Ranked: Top Companies in Sports Tech, 2023

Technology has infiltrated nearly every area of our lives in this rapidly evolving world, and the sports world is no outlier. Sports tech, a combination of sports and technology, has developed into a prospering business. It includes a wide variety of inventions that are intended to augment athlete performance, involve spectators, and improve coaching tactics.

As per the most recent report from the CEOWORLD executive council, the total value of the worldwide sports tech industry was estimated to be $14.72 billion in 2023 and is expected to swell to an estimated $55.14 billion by 2030 with a compound annual growth rate (CAGR) of 20.8 percent. Particularly noteworthy was Europe’s contribution in 2022, at 30 percent of all revenues. The Middle East is poised for substantial growth, with a projected CAGR of 21 percent, driven by sports tourism and event hosting.

The post-pandemic era has opened up a potential to foster healthier habits, with Apple Inc. at the forefront of such endeavors. The Apple Watch, Apple Fitness+, and Apple Health App have provided customers with the capacity to make decisions based on current data. Their most recent product, the Apple Watch Ultra, is designed for serious athletes.

Leading technology giants like Samsung Electronics Co., Ltd., Apple Inc., and Cisco Systems, Inc. are at the forefront of developing innovative sports tech solutions and products. Sports tech also addresses community building and mental health concerns, as exemplified by platforms like SportsEngine, tailored for youth sports programs and related content. 

This list of the top 15 global sports tech companies and startups has been created with data from reliable sources, taking into account market cap and funding. It highlights the ever-shifting nature of the sports tech industry, a collaboration between tech giants and startups, that is driving the future of sports and technology. The top 15 sports tech companies are as follows:

1. Apple Inc.
   Market Cap: $2.962 Trillion
   Country: US
   Apple Inc. offers a range of sports tech products, notably the Apple Watch Ultra. This watch is engineered for use during strenuous athletic activities, boasting features like dust, corrosion, and water resistance. It sports a titanium case, a high-brightness 2000 nits retina display, and a night mode for workout metrics, catering to the needs of athletes.
2. Tencent Holdings Ltd.
   Market Cap: $391.34 Billion
   Country: China
   Tencent Holdings Ltd is a global eSports powerhouse, deeply entrenched in the media and entertainment sectors. As a major player in video gaming and esports, Tencent heavily invests in game development and sports tech. They also operate a sports VR platform enabling users to immerse themselves in virtual sports experiences.
3. Samsung Electronics Co., Ltd.
   Market Cap: $349.21 Billion
   Country: South Korea
   Samsung Electronics Co., Ltd. stands as a premier worldwide sports tech company and startup. Their product range includes smartwatches like the Galaxy Watch5 Pro, providing users with valuable health-related insights. Additionally, they offer infrastructure solutions for sports facilities, including stadiums.
4. Oracle
   Market Cap: $328.235 Billion
   Country: US
   A top global sports tech company, Oracle, provides point-of-sale solutions for sports venues, including significant stadiums, to enhance customer experiences. Leveraging Oracle Cloud, they offer real-time data insights to improve athlete performance, reflecting their dedication to sports tech excellence.
5. Cisco Systems, Inc.
   Market Cap: $235.701 Billion
   Country: US
   A significant player in sports tech, Cisco Systems Inc. collaborates with major esports organizations like Riot Games. Their innovative product, the Connected Scarf, launched in 2022, captures fans’ physiological and emotional reactions during matches, highlighting Cisco’s dedication to enhancing the sports experience.
6. SAP SE
   Market Cap: $164.76 Billion
   Country: Germany
   SAP SE excels in sports tech, offering SAP Sports One for real-time analytics insights about players and teams, benefiting sports clubs and associations. Another noteworthy product, SAP S/4HANA Cloud, provides valuable insights for strategic decision-making in sports.
7. IBM
   Market Cap: $134.774 Billion
   Country: US
   IBM is a significant player in sports tech, offering IBM Consulting to enhance customer experiences and provide insights through hybrid cloud and AI. Their capabilities in processing vast amounts of data contribute to informed decision-making in sports.
8. Sony Group Corp
   Market Cap: $106.385 Billion
   Country: Japan
   Sony Group Corp is a prominent sports tech player with products like Hawk Eye, a visualization technology aiding officials in making decisions during sports matches by closely observing significant moments.
9. Panasonic Corporation
   Market Cap: $26.55 Billion
   Country: Japan
   Panasonic Corporation focuses on developing innovative tech solutions for sports, including a 3D tracking system that monitors athlete movements in real-time, offering performance insights and pattern identification. They also manufacture sports wearables and broadcasting equipment.
10. FUJITSU
    Market Cap: $23.59 Billion
    Country: Japan
    FUJITSU is committed to making sports accessible to everyone by advancing innovative sports tech solutions. Their Studio Automated project focuses on fully automated video production for live sports, enabling users to control their game-viewing experience.
11. NEC Corporation
    Market Cap: $14.14 Billion
    Country: Japan
    NEC Corporation offers a range of sports tech products, including a video analytics system providing performance insights for athletes. They also provide infrastructure solutions for sports facilities.
12. SHARP CORPORATION
    Market Cap: $3.96 Billion
    Country: Japan
    SHARP CORPORATION is a leading sports tech company manufacturing electronic products, including projectors, digital multifunction machines, and information displays. Their Plasmacluster technology contributes to a more pleasant environment at sports facilities, complemented by their sports watches and fitness trackers.
13. DraftKings Inc.
    Market Cap: $14 Billion
    Country: US
    DraftKings Inc. operates daily fantasy sports and offers real-time sporting event data. They drive SportsTech innovation through “Drive by DraftKings,” a multi-stage venture capital firm focused on enhancing accessibility and engagement in sports via technology.
14. ONE Championship
    Market Cap: $515 Million
    Country: Singapore
    ONE Championship is a prominent combat sports organization, regularly hosting events. Their online platform provides event updates, extensive coverage of combat sports news, and video highlights.
15. OneFootball
    Market Cap: $442 Million
    Country: Germany
    OneFootball is a comprehensive platform catering to football enthusiasts, offering live match streaming, highlights, and sports product purchases. It boasts a mobile-centric monetization and distribution system.

Therefore, the sports tech industry is thriving, driven by a diverse array of companies, both large and innovative startups. Their commitment to enhancing fan engagement, athlete performance, and the overall sports experience is reshaping the landscape. These advancements promise an exciting future at the intersection of technology and athleticism, with continuous innovation on the horizon.

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