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Global Smart Sports Equipment Market Is Projected To Register A Healthy CAGR Of 8.1% From 2020 To 2027 | Grand View Research, Inc.

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Global Smart Sports Equipment Market Is Projected To Register A Healthy CAGR Of 8.1% From 2020 To 2027 | Grand View Research, Inc.

June 15
08:56 2020
Global Smart Sports Equipment Market Is Projected To Register A Healthy CAGR Of 8.1% From 2020 To 2027 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global smart sports equipment market size was valued at USD 2.16 billion in 2019 and is expected to grow at compound annual growth rate (CAGR) of 8.1% from 2020 to 2027.

The global smart sports equipment market size is expected to reach USD 4.04 billion by 2027, expanding at a CAGR of 8.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising developments in sports technology through advanced technologies, such as Internet of Things and Augmented Reality, have developed a keen interest among consumers in smart sporting equipment. Additionally, increasing consumer attention towards sports as a lifestyle in order maintain fitness and track athletic performance is boosting the demand for advanced products.

Shifting preference for real time performance tracking process has paved the way for technology integrated sporting equipment over traditional sports equipment, which has increased the adoption of smart sporting equipment across the globe. These smart sports equipment, which are digitally connected through sensors, help sportspersons or athletes to track, monitor, analyze, and improve their performance. According to a 2017 study by the University of Wollongong, approximately 50% of youth regularly participate in organized sports in U.S., Canada, and England. Thus, rising participation of people, particularly young consumers, in various sporting activities is likely to positively impact the growth of the market.

Moreover, rising number of children indulging in different sporting activities to turn it into a career option has offered greater prominence to the product, thereby resulting in higher adoption of smart sports equipment. Newer product launches by manufacturers in the industry are incorporating advanced features in the product that support effective performance metrics. For instance, in 2019, KAHA PTE LTD launched a smart jump rope, Lifeflow. This equipment is embedded with sensors in the handle, which enables collecting biometric data while skipping.

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U.S. smart sports equipment market size, by product, 2016 - 2027 (USD Million)

Franchise stores held the largest share of 55.6% in 2019 owing to easy availability and wide distribution network of these stores. High number of manufacturers selling these products through company owned retail stores owing to the niche product segment is boosting the sales of these products through franchise stores.

Smart Sports Equipment Market Report Highlights

  • North America held the largest share of the overall revenue in 2019
  • By product, balls are expected to expand at the fastest CAGR of 9.7% due to rise in sports and fitness activities
  • Based on distribution channel, specialty stores are expected to expand at the fastest CAGR of 9.5% over the forecast period
  • The Smart Sports Equipment Market has been characterized by high competition due to the presence of key players, including InfoMotion Sports Technologies; Golfsmith International Holdings, Inc.; DribbleUp, Inc.; Adidas AG; Wilson Sporting Goods; BABOLAT VS S.A.; HockeyShot Inc.; Riddell; Zepp Labs, Inc.; and Gridiron Technologies

Global smart sports equipment market share, by distribution channel, 2019 (%)

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Grand View Research has segmented the global smart sports equipment market on the basis of product, distribution channel, and region:

Smart Sports Equipment Market Segmentation

Smart Sports Equipment Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Balls
  • Golf Stick
  • Hockey Stick
  • Rackets & Bats
  • Others

Smart Sports Equipment Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)

  • Franchise Stores
  • Specialty Stores
  • Online

Smart Sports Equipment Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • U.S.
  • Europe
    • Germany
    • U.K.
  • Asia Pacific
    • China
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa

Key Topics Covered 

Table of Content

Chapter 1. Methodology and Scope
                     1.1. Market Segmentation & Scope
                     1.2. Market Definition
                     1.3. Information Procurement
                          1.3.1. Purchased Database
                          1.3.2. GVR’s Internal Database
                          1.3.3. Secondary Sources & Third-Party Perspectives
                          1.3.4. Primary Research
                     1.4. Information Analysis
                          1.4.1. Data Analysis Models
                     1.5. Market Formulation & Data Visualization
                     1.6. Data Validation & Publishing
Chapter 2. Executive Summary
                     2.1. Market Outlook
                     2.2. Segmental Outlook
                     2.3. Competitive Insights
Chapter 3. Smart Sports Equipment Market Variables, Trends & Scope
                     3.1. Market Introduction
                     3.2. Penetration & Growth Prospect Mapping
                     3.3. Industry Value Chain Analysis
                          3.3.1. Sales/Retail Channel Analysis
                          3.3.2. Profit Margin Analysis
                     3.4. Market Dynamics
                          3.4.1. Market Driver Analysis

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Smart Sports Equipment Market Segmentation


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