Market
Sports Technology Market to Reach $25.70 Billion by 2030 – Exclusive Report by Meticulous Research®
According to a new market research report titled, ‘Sports Technology Market by Offering (Wearables, Digital Signages, Cameras, Smart Stumps & Bails, Snicko/Edge Detector, VAR, Sports NFT, Tracking Systems, Sports Analytics), Technology, Sport, End User, and Geography – Global Forecast to 2030’, the sports technology market is projected to reach $25.70 billion by 2030, at a CAGR of 26.2% during the forecast period 2023–2030.
The growth of the sports technology market is driven by the increasing adoption of fan engagement technologies, increasing investments in sports data analytics, athlete tech, and performance optimization, in-venue technology, gambling & gaming, and recovery health and home fitness, increasing number of sports events, and growing demand for data-driven decisions and operations.
The increasing emergence of sports leagues & events with large prize pools and the increasing adoption of AR/VR for creating near-perfect training environments are some of the factors which are expected to offer significant growth opportunities for players operating in the sports technology market.
However, very minimal monetization opportunities, difficulty in mining athletic performance data for generating easily understandable insights, and high risk of cybersecurity concerns may hinder the growth of this market. Complexity in integrating new technologies with older systems or applications, slow cultural change in sports, and lack of time-efficient solutions for cleaning and manipulating siloed data are some of the major challenges faced by the players operating in the sports technology market.
Furthermore, the increasing use of generative AI, NFT ticketing and streamlining sports events ticket buying & selling process, and the use of predictive analysis software helping teams & coaches make better decisions are the latest trends in the sports technology market.
Increasing Adoption of Fan Engagement Technologies to Drive Market Growth
Technology is strengthening the bond fans have with their favorite teams and athletes—allowing sports clubs and associations to create deeper, more meaningful connections that are easier to maintain from a distance. Fan engagement has evolved from shouting slogans from the stands to making an impact using digital tools. Sports leagues and clubs worldwide, such as Australian Open, the English Premier League, Formula One, the Rugby Union World Cup, FIFA, ICC, etc., are actively looking for ways to engage with their fans and create a competitive advantage by providing demographics like millennials and Gen Z a highly personalized experience from brands they engage with while being on the go.
According to the Sports Fan Engagement Marketing Report (2018) by Gameplan Insights and Magid Associates, about 60% of sports fans are willing to spend more on experiences with their favorite teams and athletes. Using data analytics, UX researchers, and other research techniques, sports clubs and associations increasingly try to gather insights about their fans before providing the right experience. By collecting data and leveraging technologies like AI and machine learning, sports clubs and leagues map out audience journeys, understand behaviors, and deliver insights supporting fan engagement. For instance, in the context of a starting quarterback for an NFL team, data analytics can reveal how many of their fans are dedicated followers who attend games and buy merchandise. It can also show how the number of people following them changes over time, which helps to identify new fans.
Sports technology is increasingly used for improving the live experience of sports. Using data analytics, and video-based AI technologies, sports brands can create a more engaging experience for their fans. For instance, the baseball team The San Francisco Giants created a virtual reality experience allowing their fans to see how it feels like a batter swinging his bat or a pitcher throwing that ball. Sports fans love to experience things in new and exciting ways, and emerging technologies provide the platform to deliver new experiences.
Based on offering, in 2023, the sports analytics segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to the increasing availability of large amounts of in-field data, growing demand for real-time data access on player performance, need for analytics solutions for analyzing complex in-field data streams, and availability of cost-effective and advanced computing solutions supported by cloud computing.
Based on technology, in 2023, the big data segment is expected to account for the largest share of the sports technology market. The large share of this segment is driven by the availability of advanced technologies such as multicore processors, high-performance databases, and data compression technology, paving the way for new and dedicated applications of big data for sports. Beyond sports performance analysis, clubs, leagues, media companies, and sponsors utilize big data to study fans’ preferences and behaviors, seeking to expand their reach and market penetration.
Based on sport, in 2023, the ball sports segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to increasing applications of various sports technologies to boost sporting quality, improving business performance in the football industry, intense commercialization of football, creating new revenue-generating opportunities, enhancement of players’ and teams’ performance, and improve match officiating to identify and minimize mistakes that went unnoticed earlier in the game.
Based on end user, in 2023, the sports clubs segment is expected to account for the largest share of the sports technology market. Sports clubs are increasingly utilizing advanced technologies for boosting participation and improving communication between players, club officials, as well as additional elements like event planning, team management, financial operations, health and safety records, etc.; use of online platforms and applications for getting updates of players availability for matches and training sessions helping administrators and coaches who work for the club to quickly access this information and organize team sheets and arrangements; and improvement in team performance using sports analytics to gather and analyze vital data on players’ and teams’ performance using sensors, cameras, and other specialist equipment, helping coaches better understand how a player performs.
Based on geography, in 2023, Europe is expected to account for the largest share of the sports technology market. The large share of this region is attributed to the presence of many reputed and big football clubs in the region. Big clubs in Europe are increasingly using data-driven approaches provided by sports technologies to scout for potentially interesting players. Coaches and scouts in the top football clubs in the Europe region rely on advanced sports technologies to make the most informed personnel choices, keep their players in top condition, and get complete holistic views of a player’s capabilities, including detailed information to create individual training & recovery programs and analyze details such as ball handling time, ball speeds & trajectories in real-time.
The key players operating in the sports technology market are Apple Inc. (U.S.), Bellabeat, Inc. U.S.), ChyronHego Corporation (U.S.), SAP SE (German), Misfit, Inc. (U.S.), Catapult Group International Ltd (Australia), Garmin Ltd. (U.S.), PlaySight Interactive LTD. (Israel), Sportradar AG (Switzerland), Fan Three Sixty, LLC (U.S.), Performa Sports Ltd. (Ireland), Pro Football Focus (U.S.), DDSports, Inc. (ShotTracker) (U.S.), Sensor Holdings Limited (StretchSense) (New Zealand), Samsung Electronics Co., Ltd. (South Korea).
Scope of the Report
Sports Technology Market Assessment, by Offering
- Wearables
- Fitness & Heartrate Monitor
- AR/VR Headsets
- Smart Clothing
- Smart Patches
- Hearables
- GPS Trackers
- Contactless Biosensors
- Smart Footwear & Insoles
- Other Devices
- Digital Signages
- Cameras
- Spider Cams
- Drones
- Other Cameras
- Smart Stumps & Bails
- Snicko/Edge Detectors
- Video Assistance Referee
- Sports NFTs
- Tracking Systems
- Sports Analytics
- Player Health & Performance Analytics
- Team Performance Analytics
- Video Analytics
- Player Valuation
- Team Strategy
- Sports Betting
- Others
Sports Technology Market Assessment, by Technology
- Artificial Intelligence
- Neuroscience
- Nanotechnology
- Blockchain
- Virtual Reality
- IoT
- 3D Visuals & Simulations
- Big Data
- Other Technologies
Sports Technology Market Assessment, by Sport
- Bat & Ball Sports
- Cricket
- Baseball
- Golf
- Hockey
- Table Tennis
- Ball Sports
- Soccer/Football
- Basketball
- American Football/Rugby
- Volleyball
- Racket Sports
- Tennis
- Badminton
- Squash
- Other Racket Sports
- Racing Sports
- Formula F1
- Moto GP
- Nascar
- Drag Racing
- Rallies
- Cycling
- Other Racing
- Track & Field Sports
- Water Sports
- Adventure Sports
- Combat Sports
- Other Sports
Sports Technology Market Assessment, by End User
- Sports Clubs
- Sports Associations
- Athletes & Coaches
- Sports Leagues
Sports Technology Market Assessment, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Argentina
- Uruguay
- Rest of Latin America
- Middle East & Africa
- Iran
- Saudi Arabia
- Qatar
- UAE
- Rest of Middle East & Africa
Canada
Game On: Global Online Bingo Gambling Market Size Is Set to Surpass USD 145.43 Billion by 2030 | Forecasting the Tremendous Expansion
Zion Market Research has published a new research report titled “Online Bingo Gambling Market By End-User (Social Exuberant, Gambling Enthusiasts, And Others), By Device (Mobile And Desktop), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Online Bingo Gambling Market size & share in terms of revenue was valued at USD 60.01 billion in 2022 and it is expected to surpass around USD 145.43 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 11.70% during the forecast period 2023 to 2030.”
What is Online Bingo Gambling? How big is the Online Bingo Gambling Industry?
Report Overview:
The global online bingo gambling market size was worth around USD 60.01 billion in 2022 and is predicted to grow to around USD 145.43 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.701% between 2023 and 2030.
The online bingo gambling industry encompasses several online platforms and services that offer online bingo games for real money transactions. It involves provisions and space for virtual bingo games, where players can participate in a digital format from their computers, smartphones, or other internet-enabled devices. There are several bingo gambling variations present in the industry including 75-ball bingo, 90-ball bingo, and other variants. This involves the players purchasing virtual bingo tickets or cards and marking off the numbers when called, aiming to achieve the winning pattern before anyone else in the virtual room. Online bingo operators provide the technological infrastructure, software platforms, and user interfaces necessary for players to participate in the games. They also offer secure payment processing measures, promotional incentives, and customer support.
Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 224+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Zion Market Research research methodology
Global Online Bingo Gambling Market: Growth Factors
The global online bingo gambling market is projected to grow owing to the convenience and accessibility related to these games. Players have access to the games all day and 7 days a week. They can play the games from anywhere including their homes, while traveling, or during any other activity. Furthermore, online bingo gambling is a form of social interaction since most of these platforms incorporate chat features that allow players to interact with one another. This social aspect of virtual gaming has proven to be effective in attracting more consumers to the market since it creates a sense of belonging and fosters a more engaging experience.
The online bingo gambling industry is also expected to benefit from the several varieties of gaming options available on the internet. This includes different themes, patterns, and prize structures and hence becomes more lucrative to a wider range of audience. The introduction of innovative features, such as progressive jackpots and bonus games, has also contributed to the market growth. Online bingo gambling sites provide attractive bonuses and promotions to retain more players. This includes sign-up bonuses, free bingo tickets, cashback offers, and loyalty rewards which may not be available in physical bingo gambling centers.
The global online bingo gambling industry is expected to witness certain growth restrictions owing to the growing competition from other online gambling activities. Furthermore, like any other such activity, online bingo gambling also poses a threat of addiction and the problems that arise due to it. Some individuals may develop addictive behavior and struggle to control their habits. Additionally, online gambling requires the presence of a robust and secure technological infrastructure and events such as server outages, software glitches, or cybersecurity threats could damage market reputation.
Mobile gaming may provide growth opportunities while competition and saturation could challenge market growth.
Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 60.01 billion |
| Projected Market Size in 2030 | USD 145.43 billion |
| CAGR Growth Rate | 11.70% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | 888 Holdings, Kindred Group, Bet365, GVC Holdings, Gamesys Group, Jackpotjoy, Mecca Bingo, Foxy Bingo, Gala Bingo, Tombola, Paddy Power, Ladbrokes, William Hill, Unibet, Playtech, Microgaming, Virtue Fusion, Jumpman Gaming, Rank Group, Stride Gaming, Daub Alderney, Bwin, Stars Group, Dragonfish, and Relax Gaming amongst many others. |
| Key Segment | By End-User, By Device, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Online Bingo Gambling Market: Segmentation Analysis
The global online bingo gambling market is segmented based on end-user, device, and region.
Based on end-user, the global market segments are social exuberant, gambling enthusiasts, and others. The industry witnessed the highest growth in the gambling enthusiasts segment. They are people who showcase an extreme passion for different forms of gambling. They tend to enjoy the thrill of taking risks, the competitive aspect of the game, and the potential monetary rewards. Social exuberant are people who enjoy participating in online bingo gambling activities due to community engagement prospects. They primarily enjoy interacting with other players present in the chat rooms and building higher connections with them. They tend to prioritize the social experience over the monetary aspect of gambling. The last category includes people who are casual players, occasional gamblers, and individuals seeking entertainment or relaxation. The total gambling market in Europe was close to 81 billion euros in 2020 as per Statista.
Based on device, the global online bingo gambling market is divided into mobile and desktop. The former segment registered the highest growth in 2022 due to the growing population that is attracted to mobile platforms due to several reasons. For instance, many people use smartphones and tablets to play these games as they offer ease of use. They are portable devices and can be used on the go. Players can access their favorite bingo games anytime and anywhere, allowing for greater flexibility and accessibility. These platforms also offer features like touch-screen controls and intuitive interfaces that enhance the gaming experience. The desktop segment is also crucial to industry growth as there is a significant share of consumers who use these tools to play the game. A recent report stated that nearly 80.1% of all online gamblers use mobile phones for these services.
The global Online Bingo Gambling market is segmented as follows:
By End-User
- Social Exuberant
- Gambling Enthusiasts
- Others
By Device
- Mobile
- Desktop
Competitive Landscape
Some of the main competitors dominating the global Online Bingo Gambling market include –
- 888 Holdings
- Kindred Group
- Bet365
- GVC Holdings
- Gamesys Group
- Jackpotjoy
- Mecca Bingo
- Foxy Bingo
- Gala Bingo
- Tombola
- Paddy Power
- Ladbrokes
- William Hill
- Unibet
- Playtech
- Microgaming
- Virtue Fusion
- Jumpman Gaming
- Rank Group
- Stride Gaming
- Daub Alderney
- Bwin
- Stars Group
- Dragonfish
- Relax Gaming
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Online Bingo Gambling market is likely to expand at a CAGR of around 11.70% during the forecast period (2023-2030).
- In terms of revenue, the Online Bingo Gambling market size was valued at around US$ 60.01 billion in 2022 and is projected to reach US$ 145.43 billion by 2030.
- The online bingo gambling market is projected to grow at a significant rate due to the increasing internet access.
- Based on end-user segmentation, gambling enthusiasts were predicted to show maximum market share in the year 2022.
- Based on device segmentation, mobile was the leading device in 2022.
- On the basis of region, Europe was the leading revenue generator in 2022.
Key questions answered in this report:
- What is the market size and growth rate forecast for Online Bingo Gambling industry?
- What are the main driving factors propelling the Online Bingo Gambling Market forward?
- What are the leading companies in the Online Bingo Gambling Industry?
- What segments does the Online Bingo Gambling Market cover?
- How can I receive a free copy of the Online Bingo Gambling Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By End-User, By Device, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)
Regional Analysis:
Europe is expected to generate the highest growth in the global online bingo gambling market due to the favorable government regulations surrounding the access and consumption of such portals. Furthermore, there are several players present in the regional industry especially in the United Kingdom. They have adopted strategic marketing and advertising activities to ensure the retention of a higher number of players. Since these portals offer lucrative money-winning opportunities by just playing the games remotely, more people are attracted to online bingo gambling as the game is also considered to be less difficult as compared to other gambling events.
In North America and especially the US, every state has specific laws in terms of online gambling and Canada seems to be more permissive allowing more market player entry. Cultural preferences and social dynamics influence the online bingo market in different Asian countries.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
-
- In April 2022, Focus reported that the Indian state of Telangana was rethinking its 2017 ban on online gambling since the regional authorities think that it can be a significant source of employment in the region
- In April 2023, Buzz Bingo announced the launch of an online website for its casino. For this move, the company has partnered with Playtech
- In December 2021, BetMGM launched Borgata Bingo online in the state of New Jersey giving players access to 75-ball real money online bingo product
-
Baltics4 weeks agoLithuania’s Nese enters iGaming with a record sponsorship deal
-
Latest News7 days agoThe Importance of Data Quality Review Checks in the Gaming Industry
-
Asia2 weeks agoOnlyplay Enters into Strategic Partnership with Ritchie Rabbit
-
Africa4 weeks ago
BMM Testlabs Continues Its Expansion in Africa with New Licenses in Botswana and Nigeria to Test Land-Based and Digital Products
-
Africa4 weeks ago
KingMakers’ Nigerian operating business, BetKing, selects Genius Sports to power growth with in-play trading services
-
Conferences in Europe4 weeks agoAltenar becomes General Sponsor of EEGS 2024
-
EurAsia4 weeks agoFastex Forges Partnership with Olympionic Foundation to Boost Sports Development in Armenia
-
Compliance Updates4 weeks agoBooming Games secures Romanian B2B license
