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Smart Sports Equipment Market Share

Report ID: GMI10518
Published Date: Jul 2024
Report Format: PDF

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Smart Sports Equipment Market Share

Key players in the market are focusing on innovation and technological advancements to enhance product functionality and user experience. Many companies are investing in research and development to integrate AI and machine learning capabilities for personalized training solutions and real-time analytics. Strategic partnerships and collaborations with fitness brands and tech firms are being pursued to expand market reach and develop comprehensive product ecosystems. Emphasizing sustainability, players are increasingly adopting eco-friendly materials and practices in their product lines. Additionally, effective marketing strategies that highlight the health benefits and technological features of smart equipment are crucial for attracting and retaining consumers.

Smart Sports Equipment Market Companies

Major players operating in the smart sports equipment industry are:

Gridiron Technologies
Fitbit, Inc.
Garmin Ltd.
Apple Inc.
Samsung Electronics Co., Ltd.
Under Armour, Inc.
Nike, Inc.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The smart sports equipment industry was valued at USD 2.85 billion in 2023 and is anticipated to grow at a CAGR of over 8% between 2024 & 2032, owing to the growing awareness and emphasis on health & fitness among consumers.

The smart balls segment of market is expected to reach a value of over USD 1.9 billion by 2032, as they have advanced sensors and technology that track performance metrics like speed, spin, and trajectory, helping athletes make data-driven improvements.

North America dominated the global smart sports equipment market in 2023, accounting for a share of over 35%, backed by the partnerships between tech companies and sports brands, enhancing the availability and diversity of equipment.

Gridiron Technologies, Fitbit, Inc., Garmin Ltd., Apple Inc., Samsung Electronics Co., Ltd., Under Armour, Inc., and Nike, Inc.