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Global Smart Sports Equipment Market Report 2022

New York, July 6. 2022 (GLOBE NEWSWIRE) — Announces Release of “Smarts Sports Equipment Global Market Report 2022” –
Gridiron Technologies, MIZUNO Corporation, Amer Sports, Under Armor Inc., InfoMotion Sports Technologies, DribbleUp Inc., BRG Sports, EGYM Inc., Kinexon GmbH, Spektacom Technologies Pvt Ltd, STATSports Group Ltd., Callaway Golf Company, QUATTRIUUM INC. , and game of golf.

The global smart sports equipment market is expected to grow from $3.46 billion in 2021 to $3.74 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The smart sports equipment market is expected to reach $5.17 billion in 2026 with a CAGR of 8.4%.

The smart sports equipment market includes sales of smart sports equipment products by entities (organizations, independent marketers, and partnerships) that are used to analyze player performance on the field. Smart sports equipment goes beyond simple metric tracking, like calories burned or steps taken, to provide more accurate fitness and performance insights.

The main types of products in the smart sports equipment market are smart balls, smart golf clubs, smart hockey sticks, smart rackets and bats, and other products. Smart balls are a type of smart balls with an implanted electronic chip.

They are created by integrating smart technologies such as IoT and data analytics into sports equipment. Smart sports equipment has connectivity features such as smartphone synchronization, wireless synchronization and real-time data synchronization.

These products are distributed through franchise stores, specialty stores and other stores. Smart sports equipment is used by end users such as men and women.

North America was the largest region in the smart sports equipment market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.

Regions covered in the Smart Sports Equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Smart Sports Equipment Market research report is one of a series of new reports that provides Smart Sports Equipment market statistics, including the global Smart Sports Equipment industry market size, regional shares, competitors holding smart sports equipment market share, detailed segments of the smart sports equipment market. , market trends and opportunities, and any other data you may require to thrive in the Smart Sports Equipment industry. This Smart Sports Equipment Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Growing demand for data-driven analytics of sports activities is expected to propel the growth of the smart sports equipment market. the player’s performance on the field or in a team as a whole.

Professional team coaches can use data science to build hyper-personalized athlete matches and other plans for every match they play and can also identify and analyze player errors by observing collected data by their sports equipment. With these new modern sports accessories, players can overcome their challenges in every training session or game by studying the data and being efficient.

According to Forbes, an American business magazine, sports analytics is expected to generate more than $4 billion in revenue by 2022 as it helps several sports organizations and players in various ways. Hence, the growing demand for data-driven sports activity analysis is driving the growth of smart sports equipment.

As the smart sports equipment market grows, new trends are emerging in the industry to keep up with the technological advancements surrounding the market. One of these new developments is the StanceBeam Striker developed by an Indian technology company StancceBeam in November 2019.

The StanceBeam Striker is a sensor that attaches to the top of any cricket bat and functions as the brain of the smart bat. The 3D sensor is compatible with iOS and Android versions of the Stance Beam APP ecosystem.

The device’s smart motion sensors provide a proven collection of data, including 3D swing analysis, power index produced by bat speed, and shot efficiency.

In August 2021, Authentic Brands Group (ABG), an American brand management company, acquired Reebok from Adidas for up to $2.5 billion. The deal allows ABG to integrate an iconic sports brand like Reebok into its ever-expanding sports product portfolio, helping to enhance its athletics equipment and merchandise division. Reebok’s headquarters will remain in Boston and the company’s operations in North and Latin America, Asia Pacific, Europe and Russia will continue. Reebok is a US-based sporting goods manufacturer that also manufactures smart sports equipment such as smartwatches.

The countries covered in the Smart Sports Equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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