Smart Sports Equipment Market Outlook - 2026
The global smart sports equipment market size is expected to be valued at $12.0 billion by 2026, registering a CAGR of 7.9% from 2019 to 2026. Smart sports equipment are those sports equipment that are digitally connected with sensors and allow sports persons or athletes to monitor, track, analyze, and improve their performance. There are various smart sports equipment available in the market. These include smart basketball, smart footballs, smart rackets, smart golf stick, smart helmet, and others. The adoption of IOT in various sports equipment such as watersports, tennis, basketball, football, and more enables users to get new and advance features, which are not available with the traditional sport equipment. For instance, smart balls that allow users to detect and track analytics regarding the flight path, spin, and speed of the ball and provide this information to users via smartphones. A sport person cannot get these features and benefits by using a traditional sports equipment .Thus, this factor drives the growth of the smart sports equipment market.
Smart sports equipment such as smart helmet, smart sports wearables, and others offer athletes safety as they help in tracking heart rate and protect them from injuries. These features help increase their demand among the coaches and sport persons thus contributing in fostering the growth of the smart sports equipment market. However, the low penetration of smart sports equipment in the region such as LAMEA and Asia-Pacific is anticipated to hamper the growth of the smart sports equipment market in the future.
The global smart sports equipment market is segmented on the basis of product type, end user, distribution channel, and region. Based on type, it is classified into smart balls, smart golf sticks, smart hockey sticks, smart rackets & bats, and others. By end user, the market is bifurcated into men and women. By distribution channel, the market is divided into specialty stores, franchise stores, and online stores. Based on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
By Product Type
Smart Golf Stick Segment Dominates The Global Smart Sports Equipment Market And Is Expected To Retain Its Dominance Throughout The Forecast Period.
Based on type, it is classified into smart balls, smart golf stick, smart hockey sticks, smart rackets & bats, and others. In 2018, smart golf stick segment was the leading smart sports equipment market. This was due to the continuous innovation & application of IOT in golf equipment and its rising popularity among the users. For instance, M-Tracer MT500GII Golf Swing Analyzer mounted on club’s grip, detects and provides accurate swing analysis to the users. It also shows clubhead speed, swing path, and even the club face’s angle at the time of impact. Thus, making it popular among the users over traditional sports equipment.
By End User
WoMen End User SegMent Is Projected To Grow With Fastest CAGR During The Forecast Period
Based on end user, the market is categorized into men and women. In 2018, men was the leading segment in the global market. Although, both men and women are actively participating in sports but the percentage of participation is still slightly different. According to the European Union, the participation of men in sports either as professional athletes, professional coach, or as a school sports trainer is comparatively more than women, which is 55% and 45% respectively.
By Distribution Channel
Specialty Stores segment is expected to grow at a highest CAGR of 8.3% during the forecast period.
By distribution channel, Franchise stores was the largest market for smart sports equipment market in 2018.This is because smart sports equipment are niche products and their manufacturers mostly have their own franchise stores for selling their products as compared to specialty stores or online stores.
By Region
North America dominates the Global Smart Sports Equipment market and is expected to grow with a CAGR of 7.5% during the forecast period
By region, North America was the largest market for smart sports equipment in 2018 due to high internet penetration in this region accounting for 7.4% out of the total internet users across the world. Moreover, the continuous increase in the sports participation in North American countries such as the U.S. which increased from 18.4% in 2014 to 19.5 in 2015 every year. This is expected to increase the demand for sports equipment among the users. This fact is anticipated to create a good opportunity for the in the upcoming years in such countries.
Some of the major players in the global smart sports equipment industry analyzed in this report include NIKE, Inc., Golfsmith International Holdings, Inc., PUMA SE, Adidas AG, Wilson Sporting Goods, BABOLAT VS S.A., HockeyShot Inc., Riddell, Zepp Labs, Inc. and Gridiron Technologies.
Key Benefits for Smart Sports Equipment Market:
- This report provides a quantitative analysis of the current smart sports equipment market segment, trends, estimations, and dynamics of the global smart sports equipment market forecast from 2019 to 2026 to identify the prevailing opportunity.
- The key countries in all the major regions are mapped based on their smart sports equipment market size.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- A comprehensive analysis of factors that drive and restrict the smart sports equipment market growth is provided.
- An in-depth smart sports equipment market analysis of the global market helps determine the prevailing market opportunities.
- The report includes details of the analysis of the regional and global markets, key players, smart sports equipment market share, application areas, and growth strategies.
Smart Sports Equipment Market Report Highlights
| Aspects | Details |
 By Product Type |
|
 By End User |
|
 By Distribution Channel |
|
 By Region |
|
 Key Market Players | Zepp Labs, Inc., NIKE, Inc., PUMA SE, Wilson Sporting Goods, Golfsmith International Holdings, Inc, HockeyShot Inc., Riddell, BABOLAT VS S.A., Adidas AG, Gridiron Technologies |
Analyst Review
The market players have adopted key developmental strategies such as new product launch to fuel the growth of the smart sports equipment market. They also emphasize on continuous innovation in their product to keep a strong foothold in the market and to boost the demand for smart sports equipment.
According to the key market players, the adoption of IoT in sports equipment enables these equipment to offer advance functions like tracking and monitoring players’ performance, and keeping player safe from getting injured while playing. These smart equipment also offer virtual coaching system to the users and suggest them on how to improve their techniques. All these unique functional attributes offered by smart sport equipment are not offered by traditional sport equipment. Thus, all these factors promotes the use of smart sports equipment among the users.
Key market players in this market adopt new product launch by using new technologies such as IoT and continuous innovation in their product to give their customers a better experience as well as to increase their revenue & footprint. The trend of using IoT in every industry and now also in sports may change the way a team operates. It may also change the way of their training, measuring performance, time engagement as well as creating a personalized sports kit for users to get a better experience. This fact is expected to drive the market in terms of value sales.
Low penetration and premium price faced by the manufacturers hamper the growth of the smart sports equipment market.
The forecast period of Smart Sports Equipment market report is from 2019 to 2026.
The Smart Sports Equipment market was valued at $7.0 billion in 2019
The report covers detailed profiling of key companies operating in the market include NIKE, Inc., Golfsmith International Holdings, Inc., PUMA SE, Adidas AG, Wilson Sporting Goods, BABOLAT VS S.A., among others
Top companies holding significant market share are NIKE, Inc., PUMA SE, Adidas AG, Wilson Sporting Goods, BABOLAT VS S.A., etc.
Specialty Stores segment of the report is expected to growth at a healthy CAGR during the forecast period
Specialty Stores and online sales channel segments are the most influencing segments of Smart Sports Equipment market
Functional attributes offered by smart sports equipment has increases their demand among the athletes and coaches which has driven the growth of the smart sports equipment market.
Smart Golf Stick segment holds maximum revenue share in Smart Sports Equipment market in 2019.
Loading Table Of Content...
