Automotive Infotainment Systems Market Worth $37.62 Billion By 2025

The global automotive infotainment market size is expected to reach USD 37.62 billion by 2025, according to a new study by Grand View Research, Inc. The increasing adoption of smartphones is anticipated to have a significant impact on the automotive entertainment industry, as they are the most prominently used connectivity gateways of an infotainment system.

The demand for enhanced driving experience is also predicted to drive the automotive entertainment systems industry over the forecast period. The increased focus on driver comfort and convenience has led to the development of various automotive infotainment systems, which offer innovative features such as voice control, Bluetooth connectivity, real-time traffic updates, and navigation information. These features provide comprehensive vehicle information to the driver and thereby, enhance safety and driving experience. However, these systems involve high costs of integration and are primarily integrated in premium and luxury vehicles. Inadequate infotainment security and privacy are predicted to hinder the growth of the automotive infotainment systems market.

The use of infotainment systems in commercial vehicles is mainly driven by the widespread adoption of navigation units. The implementation of navigation and communication units in a commercial vehicle has increased operational efficiency and enabled a reduction in response time during emergency situations. As commercial vehicles have high travel time, compared to passenger cars, improving safety and driver experience is very essential.

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Further key findings from the study suggest:

The communication unit dominated the product segment and was valued at USD 3.9 billion in 2016
The head-up display segment is expected to be the fastest-growing segment with an anticipated CAGR of 13.5% over the forecast period
The key success factor for various participants to gain traction in the automotive infotainment systems market is building cost-effective and driver-centric automotive infotainment systems
Automotive infotainment aftermarket products are cost-effective, as compared to OE fitted, and are much preferred by price sensitive consumers
The passenger car segment is expected to grow at the highest CAGR of 11.4% over the forecast period, owing to the growing trend of low-cost passenger cars
The Asia Pacific region is predicted to witness a CAGR of 11.3% during the forecast period, owing to the presence of prominent OEMs such as Hyundai Motor Company and Toyota Motor Corporation
The key participants of the industry include Continental AG, Harman International, Panasonic Corporation, Alpine Electronics, Inc., Denso Corporation, Pioneer Corporation, Visteon Corporation, Clarion Co., Ltd., Delphi Automotive PLC, and JVC KENWOOD Corporation

Hydroponics Market Size Worth $5.68 Billion By 2025

The global hydroponics market size is estimated to reach USD 5.68 billion by 2025, exhibiting a CAGR of 22.52% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The adoption of smart farming technologies, such as vertical farming, which has helped the evolution of hydroponics, is expected to spur the market growth. Continuous improvements in hydroponics technologies and the introduction of innovative, state-of-the-art technologies, including environmental and temperature sensing, remote growth monitoring, and automatic nutrient reading, is likely to fuel the demand.

Food production method in hydroponic plant system. Growing lettuce in greenhouse using mineral salt solution.

Based on type, the hydroponics market is segregated into aggregate systems and liquid systems. The aggregate systems segment is projected to continue holding the largest market share over the forecast period. The liquid systems segment is expected to expand at a high CAGR over the forecast period. Aggregate hydroponics farming encompassed multiple technologies, namely, drip, wick, and ebb and flow. Herein, the plants are grown with the presence of a medium such as rock wool, perlite, and others. It is essential for the farmers to choose the right kind of media for certain crops, as they vary in terms of pH and thickness, which may hinder the smooth growth of roots. However, the liquid systems eliminate the use of such media and provide the nutrients directly to the roots, reducing the time required for yield. Hence, the adoption of liquid systems, such as deep-water culture and Nutrient Film Technique (NFT) is expected to witness significant growth over the forecast period.

The primary crops cultivated through the hydroponics method are tomatoes, lettuce, cucumber, and herbs. The majority of indoor farmers use hydroponic systems to grow tomatoes. As a result, the tomatoes segment dominates the entire market in 2018 and is estimated to continue its dominance over the forecast period. Europe held the largest share of the hydroponically grown tomatoes market in 2018 owing to the high cultivation rate in the Netherlands and Italy. Rising demand for organically grown, pesticide-free, and highly nutritious vegetables is expected to drive the adoption of hydroponics for the cultivation of lettuce and other leafy vegetables along with other indoor farming techniques. Among all the leafy vegetables, green leaf lettuce is increasingly gaining popularity among the growers owing to its high consumption rate and worldwide demand. However, owing to the changing and favorable regulations pertaining to the growth of legalized marijuana, the cannabis farmers across the globe are increasingly adopting the hydroponic farming method.

The Asia Pacific held the largest market share in 2018, as countries such as China, South Korea, and Japan are finding lucrative opportunities in hydroponics farming to cater to the rising food demand. However, Europe is expected to register the fastest CAGR over the forecast period owing to the favorable government scenario regarding the development and adoption of alternative farming technologies.

AeroFarms (U.S.); AMHYDRO (U.S.); Argus Control Systems Limited (Canada); Emirates Hydroponics Farms (UAE); Freight Farms (U.S.); Green Sense Farms Holdings, Inc. (U.S.); Heliospectra AB (Sweden); LumiGrow (U.S.); Signify Holding (the Netherlands); and Terra Tech Corp (U.S.) are some of the eminent providers and vendors of hydroponic equipment and solutions. These companies, along with other local or global market players, continually emphasize geographic expansion and product development. They have realized the lucrative opportunities in the urban regions of developed countries, such as the U.S., China, the U.K., and Japan.

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https://www.grandviewresearch.com/industry-analysis/hydroponics-market

Further key findings from the report suggest:

Middle East, South America, and the Asia Pacific are anticipated to witness a lukewarm rise in terms of adoption of hydroponics, on account of lack of government incentives to set up the infrastructure
Increasing demand for cannabis for medical and recreational uses is expected to boost the adoption among indoor farmers from Canada, Georgia, South Africa, and other such countries
NFT in the liquid hydroponic systems is one of the highly adopted methods used by indoor farmers. However, state-of-the-art NFT technique is gaining more popularity amongst the growers
The Asia Pacific held the largest market share in 2018 owing to the substantial demand from countries, such as South Korea, China, India, and Hong Kong
European regional segment is likely to emerge as the prominent segment, holding the largest market share by 2025. The countries such as the Netherlands, Turkey, and Spain witness a high adoption rate of hydroponics
Mexico is projected to portray lucrative opportunities in near future, owing to the presence of market players, such as Hydroponic Systems, Cultura H, and General Hydroponics. Also, the drylands spread over 100 million hectares in the country restrict the agricultural expansion, driving the adoption of hydroponics and other vertical farming technologies

Connected Enterprise Market Size To Reach $1.94 Trillion By 2025

The global connected enterprise market size is expected to reach USD 1.94 trillion by 2025, according to a new report by Grand View Research, Inc. The increasing need for automation and the proliferation of connected devices is providing new growth avenues for the connected enterprise market.

Enterprises are moving toward digital technologies to transform their business operations, improve customer experiences, and rapidly respond to emerging threats and opportunities. Industry collaborations with connected technology are gaining prominence for improving agility, productivity, and business process management. Although the Internet-of-Things (IoT) and connected technologies are becoming adept, several organizations have not included their collaboration with smart technologies in business strategies.

The implementation of intelligent networks has improved the optimization of assets including equipment reliability, and energy usage, and has expanded the capacity of existing assets. Enterprises are integrating people, tools, processes, and platforms comprising infrastructure and applications to disrupt business productivity with next-generation solutions.

Moreover, organizations are looking for innovative ways to differentiate themselves from their competitors and overcome threats from new entrants. Connected solutions are increasingly adopted for generating new revenue streams and improving profit margins. These solutions help enterprises in increasing their operational efficiency by enabling real-time monitoring of assets. However, fragmented technology standards and growing security concerns are expected to deter industry growth.

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http://www.grandviewresearch.com/industry-analysis/connected-enterprise-market

Further key findings from the report suggest:

Customer experience management is expected to be the fastest-growing segment owing to its transition from being transactional to a more interactive and informative solution
The managed services segment is expected to grow at a CAGR of over 35% from 2016 to 2025. due to the increasing need for outsourcing IoT-related capabilities
The device management platform is anticipated to account for over 25% revenue share by 2025; the need to drive connected products assessment, reduce operational costs, and improve service quality is propelling the demand for a device management platform
The healthcare sector is expected to reach a valuation of over USD 150 billion by 2025 on account of its transition from providing provider-centric to patient-centric solutions
The Asia Pacific region is expected to be the fastest-growing regional market as the enterprises in the region are deploying connected infrastructure in new areas to improve their revenues.
The key industry players include IBM Corporation, Rockwell Automation, Inc., IBM Corporation, Honeywell International, Inc., and PTC Inc.

Distributed Acoustic Sensing Market Size Worth $775.8 Million By 2025

The global distributed acoustic sensing market size is expected to reach USD 775.8 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to exhibit a CAGR of 11.5% from 2019 to 2025. The use of fiber optic sensors is progressively increasing in the oil and gas industry since they provide a data-rich perspective on micro-seismicity and fracturing process. Also, with the increasing importance of border surveillance, distributed acoustic sensing systems are being highly used in the security and surveillance industry since they provide high-reliability and low-cost surface crossing and tunnel construction detection. Due to the high potential of intrusion detection, the adoption of DAS systems is growing in several asset protection-related applications, such as railways, high-value facility perimeters, and oil and gas pipelines.

The economic benefits of distributed acoustic sensing are anticipated to create growth opportunities for the market in the forthcoming years. The key drivers include the prevention of construction damages and pipeline thefts. DAS systems can perform the early detection of leakages, corrosion, erosion, and malicious third-party intrusion, which offer economic benefits to the industry. Also, they provide real-time monitoring of assets and perimeters, which provides improved security. Therefore, distributed acoustic sensors are used in various end-user industries for long-distance tracking of the acoustic signals generated by external interferences.

The Asia Pacific distributed acoustic sensing market is expected to witness substantial growth over the forecast period, owing to the emerging trends, such as increasing penetration of seismology. According to the U.S. Energy Information Administration, the region accounted for approximately 10% of the world’s crude oil production in 2018. China alone contributed approximately 5% of global crude oil production in the same year. Due to the presence of substantial oil and gas industries, the region is expected to demonstrate significant growth in distributed acoustic sensing shortly.

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https://www.grandviewresearch.com/industry-analysis/distributed-acoustic-sensing-market

Further key findings from the report suggest:

The significant surge in the deployment of optical fiber sensors in oil and gas industries will create a massive potential for the distributed acoustic sensing market
Market players are focusing on providing optical fiber acoustic sensors for wellbores, which offers long-distance data transmission for subsea and downhole
Key market players are considering partnerships and acquisitions of startups providing innovative products to expand their outreach in the market
The key competitors in the market are OptaSense; Halliburton; Schlumberger Limited; Baker Hughes, a GE Company LLC; Future Fibre Technologies; Northrop Grumman Corporation; Fotech Solutions Ltd.; Omnisens; Silixa Ltd; and Ziebel; among others

Active Electronic Components Market Size Worth $495.2 Billion By 2025

The global active electronic components market size is estimated to reach USD 495.2 billion by 2025, registering a CAGR of 9.6% from 2019 to 2025, according to a new study by Grand View Research, Inc. Growing demand for active electronics components for manufacturing smart home appliances such as refrigerators, air conditioners, and washing machines among others, is estimated to boost the market growth. Moreover, the anticipated adoption of active electronic components in networking devices and telecom equipment requisite for developing 5G infrastructure is further expected to elevate the growth.

Wearables such as smartwatches, Virtual Reality (VR) headsets, and fitness bands among others are gaining popularity among consumers. Consumers are increasingly willing to spend a significant amount on health and entertainment, which in turn it has accelerated the demand for wearable devices among consumers worldwide. This is further anticipated to increase the adoption of active electronic components in the coming years. In addition, voluminous patient data coupled with investments made by the governments and private players worldwide for setting up state-of-the-art healthcare facilities has augmented the adoption of high-tech medical equipment and connected devices. Thus, with rising demand for these devices, the demand for active electronic components is expected to surge globally over the forecast period.

Demand for connected cars is fast transforming the automotive industry. This has increased the use of advanced electronics in automotive for multiple applications, such as parking, safety, telematics, and navigation among others. Thus, growing demand for advanced electronics in automotive is expected to drive demand for active electronic components over the forecast period. Also, the rising demand for advanced microcontrollers or modems in order to provide robust connectivity to autonomous cars and other critical applications is further expected to surge the adoption of active electronics components from 2019 to 2025.

With the rising trend of industry 4.0, the adoption of the Internet of Things (IoT) devices in the manufacturing sector is gradually increasing worldwide. Key manufacturers are opting for new technologies to augment their overall productivity and operational efficiency in order to ensure profitability. Therefore, the rising adoption of IoT technology for smart manufacturing applications, such as machine-to-machine communication is estimated to augment the adoption of active electronic components over the forecast period. Furthermore, the escalating trade war between U.S. and China is anticipated to restrict the overall market growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/active-electronic-components-market

Further key findings from the study suggest:

The active electronic components market in India is anticipated to register a CAGR of 12.8%, attributed to the rising investments by prominent smartphone manufacturers in view of establish their own manufacturing facilities in the country
The Integrated Circuits (ICs) segment held a market size exceeding USD 80 billion in 2018, attributed to the robust increase in the demand for ICs integrated with state-of-the-art devices such smartphone, laptops, vehicle automation systems, and network devices among others
Significantly growing demand for active electronic components across next-generation devices such as 5G-enabled smartphones, gaming consoles, and other consumer electronics is estimated to fuel the consumer devices segment growth from 2019 to 2025
Several key market players are focusing on mergers and acquisitions in order to strengthen their market presence and expand their product portfolios
Prominent market players include Infineon Technologies AG; NXP Semiconductors NV; Texas Instruments Incorporated; Toshiba Corporation; STMicroelectronics; Semiconductor Components Industries, LLC; Intel Corporation; Maxim Integrated; Renesas Electronics Corporation; Broadcom Inc.; Qualcomm Inc.; Analog Devices, Inc.; Advanced Micro Devices; Microchip Technology Inc.; and Monolithic Power Systems Inc.

U.S. CRM Market Size Worth $64.2 Billion By 2025

The U.S. customer relationship management market size is expected to reach USD 64.2 billion by 2025, registering a CAGR of 14.0% from 2019 to 2025, according to a new report by Grand View Research, Inc. CRM solutions with data-driven insights offer enhanced functionality apart from their traditional role of information gathering, activity tracking, and passive data repository generation. Therefore, these solutions enable companies to analyze buying behavior of customers and simultaneously provide relevant information to augment their sales efforts. Hence, business and organization of all sizes are investing heavily in customer relationship management solutions.

There is a growing demand for these solutions from small and medium sized business. This is likely to present promising growth opportunities for customer relationship management solutions based on software-as-a-service (SaaS) and on-demand models in the U.S. market. This is owing to the fact that these models can minimize the need for upgrading or investing in new hardware infrastructure and can consecutively bring down maintenance and support costs. Presence of major CRM solution providers in the country is also a major factor that drives the adoption of customer relationship management solutions over the forecast period.

CRM software has already gained significant attention from various industries due to its changing nature in terms of growing functionalities and feature set. CRM suites also offer the capability to measure business performance and keep a track of sales trajectory, which have been some of the key factors encouraging businesses to use them. The U.S. market is also witnessing significant growth in cross-sales to existing customers with installed base (in terms of add-ons and upgrades).

Presently, large customer relationship management solution providers such as Salesforce.com, SAP SE, Oracle Corporation, and Microsoft Corporation dominate the U.S. customer relationship management market and have focused on augmenting their collective market share in the U.S. Other key players are trying to access the market by offering identical CRM solutions at a competitive price. This has led to a notable rise in intensity of competition across all sub-segments in the U.S. market.

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https://www.grandviewresearch.com/industry-analysis/us-customer-relationship-management-crm-market

Further key findings from the study suggest:

Cloud deployment has been the dominant segment since 2018 and is likely to witness more traction in the upcoming years owing to rising preference and increased awareness regarding its benefits in terms of cost and flexibility
Large enterprises have been at the forefront in deploying cloud-based CRM solutions for their businesses, which is resulting in effective customer engagement. SMEs in the U.S. market are also deploying customer relationship management solutions to improve business processes, which is likely to result in high revenue generation
Some of the key participants in the market are Salesforce.com; SAP SE; Zoho; Oracle Corp; Nimble; SugarCRM Inc.; and Verint Systems Inc.

Aerospace and Defense Springs Market Worth $377.7 Million By 2025

The global aerospace and defense springs market size is expected to reach USD 377.7 million by 2025 and register a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for commercial aircraft owing to increasing passenger traffic is expected to fuel the market growth. Furthermore, increasing need for fighter jets due to growing security concerns of the nations and increasing border conflicts among Asian countries is also expected to boost the growth of the market over the forecast period.

Springs are small but a crucial part in almost all the major aerospace equipment and some of their major applications are engine controls, aircraft cabin parts, landing mechanism, flow control nozzles, and fuel filtering systems. On the basis of type, the market is segmented into flat spiral/power; coil; and torsion, torque coil, and clutch. Each spring has its own specific design and application, for instance, constant force flat springs are used to help deploy and retract the main entry door, stairs, and cargo doors while torsion springs are used in rocker switches of the aircraft.

Springs improve the performance of the equipment and also help reduce wear and tear of the system. They play an important role in efficient working of the equipment, leading to fuel saving and also facilitate easy operations of many components, especially where space is a constraint. This becomes an important factor in the aerospace and defense sector, where a lot of technological devices are to be fitted in less space.

Equipment used in the aerospace sector should have the ability to endure harsh environments. They need components that are durable and sturdy, and require minimal replacements, upgradation, or maintenance, while being highly precise in dimensions. Springs are highly resistant to pressure, require less maintenance, and have longer work life, which is why they are widely used in aerospace antennas, radar, probes, and satellites that help in navigation and are crucial for the ground service teams.

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https://www.grandviewresearch.com/industry-analysis/aerospace-defense-springs-market

Further key findings from the study suggest:

The market is anticipated to reach USD 377.7 million by 2025 and witness a CAGR of 5.2% on account of increasing demand for commercial aircraft and fighter jet
By type, coil springs segment is anticipated to witness high CAGR over the forecast period ascribing to its application in wide range of components in aerospace and defense sector
Asia Pacific is anticipated to witness high CAGR over the forecast period owing to expanding aerospace sector and MRO facilities in the region
The aerospace and defense springs market is fragmented in nature and is dominated by companies such as, Argo Spring Manufacturing Co., Inc.; M. Coil Spring Manufacturing Company; Myers Spring Co. Inc.; Ace Wire Spring & Form Co., Inc.

Big Data as a Service Market Size Worth $51.9 Billion By 2025

The global big data as a service (BDaaS) market is estimated to reach USD 51.9 billion by 2025, registering a CAGR of 38.7% over the forecast period, according to a new study by Grand View Research, Inc. The combination of big data analytics technologies and cloud computing platforms has led to the development of Big Data as a Service or BDaaS. BDaaS offers analyses of large and complex datasets over the Internet or as cloud-hosted services. The increasing requirement of structured data for analyses, which helps organizations achieve targets, coupled with the growing number of social media platforms and users accessing accessible multimedia content on the Internet, such as videos, audio, and text, are anticipated to drive the market growth over the forecast period.

Data-Driven Decision Making (DDDM) helps in addressing the problem of unstructured data analysis and enables organizations to make more informed decisions with transparency and accountability. It also offers increased capacity to scale changes and flexibility in modeling change scenarios, among others. For instance, Google has created a People Analytics Department that supports the organization in making decisions with fact-based data. In this department, Google has created a group called Information Lab, which includes social scientists who conduct innovative research that has changed the organizational practice within the company.

The growing adoption of social media analytics in BDaaS to monitor consumer preferences and offer personalization insights is anticipated to propel market growth over the forecast period. Moreover, the increasing importance of sentiment analysis has also encouraged enterprises to integrate social media into their business processes. This has resulted in a large amount of data being stored by organizations, which in turn, is expected to propel market growth over the forecast period.

Key market players are focusing on mergers & acquisitions to enhance their regional presence and target new customers across the globe. However, increasing privacy concerns coupled with the rapidly rising purchase costs and costs for installation, deployment, and maintenance may hamper the market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/big-data-as-a-service-bdaas-market

Further key findings from the study suggest:

The global market is anticipated to witness substantial growth owing to the increasing requirement of structured data for analysis and long-term data retention over the forecast period
The hybrid cloud segment is expected to register a CAGR exceeding 40% over the forecast period owing to benefits it provides in terms of cost efficiency, scalability, flexibility, and security
Hadoop-as-a-Service emerged as the dominant segment in 2018 owing to the large number of companies frequently accessing virtual storage and analysis of data on the cloud across the globe
North America captured a significant share in the global BDaaS market owing to the increasing government funding to support big data projects in the U.S. and high penetration of e-commerce in the region
The APAC market is estimated to showcase significant growth over the forecast period owing to the high rate of penetration of smartphones and internet users in Brazil and Mexico
Key market players operating in the Big Data as a Service market, including Amazon Inc., IBM Corporation, and Dell Inc., are focused on expanding their market presence and targeting new customers through mergers and acquisitions.

Geospatial Analytics Market Size Worth $134.48 Billion By 2025

The global geospatial analytics market size is expected to reach USD 134,479.7 million by 2025, registering a CAGR of 15.0% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Numerous innovations and advancements in the drone technology and increasing deployment of Unmanned Aerial Vehicles (UAVs) for remotely monitoring and gathering a large number of location data with minimal human intervention are likely to unfold new opportunities for market growth. Additionally, the increasing use of GPS-enabled smartphones and devices is also anticipated to drive market growth.

Increasing smart city initiatives have resulted in the growing need for innovative technologies for use in 3D urban mapping; monitoring and mapping natural resources, agriculture, and utilities; and disaster management. In case of natural disasters, location-based analytics enables decision makers to take suitable actions. Moreover, major oil & gas companies across the globe are increasingly deploying geospatial analytics solutions to discover potential crude oil and natural gas deposits and to monitor their vast pipeline network.

The use of geospatial technologies in the automotive industry is increasing owing to the growing safety concerns among passengers. According to data released by the U.S. Census Bureau, about 85.7 percent of the U.S. employees above 16 years of age commute to work in a van, car, or truck, either by driving alone or via carpooling. With around 125 million people traveling by road every day, the U.S. transportation system faces numerous challenges such as congested highways and fatal vehicle collisions.

As per the National Highway Traffic Safety Administration, it is estimated that on an average, 102 people die from vehicle accidents every day. In an attempt to address this, automotive manufacturers are focusing on implementing technologies such as IoT and location-based services in vehicles to make driving safer and easier. The commercialization of upcoming autonomous vehicles also heavily relies on the integration of Geographic Information Science (GIS) and advanced geospatial technology.

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https://www.grandviewresearch.com/industry-analysis/geospatial-analytics-market

Further key findings from the study suggest:

The service segment is anticipated to emerge as the fastest-growing component segment over the forecast period owing to the increasing demand for deployment, training, and support services by government and public safety agencies
The network & location analytics segment is anticipated to gain traction owing to the increasing use of network & location analytics systems by companies for analyzing buying behavior and foot traffic patterns as well as for studying behavior patterns in a brick-and-mortar environment
The military intelligence application segment is expected to witness the highest growth over the forecast period owing to the rising adoption of UAVs and increasing number of remote sensing satellites
Asia Pacific is expected to register the highest CAGR from 2019 to 2025. Numerous smart city initiatives such as the ASEAN Smart Cities Initiative are anticipated to fuel the demand for geospatial analytics software in the region
Key players operating in the geospatial analytics market include Alteryx, Inc., DigitalGlobe, Fugro N.V., Hexagon AB, RMSI, SAP SE, Trimble Inc., Maxar Technologies Inc., MapLarge, Harris Corporation, Bentley Systems Incorporated, ESRI, General Electric Company, Oracle Corporation, and Google LLC.

Sports Technology Market Size Worth $34.99 Billion By 2025

The global sports technology market size is expected to reach USD 34.99 billion by 2025, growing at a CAGR of 20.3% over the forecast period, according to a study conducted by Grand View Research, Inc. The growing adoption of IoT technologies, coupled with the integration of social media with stadium technologies, and the need for real-time player statistics are the key factors driving the market growth over the forecast period. Additionally, upcoming international and national sports events and substantial enhancements in spectators engagement are expected to surge the demand for sports technology.

Stadiums across developed and emerging economies are being renovated to offer facilities such as better smart parking, operational efficiency, enhanced security, and next-generation viewing experience. Currently, Artificial Intelligence (AI)-based sports analytics is of key importance while developing strategies for boosting individual performance, scouting new talent, and reducing injuries. Moreover, the increasing focus on delighting & engaging fans at the stadium and growing demand for data-driven decisions & operations are also expected to influence the market growth. Additionally, the U.S. Supreme Court has legalized sports betting, which is expected to positively influence the market growth.

The growth of the European region can be attributed to the increasing disposable income and rising demand for wearable devices in emerging economies such as Russia, Poland, Greece, and Turkey. The emergence of professional leagues, digitalization of sports, and increasing penetration of internet & cloud technology are driving the Asia Pacific market growth. Moreover, sports organizations, including New Zealand Cricket, Indian Premier League (IPL), Sahara Force India, and Melbourne Cricket Association, are using advanced technologies for hosting tournaments.

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https://www.grandviewresearch.com/industry-analysis/sports-technology-market

Further key findings from the study suggest:

The smart stadium segment is expected to dominate the market by 2025 owing to the increasing construction of smart stadiums across emerging economies
The basketball segment is projected to register a CAGR of 21.0% from 2019 to 2025 as market players are focused on developing new ways to integrate wearable technologies in basketball games
The Asia Pacific regional market is estimated to register a CAGR of 23.0% over the forecast period owing to growth in social media analytics, IoT, internet adoption, and smart devices
The prominent market players include IBM Corporation; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; SAP SE, among others.