Thursday, April 25, 2024

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Market of Sports Technology to reach $31.1 Billion worth by the year 2024

MarketsandMarketsTM  have published an exclusive report predicting that influence of technology in sports is growing faster than now and all things considered, the market will be worth around 31.1 billion US dollars by the end of year 2024.

The report called  “Sports Technology Market by Technology (Device, Smart Stadium, Esports, Sports Analytics), Sports (Soccer, Baseball, Basketball, Ice Hockey, American Football/ Rugby, Tennis, Cricket, Golf, Esports), and Geography – Global Forecast to 2024” is based on different aspects of the market considering how sports technology has successfully raised a number of businesses and brands to new heights of success.

As of today, the market of sports technology is worth roughly around 8.9 billion US dollars but the rate of growth is exponential as this market has been predicted to triple in size in just five years. The expected Compound Annual Rate of Growth is projected around 20.63% in this given time frame.

Smart wearables for fitness and sports have been one of the major segments of this ever-growing market. They have seen the most rapid success as well as the highest share in this market for last few years now. All thanks to the rise in demand set in motion by increasing standards of competitiveness in all professional sports.

The report can be requested here at

All garments and wearables can be integrated with some kinds of sensors or trackers to let the athletes microanalyze their performances and work on whatever shortcomings they are facing in their pursuit of being at the highest of levels. Electronic sports and gaming market have also made an impact around the world with some of the biggest sponsorships, advertisements and investments and this all is projected to bring a lot more to the table by the year 2024. All the giant sports technology brands have teamed up with a number of top-level professional sports tournaments and leagues for the success of this market of great value.

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