Sports Broadcasting Technology Global Market Report 2024

The sports broadcasting technology market size has grown strongly in recent years. It will grow from $71.27 billion in 2023 to $76.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The expansion observed in the historical period can be attributed to several factors, including the rise of internet and digital streaming platforms, advancements in camera technology enabling enhanced coverage of sporting events, the emergence of satellite broadcasting for wider reach, the integration of augmented reality (AR) to enrich viewer experiences, and the increasing popularity of mobile viewing and second-screen experiences among audiences.

The sports broadcasting technology market size is expected to see strong growth in the next few years. It will grow to $101.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The projected growth in the forecast period can be attributed to several key factors, including the widespread adoption of 5G technology, advancements in artificial intelligence (AI) and machine learning, the integration of virtual reality (VR) and mixed reality (MR) technologies, the delivery of personalized and interactive content, and the incorporation of wearable technology into sports broadcasting. Major trends expected in the forecast period encompass the proliferation of immersive viewing experiences, the emergence of 5G-powered broadcasting for enhanced connectivity and coverage, the utilization of artificial intelligence (AI) in production processes to streamline workflows and improve content quality, the use of data analytics and visualization techniques to gain insights into viewer preferences and behavior, and the adoption of cloud-based workflows to enable flexible and scalable broadcasting operations.

The surge in on-demand streaming services is anticipated to drive the expansion of the sports broadcasting technology market in the coming years. On-demand streaming services, also referred to as video-on-demand (VOD) platforms, offer users a diverse array of multimedia content, ranging from movies and TV shows to documentaries and original programming, accessible at their convenience. The growing preference for streaming services is attributed to factors such as cost-effectiveness compared to traditional TV, easy accessibility, a wide variety of original content, and user convenience. Sports broadcasting technology plays a crucial role in streaming services, facilitating the delivery of live sports events, highlights, and analysis while efficiently transmitting high-quality video streams over the internet to ensure smooth playback and minimize buffering. According to the Motion Picture Association, subscribers to on-demand streaming services witnessed a 14% increase from 2020, reaching 1.3 billion in 2021, underscoring the significant impact of the rise in on-demand streaming services on the sports broadcasting technology market.

Key players in the sports broadcasting technology market are actively developing cutting-edge solutions, such as sports cloud platforms, to bolster their market presence. The Sports Cloud Platform offers an immersive and interactive environment for sports enthusiasts, leveraging technology to enhance overall enjoyment and engagement during sporting events. For instance, in November 2023, Tech Mahindra collaborated with Amazon Web Services, Inc. (AWS) to launch the Sports Cloud Platform, designed to provide sports fans with an enriched and personalized experience. Powered by real-time analytics, artificial intelligence (AI), machine learning (ML), augmented reality or virtual reality (AR/VR), and Web 3 technologies, this platform enhances the digital capabilities of sports leagues, franchises, and organizations, offering fans a more engaging and customized viewing experience.

In February 2024, Crionet Group bolstered its presence in the sports tech sector by acquiring a majority stake in Live Graphic Systems (LIGR) for an undisclosed sum. This strategic acquisition positions Crionet Group as a significant player in the sports technology landscape, expanding its product offerings and strengthening its foothold in the sports and media industries. Live Graphic Systems (LIGR), headquartered in Australia, specializes in providing live graphics and broadcast management software, aligning with Crionet Group's objectives of growth and innovation in the sports broadcasting technology market.

Major companies operating in the sports broadcasting technology market are IBM Corporation, Orange S.A., NBC Universal Media LLC, Warner Bros. Discovery Inc., NEC Corporation, ESPN Sports Media Ltd., Fox Corporation, Rohde & Schwarz GmbH & Co KG, Belden Inc., NEP Group Inc., AvL Technologies Inc., Viaplay Group AB, Sportradar AG, SKY Network Television Ltd, Evertz Microsystems Ltd., Deltatre Limited, beIN MEDIA GROUP, Supersport, Global Invacom Group, VSN Video Stream Networks S.L., Muvi One, Staige GmbH, OMB Broadcast, Hangzhou HAOXUN Technologies Co. Ltd., EasyBroadcast.

North America was the largest region in the sports broadcasting technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports broadcasting technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the sports broadcasting technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Sports broadcasting technology encompasses a range of equipment and techniques utilized to capture, produce, and distribute live or recorded sports content to audiences across television, radio, internet streaming, and other broadcasting platforms. The primary objective of sports broadcasting technology is to provide sports fans worldwide with high-quality, immersive viewing experiences, enabling them to enjoy live events with enhanced clarity, detail, and interactivity.

The primary components of the sports broadcasting technology market consist of solutions and services. Solutions refer to specific products, methods, or techniques crafted to address particular challenges or fulfill specific requirements within sports broadcasting. These solutions encompass various technologies, including analog and digital, utilized across platforms such as OTT (over-the-top), radio, and television. The diverse end users of sports broadcasting technology include broadcasters, studios, content developers, and distributors.

The sports broadcasting technology market research report is one of a series of new reports that provides sports broadcasting technology market statistics, including the sports broadcasting technology industry global market size, regional shares, competitors with a sports broadcasting technology market share, detailed sports broadcasting technology market segments, market trends and opportunities, and any further data you may need to thrive in the sports broadcasting technology industry. This sports broadcasting technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sports broadcasting technology market consist of revenues earned by providing data and analytics services, fan engagement solutions, and production services. The market value includes the value of related goods sold by the service provider or included within the service offering The sports broadcasting technology market also includes of sales of audio equipment, replay systems, and content management systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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