The size of the global smart sports equipment market was valued at USD 3.45 billion in 2023. The global market is estimated to grow at a CAGR of 7.78% from 2024 to 2029. The global market size is anticipated to be worth USD 5.41 billion by 2029 from USD 3.72 billion in 2024.
The rising awareness regarding the potential of smart sports equipment to give personalized feedback to consumers is primarily propelling the global market. The choice of customers of sports as a way of life to be healthy opens the way for the smart sports equipment market to thrive. In developing economies such as India, China, and other Middle East nations, rising disposable income and expenditure will likely stimulate demand for smart athletic equipment, which supports market growth. These economies have also organized a range of sports activities and established infrastructure to encourage more people to participate in sports, contributing to global market growth.
The rapid adoption of technological advancements such as IoT in the manufacturing of sports equipment is promoting the market’s growth rate. It is a known fact that athletes always strive for perfection in practice and games. Considering the same, several tech companies and manufacturers of sports equipment have started integrating technological advancements such as IoT in the manufacturing of sports goods. For instance, Wilson Sporting Goods, an American based sports equipment manufacturer developed and released “The Wilson Connected Football Training System” which helps to identify the weaknesses of an individual and provides insights to better the game. The SpeedForm Gemini 2 Record-Equipped Sneaker by Under Armour, Shockbox Sports Helmet Sensors, and 94Fifty Smart Sensor Basketball are some of the notable developments in the smart sports equipment market space. The sports equipment that is made with the integration of technological features aids in several ways and assists in improving further in the game, which is primarily driving their adoption and contributing to the global market growth. This particular trend is expected to fuel further and continue propelling the global smart sports equipment market growth.
The growing emphasis on performance optimization, increasing realization among people regarding the importance of real-time data analytics around the performance of sportspeople, and rapid adoption of smart textiles are supporting the global smart sports equipment market. Increasing innovation in smart sports apparel, a growing number of collaborations between the manufacturers of sports equipment the tech companies, and rising wellness consciousness among people are further favoring the growth of the global market.
The development of smart sports equipment would be hampered by technological limitations, significantly restricting the growth of the worldwide smart sports equipment market. The presence of intense competition in the global market is expected to have a negative impact on global market growth. Companies operating in the global market are expected to face challenges in the global market in the form of coping with the advancements of technology and the high competition. Providing a better-quality product at a low price is the primary market challenge as the products' manufacturing cost increases.
Factors such as poor awareness and education regarding the usage of smart sports equipment among people, resistance from some people to adopt new technologies in sports and the discomfort associated with the usage of smart sports equipment during sports activities are further impeding the global market growth.
The COVID-19 pandemic has affected various business verticals worldwide; although, the outbreak's immediate effect varies. While some sectors may experience a decrease in sales, many others will stay undisturbed and exhibit excellent development potential. As a result, COVID-19 is believed to have a tremendous negative effect on the market of smart sports equipment during the pandemic timeline. Due to the reduction in the labor force and significant players' unwillingness to invest in automatic machines, the market is negatively affected. Still, after relaxation in the lockdown, the need for kids' smart sports equipment and accessories rises.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
7.78% |
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Segments Covered |
By Product Type, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Information Sports Technologies, Adidas AG, Under Armour, Nike, BABOLAT VS S.A., PUMA SE, Golfsmith International, Wilson Sporting Goods, Mizuno Corporation, Amer Sports Corporation. |
Owing to the ongoing innovation, growing popularity, and use of Internet-of-things in golf equipment. Smart golf sticks detect and give accurate readings, which makes it popular among users. In addition, beginners and professional golfers can benefit from quick access to high-end practicing aids these smart golf clubs offer. The tech integration in the golf sticks is happening rapidly, which is one of the key factors propelling the smart golf sticks segment in the worldwide market. The usage of sensors in golf sticks to analyze the swing and track the performance of individuals playing the sport has been taken on priority in recent days and this trend is expected to increase significantly during the forecast period and fuel the penetration of technology in golf further. The growing usage of smart golf sticks in professional leagues and the increasing number of people showing interest in playing golf as a recreational activity worldwide is expected to boost the growth rate of the smart golf sticks segment in the global market.
The smart balls segment is another lucrative segment and is anticipated to grow rapidly during the forecast period owing to the increasing adoption of smart balls in sports such as football, soccer ball and basketball. The usage of smart balls in training sessions and sports academies has increased considerably in the recent past and is expected to rise significantly in the coming years and contribute to the growth of the smart balls segment in the worldwide market.
Based on the end-user, the men segment had the largest share of the global market in 2022 and the dominance of the male segment is likely to continue during the forecast period due to the higher percentage of participation in sports by men than women.
In addition, smart sports equipment, like smart tennis racquets, smart golf clubs, and smart helmets are becoming more visible and available as the popularity of these sports equipment among younger customers has surged.
The franchise stores segment accounted for a substantial share of the worldwide market in 2022 and is predicted to grow at a healthy CAGR during the forecast period as the manufacturers focus on customer needs as these are niche products, and customer satisfaction is paramount in such products.
Due to the apparent growing importance of digital marketing and social media, the online distribution channel segment is predicted to grow with a CAGR of 8.6% from 2023 to 2028. In addition, access to online shops like Amazon, Tennishub, and other online platforms has made shopping for these items smoother, which is supposed to gain the segment's growth during the forecast period.
Accounting for the leading share of the global market and the dominance of North America is expected to continue throughout the forecast period due to increased spending on smart sports equipment in nations like the United States, Canada, and other developed countries. Furthermore, the changing lifestyle and rising urbanization in this region are driving the market. In addition, the market in North America is expected to be caused by an upsurge in participation in sports in countries like the United States and Canada.
The increasing popularity of sports technology events in the Asia Pacific region will almost surely boost smart and connected sporting equipment. Sports Tech Asia (STA) is a leading sports technology industry event primarily focused on outdoors technology, and cognitive sports, including smart fashion integrating innovative sports materials and technologies. STA connects global quality supply chain partners with the most up-to-date sports technology in one platform, stimulating the growth of the sports industry chain.
Europe has established a sports culture, which is propelling the European market growth. An increase in the usage of smart sports equipment in the professional leagues and the rising popularity of connected fitness devices in European markets are propelling the European smart sports equipment market.
Regions such as Latin America, the Middle East, and Africa are anticipated to account for a moderate share of the global market during the forecast period.
Companies playing a promising role in the global smart sports equipment market include Information Sports Technologies, Adidas AG, Under Armour, Nike, BABOLAT VS S.A., PUMA SE, Golfsmith International, Wilson Sporting Goods, Mizuno Corporation, and Amer Sports Corporation.
Due to the existence of leading companies, the worldwide market is characterized by intense rivalry. Therefore, the industry's key players focus on product innovations as an outcome of developing new products that help them obtain a higher worldwide market share. Furthermore, because of the strong desire for numerous sports and fitness improvements in the majority of areas, innovative product releases within the market help to keep users' interests alive.
In December 2023, Rawlings, a U.S.-based sports equipment manufacturer, announced a smart baseball bat and named it “2024 Mach AI”. During the launch, it was informed that this smart bat is integrated with the abilities of artificial intelligence and comes with a variety of features such as swing motions.
By Product Type
By End-User
By Distribution Channel
By Region
Frequently Asked Questions
The global smart sports equipment market is predicted to be worth USD 3.45 billion in 2023.
The smart sports equipment market is experiencing growth across various sports segments, with significant contributions from segments such as fitness tracking devices, smart apparel, and sensor-equipped equipment for activities like golf, tennis, and cycling.
Challenges include concerns about data privacy, the need for standardization in technology, and the high initial costs associated with some advanced smart sports equipment.
North America and Europe are leading in the adoption of smart sports equipment, driven by a strong sports culture, technological advancements, and a higher awareness of fitness and health.
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