Increasing Demand for Process Efficiency in Sports Stokes Growth in Smart Sports Devices and Equipment (SSDE) Market

Published On : 19 Nov 2018

The popularity of fitness-based wearable devices is growing rampantly in recent times, which is key indicator that the world of sports is becoming more tech-savvy. Moreover, with increasing application of equipment in various sports in order to improve gaming performances, the need for smart devices is increasing by the day. In addition, rising health concerns with respect to the condition of a person’s body coupled with a surge in heat congestion, obesity, and other healthcare factors has led to the existence of a distinct smart sports devices and equipment market.

An extensively increasing onus on developing sports, athletics, adventure-based activities, and other similar scenarios is majorly boosting growth in the global smart sports devices and equipment market. This is mainly due to the fact that smart devices offer a lot of advantages such over traditionally used instruments. These products are mainly designed to provide utmost precision, efficiency, and accuracy, thereby gaining a lot of demand

Moreover, renowned players are improving their customer reach, carrying out attractive marketing strategies, and launching new products on a regular basis. Such factors too are propelling rampant growth in the global smart sports devices and equipment market. A key trend associated with the market involves players undertaking promotional events in a highly innovative manner. With equipment showcasing the presence of latest features and technological support frequently introduced by well-known players, the global smart sports devices and equipment market is expected to expand at a tremendous pace in the near future.

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This market depicts the presence of a substantially fragmented vendor landscape mainly due to the presence of innumerable players. A high degree of competition exists mainly due to most companies vying to achieve the top spot by manufacturing high quality smart devices and equipment along with associated products.

However, high costs needed to manufacture these products might make it difficult for those having less disposable income from buying them. Moreover, these equipment and products might not be readily available in remote and underdeveloped regions, thereby restraining the market from a regional perspective. Nonetheless, several players are regulating costs of their manufactured devices in order to expand their reach and increase the number of consumers. This could offset most restraints affecting the global smart sports devices and equipment market.

Most players are participating in important mergers & acquisitions, partnerships, and collaborations. They are also improving their distribution channels in order to enhance their presence in the global smart sports devices and equipment market. Moreover, numerous players are attempting to improve their product quality, enhance their geographical reach, by bettering their product portfolios. They are also facilitating product differentiation in order make their own identity in this sector. Fitbit, Garmin, Huawei, Samsung, Sony, Apple, Nike, and Motorola, are key companies operating in the global smart sports devices and equipment market.

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