Smart Sports Equipment Market Size

Smart Sports Equipment Market size was valued at USD 2.67 billion in 2023 and is poised to grow from USD 2.95 billion in 2024 to USD 6.45 billion by 2032, growing at a CAGR of 10.3% during the forecast period (2025-2032).

The growing demand for real-time performance analytics is a major driver in the smart sports equipment market. Athletes, coaches, and fitness enthusiasts seek instant data on movement, biomechanics, and heart rate monitoring to enhance performance and prevent injuries.

The global smart sports equipment market is experiencing rapid growth, driven by increasing consumer demand for performance analytics, injury prevention, and immersive sports experiences. Smart sports equipment utilizes integrated sensors, IoT, AI-driven analytics, and wireless connectivity to transform ordinary sporting gear into data-driven tools for the athletes and the fitness enthusiast. Some of these innovations are found within the equipment, such as smart rackets and golf clubs, smart balls and helmets, smart shoes, smart bands for fitness, and wearables, which present real-time performance tracking and biomechanical feedback and tailored training insights. The connected fitness ecosystem, digital coaching platforms, and AI sports analytics have also been important factors in smart sports equipment adoption among the communities of amateur and professional sports enthusiasts.

Expansions in the market are more due to growing wearable technology penetrations, fitness-conscious consumers requiring data-driven insights into optimizing their performance and health, and a more integrated aspect of AR and VR in training programs that help develop interactive experiences of sports. Brands are increasingly investing in AI-powered coaching tools and virtual training simulations to connect the user in immersive environments.

Another important trend is the emergence of esports and gamification in sports technology, which culminates in smart equipment containing embedded motion-tracking sensors and biometric monitoring. Such tools enhance athletes' performance; they also appeal to a younger audience seeking efficient, even playful modes of training. Integration of blockchain and NFT-based authentication into sports gear has also provided access to securing athlete data as well as authenticity in the market for sports memorabilia.

Improvement in cloud-based analytics and enhanced 5G connectivity has further made real-time data delivery and predictive insights feasible. This is very useful for sports professionals and teams, who need instant feedback and remote capabilities of coaching. The market is also seeing an increase in investment in smart gyms and connected fitness solutions with AI-driven workout recommendation based on their performance metrics.

In July 2024, French sports retailer, Decathlon announced a strategic expansion by the acquisition of specialized sports brands to reinforce its market presence. The company is looking at innovative firms struggling with market conditions. This was recently echoed through the acquisition of German climbing retailer Bergfreunde. It also launched a division called Decathlon Pulse for high-end sports products beyond the core offerings of the company. The efforts will propel the innovation of the product, improve market reach, and enhance smart sports equipment access. Within 4-5 years, this expansion of Decathlon will create a new dynamic in the competition and will catalyze new technological development related to connected gear in sports.

Sales at the parent of Arc'teryx, Salomon, and Wilson surged on surging demand in China for outdoors activities like hiking and biking during November 2024. Given the consumer is spending more in Greater China on smart sports gear, performance apparel, and connected fitness devices, the company continues to post impressive revenue growth there. This trend has more to do with the transition toward smart outdoor equipment, encompassing AI-driven analytics and IoT-enabled wearables. Over the next 4-5 years, this trend will drive new innovations in the areas of sensor-based sports gear and immersive digital training experiences shaping the future for the market in smart sports equipment.

In October 2024, Altor, a Swedish private equity firm, said it would buy a majority stake in CCM Hockey, a Canadian sports equipment brand founded in 1899. CCM is famous for its hockey products used by NHL stars such as Auston Matthews, Sidney Crosby, and Connor McDavid. The company has changed hands several times, having been acquired by Reebok in 2004 and then sold to Adidas in 2006. An investment from Altor is bound to strengthen and grow CCM Hockey by offering it an increasing presence in present and new markets. The acquisition, to be consummated by year-end, fits a growing trend of private equity investments in the sports sector, which can reap very attractive returns, following recent policy changes by major sports leagues including the NFL allowing such investments.

In September 2022, the global smart sports equipment market is witnessing a growing penetration of smart devices and the rapid growth in the sports industry is contributing significantly to the promotion of the adoption of smart sports equipment worldwide. Increasing demand for smart running shoes, fitness trackers, and other smart sports equipment is projected to fuel the growth of the smart sports equipment market. Technological advancements, growing awareness of the benefits of physical activity, and the popularity of connected devices are some of the other factors driving market growth.