…as More People Participate in Sports Activities
By Moiz Adenwala, Guest Columnist
The global market for smart sports has been expanding at a robust rate, majorly due to the nascent developments in the sports and fitness industry. Smart Sports market covers a wide array of products that help in tracking the health of sportspersons and giving an overview of their daily activities through useful metrics. Smart sports equipments are fitted with accelerometers and gyroscopes that help in tracking the movements of the user, measuring the heart rate, and estimating the amount of calories burnt on a daily basis. Since all of the aforementioned parameters are extremely vital for sportspersons to evaluate their progress, the demand within the global smart sports market has reached new heights in recent times. Furthermore, smart sports equipment can come in the form of smart watches or smart phone apps, and this further enhances the growth rate of the global smart sports market. A report added by Transparency Market Research (TMR) unravels a number of dynamics of the global market for smart sports, thus, creating growth spaces for market participants. The title of the report is “Smart Sports Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026”.
The sports and fitness industry has engulfed the interests of a large populace, and this has resulted in an increase in demand for all types of sports equipment. The global market for smart sports has also gained momentum due to the promotion of sophisticated sports products and style quotients. The media and advertising industry has been a vital tool for successful marketing of smart sports equipment, and the global market for the latter is projected to keep expanding in the years to come. A large chunk of the population has realised the importance of leading a healthy life which has persuaded them to take up various sports and fitness activities. This factor, along with the availability of advanced smart sports products, has given an impetus to the growth of the global market for smart sports. However, the market for smart sports is restrained by the low availability of sports accessories that are equipped with gyroscopes and accelerometers.
The sports and fitness industry in European countries such as England, France, Italy, and Germany has been tracing an ascending graph of growth. Owing to this factor, the market for smart sports in Europe has been expanding at a starry rate over the past decade. The market for smart sports in Asia Pacific is also expected to optimize its growth rate in the coming yearsSome of the key players in the global market for smart sports are Adidas AG, Amer Sports Corporation, Under Armour, Inc., QUATTRIUUM INC., and Callaway Golf Company. These key market vendors have been focused on producing durable products that can cater to all types of consumers.
About (TMR)
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