Wearable Devices in Sports Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 100 Pages
The Wearable Devices in Sports Market is expected to grow at a CAGR of 9.82% over the forecast period (2021-2026). The wearable technology and devices market is unfolding at a rapid pace, with the industry going towards a focal point business are prioritizing service enhancement, apart from adding additional new features to the device itself. Wearable devices have remained a significant part of the sports industry, supporting the athlete to stick to daily routines and giving important information on various parameters it is programmed to control. Integration of analytics tools for better evaluating and analyzing this data to improve the performance or handling overall personal fitness has sustained the need for wearable devices in the sports industry.
Smart Clothing Set to be a Significant Contributing Factor Towards the Growth of the Market
Smart clothing/textiles are fabrics that are manufactured and designed to integrate technologies that offer the wearer with increased functionality. These textiles have various potential applications, such as the ability to communicate with other devices, conduct energy, transform into other materials and protect the wearer from environmental hazards. Increasing R&D towards wearable textile-based personal systems allowing, e.g., health monitoring, protection, and safety, and healthy lifestyle gained strong interest over the last few years.
Smart fabrics and interactive textiles activities include personal sports management through integration, validation, and use of smart clothing and other networked mobile devices as well as projects targeting the integration of sensors/actuators, energy sources, processing and communication within the clothes to enable personal applications such as safety/ protection, emergency.
North America to Provide Significant Opportunities
Internet and cloud technology penetration, the emergence of professional leagues, and digitalization of sports are driving the adoption of sports technology in North America, especially in the US.
Wearables are already popular in the US soccer culture. The US Soccer athletes have been wearing them while playing for many years. companies like STATSports and Catapult Sports, which are popular in the GPS tracking space have been greatly benefitted by these trends.
The recent activity among the professional teams across almost all popular sports prompts a strong share of Wearable devices for the Sports market. For instance, in March 2018, the United States Soccer Federation (US Soccer) partnered with STATSports for their on-field performance monitoring devices, in an effort to improve data collection and player development.
The wearable devices in the sports market are moderately competitive and mostly comprises of startups. Several sports wear-brands that have entered the market. For instance, Adidas, a popular sports-wear brand developed a sports platform and apps, miCoach. The company, however, shut down its business after acquiring Runtastic, an Austrian mobile fitness company.
With the increasing importance on performance and rising levels of competition in the sporting industry, the market is poised to witness strong growth over and beyond the forecast period. Overall, the market provides significant opportunities for technology companies that target the niche (sports) in the large wearables market.
June 2018 - Fujitsu expanded its sports analytics business in Japan through RUN.EDGE-a Fujitsu subsidiary established through a company split.
July 2019 - Catapult and ShotTracker announced a new partnership to develop an integration that will allow the delivery of Catapult's performance and workload-based data, with ShotTracker's 70+ unique tactical statistics, through a single workflow. with this integrated technolgy, the companies aim to to deliver real-time statistics and analytics to teams, fans and broadcast networks for professional and collegiate basketball teams.