The global smart sports equipment market size is expected to reach USD 5.44 Billion in 2030 and register a revenue CAGR of 9.2% from 2020 to 2030. The increasing penetration of smart devices and the rapid growth in the sports industry are playing a significant role in promoting the adoption of smart sports equipment globally. Increasing demand for smart running shoes, fitness trackers, and other smart sports equipment is projected to fuel the growth of the smart sports equipment market. Technological advancements, growing awareness of the benefits of physical activity, and the popularity of connected devices are some of the other factors driving market growth.
The adoption of smart sports equipment is growing among professional athletes and fitness enthusiasts alike. These gadgets not only help in tracking fitness goals and progress, but also provide real-time feedback and guidance. This is helping to improve the overall performance of users. In addition, the introduction of new products with advanced features is further boosting market growth.
However, high costs associated with smart sports equipment and lack of awareness among consumers are some of the factors restraining market growth. Nevertheless, increasing partnerships between technology companies and sports organizations are creating new opportunities in the market.
Increasing consumer preference for latest technologies in sports equipment and fitness gadgets is projected to fuel the demand for smart sports equipment during the forecast period. The market is bifurcated into three categories, including fitness and wellness, outdoor, and indoor, based on application. Among these, the fitness and wellness segment accounted for a major share of the global market in 2015 and is anticipated to grow at a rapid pace during the forecast period. This is owing to the growing health awareness among people and their willingness to invest in fitness and wellness activities, which has resulted in the increased demand for smart sports equipment. In addition, government initiatives toward fitness are also projected to propel the growth of this segment during the forecast period.
The Asia-Pacific region is projected to be the fastest-growing market for smart sports equipment during the forecast period. This is owing to the growing fitness consciousness among people and their willingness to spend on fitness activities in this region.
Smart golf sticks segment is anticipated to grow at a significant CAGR over the forecast period. With the technological advances in the field of golf, various manufacturers have come up with advanced features in their golf sticks. Some of these features include GPS tracking, swing analysis, and performance metrics. The use of such innovative features is expected to enhance the user experience and attract more consumers towards smart golf sticks. This, in turn, is projected to propel the growth of the smart golf sticks market over the forecast period.
North America smart sports equipment market is projected to grow at a CAGR of close to 32% during the forecast period. The US and Canada are expected to be the major markets in this region. The sports equipment market in North America has been growing at a rapid pace due to the increasing number of health-conscious individuals and the need for better performance tracking. The region has a large number of professional and amateur sports teams, which is driving the demand for smart sports equipment. The US is the largest market for smart sports equipment in North America owing to the presence of a large number of key players in the country.
In December 2021, PUMA SE acquired COALITION, a company that owns the direct-to-consumer (D2C) platform Runtastic, for an undisclosed amount. This move would help PUMA SE to expand its foothold in the sports lifestyle category and also boost its digital capabilities.
In November 2019, adidas AG announced the acquisition of Carbon38, a luxury activewear brand, for an undisclosed amount. This move would help adidas AG to expand its activewear product portfolio and also strengthen its presence in North America.
In September 2019, Nike Inc. announced the launch of the Nike Adapt BB 2.0, a power-lacing basketball sneaker. The sneaker is equipped with LED lights and has an updated FitAdapt app. This launch would help Nike to strengthen its position in the basketball category.
In May 2019, Under Armour Inc. announced a partnership with MapMyFitness, a fitness tracking app, which would allow users to connect their MapMyFitness account with their Under Armour account. This partnership would help Under Armour Inc. to expand its customer base and also improve its position in the fitness tracking category.
The adoption of smart sports equipment is growing among professional athletes and fitness enthusiasts alike. These gadgets not only help in tracking fitness goals and progress, but also provide real-time feedback and guidance. This is helping to improve the overall performance of users. In addition, the introduction of new products with advanced features is further boosting market growth.
However, high costs associated with smart sports equipment and lack of awareness among consumers are some of the factors restraining market growth. Nevertheless, increasing partnerships between technology companies and sports organizations are creating new opportunities in the market.
Increasing consumer preference for latest technologies in sports equipment and fitness gadgets is projected to fuel the demand for smart sports equipment during the forecast period. The market is bifurcated into three categories, including fitness and wellness, outdoor, and indoor, based on application. Among these, the fitness and wellness segment accounted for a major share of the global market in 2015 and is anticipated to grow at a rapid pace during the forecast period. This is owing to the growing health awareness among people and their willingness to invest in fitness and wellness activities, which has resulted in the increased demand for smart sports equipment. In addition, government initiatives toward fitness are also projected to propel the growth of this segment during the forecast period.
Some Key Highlights in the Report:
The Asia-Pacific region is projected to be the fastest-growing market for smart sports equipment during the forecast period. This is owing to the growing fitness consciousness among people and their willingness to spend on fitness activities in this region.
Smart golf sticks segment is anticipated to grow at a significant CAGR over the forecast period. With the technological advances in the field of golf, various manufacturers have come up with advanced features in their golf sticks. Some of these features include GPS tracking, swing analysis, and performance metrics. The use of such innovative features is expected to enhance the user experience and attract more consumers towards smart golf sticks. This, in turn, is projected to propel the growth of the smart golf sticks market over the forecast period.
North America smart sports equipment market is projected to grow at a CAGR of close to 32% during the forecast period. The US and Canada are expected to be the major markets in this region. The sports equipment market in North America has been growing at a rapid pace due to the increasing number of health-conscious individuals and the need for better performance tracking. The region has a large number of professional and amateur sports teams, which is driving the demand for smart sports equipment. The US is the largest market for smart sports equipment in North America owing to the presence of a large number of key players in the country.
In December 2021, PUMA SE acquired COALITION, a company that owns the direct-to-consumer (D2C) platform Runtastic, for an undisclosed amount. This move would help PUMA SE to expand its foothold in the sports lifestyle category and also boost its digital capabilities.
In November 2019, adidas AG announced the acquisition of Carbon38, a luxury activewear brand, for an undisclosed amount. This move would help adidas AG to expand its activewear product portfolio and also strengthen its presence in North America.
In September 2019, Nike Inc. announced the launch of the Nike Adapt BB 2.0, a power-lacing basketball sneaker. The sneaker is equipped with LED lights and has an updated FitAdapt app. This launch would help Nike to strengthen its position in the basketball category.
In May 2019, Under Armour Inc. announced a partnership with MapMyFitness, a fitness tracking app, which would allow users to connect their MapMyFitness account with their Under Armour account. This partnership would help Under Armour Inc. to expand its customer base and also improve its position in the fitness tracking category.
The following are the key driving factors for the growth of the smart sports equipment market:
- Increasing focus on fitness and well-being among individuals
- Rapid growth in the sports industry globally
- Technological advancements in smart sports equipment
- Increased investment by major players in the development of smart sports equipment
- Increasing adoption of smart sports equipment by major sports organizations
- Partnership and collaboration between sports equipment manufacturers and technology providers
For this report, the publisher has segmented the global smart sports equipment market based on product type, distribution channel, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2030)
- Smart Hockey Sticks
- Smart Golf Sticks
- Smart Rackets & Bats
- Smart Balls
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2030)
- Franchise Stores
- Specialty Stores
- Others
End-use Outlook (Revenue, USD Billion; 2018-2030)
- Men
- Women
Regional Outlook (Revenue, USD Billion; 2018-2030)
North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Smart Sports Equipment Market Segmentation & Impact Analysis
Chapter 5. Smart Sports Equipment Market By Product Type Insights & Trends
Chapter 6. Smart Sports Equipment Market By Distribution Channel Insights & Trends
Chapter 7. Smart Sports Equipment Market By End-use Insights & Trends
8.1. Smart Sports Equipment Market Share By Region, 2018 & 2030
8.3.8. Italy
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- NIKE Inc.
- PUMA SE
- Adidas AG
- Golfsmith International Holdings Inc.
- Wilson Sporting Goods Company
- BABOLAT Vs S.A.
- Riddell Inc.
- HockeyShot Inc.
- ZeppLabs Inc.
- Gridiron Technologies LLC
