presence of several key players such as 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, and others.
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Key findings of the study suggest:
- Global Smart Sports Equipment Market is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2023-2030.
- In the Product Type segment, Smart Balls emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the increasing health awareness among people in order to pursue a career in their determined sporting event.
- Asia Pacific is expected to grow at higher rate owing to deployment of small satellites dedicated to communication and navigation functions in the region.
Bizwit Research & Consulting has considered following segments for the study:
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
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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