The Europe sports technology market is expected to grow at a CAGR of 17.04% from an estimated market size of US$6.025 billion in 2021 to reach US$18.129 billion in 2028.
Sports technology refers to the development and implementation of various technologies in the sports industry, aimed at enhancing the performance of athletes, improving fan engagement, and providing data-driven insights to teams, coaches, and broadcasters. Technology ranges from body techniques, via traditional sports outfits used by athletes within competitions, to performance-enhancing machines, substances, and styles used outside of the competitive setting. Any critical and methodical discussion of sports technology in competitive sports relates to some kind of interpretation of the main element of these practices’ athletic performance. Sports technology companies in Europe are at the forefront of innovation, developing products and services that are revolutionizing the sports industry.
Drivers:
The growing interest in esports will propel market development during the forecast period.
Esports relies heavily on technology, and gamers require high-performance gaming equipment, such as computers, and keyboards, among others, to compete at the highest level. This has led to a surge in demand for gaming-specific hardware, with companies such as Razer, Logitech, and Corsair developing gaming peripherals that are designed for esports. Esports events are often broadcasted live on streaming platforms such as Twitch and YouTube, and the demand for high-quality live streaming and broadcasting technology is growing rapidly. As a result, in 2020, Twitch launched Twitch Studio, a streaming software that is designed to make it easier for gamers to stream their gameplay. Additionally, in 2021, they launched the Twitch Preshow, a new feature that allows esports events to broadcast a pre-show before the main event, which helps to build hype and excitement among viewers.
The market is expected to surge in the coming years owing to increasing audience engagement, growth in the adoption of digital services and solutions, and a rise in the development of smart stadiums. Moreover, the accelerating popularity of soccer in the region is also expected to play a major role in the market growth. The region has also been introducing novel and advanced sports technology solutions, in the past few years. The concept of smart stadiums is widely adopted in the region owing to the ample number of key sports events taking place in several countries across the region. Moreover, the rising concerns about public safety have encouraged stadium owners to adopt emerging technologies.
Key Developments
Germany's sports technology market is expected to witness steady growth.
By country, the Europe sports technology market has been segmented into Germany, France, the UK, Spain, and others. One of the main drivers of growth in the sports technology market in Germany is the increasing adoption of wearable devices. The market for wearable devices such as fitness trackers, smartwatches, and smart clothing has experienced rapid growth in recent years. This trend is supported by the growing interest in health and fitness activities among the German population. In addition, advancements in technology have led to the development of more advanced wearable devices that offer greater functionality and accuracy. German-based companies such as Adidas and Puma have been leading the way in developing innovative sports technology solutions that help athletes optimize their performance and reduce the risk of injury. For example, Adidas has developed the miCoach system, which uses sensors to track an athlete's performance during training and provides feedback on areas for improvement.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2021 | US$6.025 billion |
| Market Size Value in 2028 | US$18.129 billion |
| Growth Rate | CAGR of 17.04% from 2021 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Type, Sport, and Countries |
| Regions Covered | Germany, France, UK, Spain, Others |
| Companies Covered | Ericsson, Adidas, Havas Sports & Entertainment, IBM, SAP SE, Nike, Fitbit, Oracle sports & entertainment |
| Customization Scope | Free report customization with purchase |
Segmentation: