Asset management has penetrated the sports industry wherein sports bodies are incorporating real time location systems (RTLS) for asset tracking which is significantly increasing the revenues for the vendors providing services pertaining to RTLS in sports market that is poised to bear an impressive market size of $2,038.09 million by the end of 2024 as the incorporation of RTLS in sports market will be augmenting at a remarkable compound annual growth rate (CAGR) 16.1% during the forecast period of 2018 to 2024, according to a market intelligence report compiled by IndustryARC’s analyst.
RTLS in sports market research report is comprised of facts, figures, and statistics that will help to fathom the market conditions along with the geographical study that provides insights about the pricing environment in all the regions across the globe. It also contains challenges and emerging opportunities that are foreseen to sustain the RTLS market in sports industry. The report by IndustryARC is titled, “Real Time Location Systems in Sports (RTLS) Market: By Component (Tags, Software, Sensors, Others); By Technology (Active RFID, Passive RFID, Bluetooth, GPS, Ultra Wideband, Others); By Application (Player Training Tracking, In-game Player Tracking, and Asset Tracking); & By Geography - Forecast (2018-2024).”
RTLS in Sports Market: Leading Segments
According to the geographical analysis done by the market analyst, Americas had the maximum market share of $484.9 million in 2017. This is predominantly because of the robust economy that enables sports organization to invest heavily in technologies such as RTLS. Furthermore, the leagues such as National Football League and others are supporting the application of RTLS in sports market. The RTLS market in sports industry is also picking pace in European countries due to the prevalent demand for asset tracking systems.
The RTLS in sports market is segmented on the basis of types of technology used which include active RFID and passive RFID/UHF. Active RFID offers a higher range than the passive ones, and therefore, they are preferred by the sports organizations. Despite their high prices, the organizations install active RFID RTLS which increases the revenues generated from the segment. The application of active RFID RTLS in sports market is projected to grow at a superlative CAGR of 16.90% through to 2024.
Inculcation of RTLS in Sports Market: Trends and Growth Drivers
- The Increasing Usage of Wearable Devices in Sports Sector –
Fitness is an integral part of sports, and sports units across the globe are emphasizing on the usage of wearable devices in order to measure the aspects pertaining to health and fitness such as acceleration, running speed, football carry-time, and endurance limit. The wearable technology has made data gathering, reliability, and navigation easier in sports industry.
- The Falling Prices of RTLS –
Even though the prices for the application of RTLS in sports market is high, it is decreasing due to which sports organizations and other end-users are projected to adopt the technology. This will lead to an expanded customer-base which will further flourish the application of RTLS in the sports market.
- The Exuded Use of Software in Sports –
Various sports are using a different kind of sports for analysis. Software come with different kind of facilities such as alert notification, geospatial aspects, and APIs which is integrated with RTLS in order to gather location analytics and impact of locations on other factors.
RTLS Market in Sports: Competitive Landscape
Some of the key companies identified in the RTLS market intelligence report that are striving to capitalize on the demand influx are Zebra Technologies, Catapult Sports, Quuppa, Statsports, ChyronHego, and others.
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