Smart Boxing Gear Market Size, Share, Growth, And Industry Analysis, By Type (Smart Boxing Glove, Smart Boxing Bag, and others), By Application (Commercial, Residential, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Smart Boxing Gear Market Report Overview

• 

•  Request a Free Sample to learn more about this report

The global smart boxing gear market size was USD 47.200 billion in 2021. As per our research, the market is expected to reach USD 1,140.74 billion in 2031, exhibiting a CAGR of 34.32% during the forecast period.

 The global COVID-19 pandemic has been unprecedented and staggering, with the smart boxing gear market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Boxing gloves are extra cushioned and non-fatal gloves, particularly designed to be used in Boxing, Muay Thai, Kickboxing combat, or competition of such sports. The purpose of boxing gear is to provide safety and comfort to the hand of the boxing player while playing boxing or fighting during a match or training.

Smart boxing gear mainly comprises gloves, shields, arm guards, head guards, hand wraps, shin guards, mouthguards, and other protective gear for boxing activities. Users can measure their punch power through sensors in their hands and feet with these gears integrated with technology such as accelerometer sensors or gyroscopes. These sensors help in getting an accurate account of speed, power, and angle from a punch to reduce injury during training sessions or matches.

COVID-19 Impact:  Sports Gear Market Hampered by the Pandemic due to Less Demand & Supply

The sports gear market has faced a stringent downfall in the supply chain and specifically, the demand for boxing gear has been curtailed during the lockdown period owing to the COVID-19 outbreak across the world. Resulted, the production, supply, and demand for boxing gear have been disrupted during the pandemic, due to lack of labour, manufacturing restrictions and so on. Thus, the market limitations halted the growth of the market in the previous years. However, as the restrictions are being removed over the international business industries, the market is expected to recover gradually over the forecast period.

Latest Trends

"Commercialization & Use of Smart Technology in Sports Industry Augment Market Evolution "

Globally, the Smart Boxing Gear Market is expected to witness significant growth in the coming years. The rising awareness about the benefits of physical activity on health combined with emergence of new age technologies are some of the factors accelerating this market. The increasing acceptance of mixed martial arts and integration of these sports in schools after substantial research on its positive effects on mental and physical health is also an important driver for this market.

Boxing is a sport where the participants compete by fighting with their fists. The objective is to knock out your opponent. With its growing popularity, the market of boxing gear is also increasing. The recent trend in this market is towards Smart Boxing Gear Market which will provide all new features and better performance. A chip inside the glove that states about the impact of punches. This will help to measure the impact of a punch in a scientific way. The mouth guard also have sensors and records the data. The focus is not only results but also the safety of athletes. If there is any condition, the doctors can identify whether the boxer can continue the match or not.

Smart Boxing Gear Market Segmentation

• 

•  Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into Smart Boxing Glove, Smart Boxing Bag, and Others.

• By Application Analysis

Based on application, the market can be divided into Commercial, Residential, and Others.

Driving Factors

"Advanced Features and Fitness Trend Enlarge Market Development "

The smart boxing gear market is gaining traction in the market with its several advantages. Smart boxing gloves are capable to track real time progress, accurate motion sensing and interactive lighting effects. Also, the gloves can record every punch and its shadow as well. In addition, these are made of wear – resistant PU & TPU materials. As a result of this, there has been an increased demand for smart boxing equipment, which has boosted the overall market size. Moreover, an increasing number of millennials are taking up boxing as their preferred form of fitness training. This has led to an increase in awareness about health and fitness among people which also positively impacted the smart boxing gear market growth.

"Growing Popularity of Boxing Among Millennials to Inflate Market Growth"

One of the other driving factors of the market is the growing trend of sports. Several sports industry is promoting boxing as a game and sport. As well as, rising number of boxing world championships and tournaments, and students’ participation form college schools, and universities are anticipated to boost the demand for the smart boxing gears. The sports industry is an extensive business, which includes sporting goods and apparel to broadcasting rights, and revenues which will drive the market growth over the forecast period.

Restraining Factors

"Lack of High Quality Gear Providers can Restrict Market Expansion"

The smart boxing gears are gaining popularity and demand by various factors; however, it has some restraint in the market for instance, the lack of high-quality smart boxing gear providers. As the smart boxing gears have used technology in it for better results, which require expertise of the technology. Thus, it can be a challenging task for manufacturers to provide best quality product with accurate results.

Smart Boxing Gear Market Regional Insights

• 

•  Request a Free Sample to learn more about this report

"Highest Demand for Boxing Gear in the North America Fuel Market Development "

With regards to regional insights, North America is the prominent region of the smart boxing gear market. the major market share is held by the North American region. The U.S. alone dominates the regional market growth. the world boxing champion is prevalent in the United States which is anticipated to spur the demand for smart boxing gears in market. In addition, the popularity of sports, and international championship competition encourage market opportunities. Hence, the market is projected to flourish in the region and will witness exponential growth over the forecast period.

Key Industry Players

"Emergence of Technology in Sports Gear Compel Key Players to Enhance Product Quality "

From the last few years, the use of technologies has been rising in variety of industry. The purpose of utilizing the technology in sports gears is to provide new experience. Resulted, leading players of the market keep experimenting with new technologies to enhance, product quality, customer experience to meet new market trends. Therefore, top market players have been using new strategies, technology, market trend, acquisition, mergers.

Also challenges of the market keep companies induce to use better tactic to beat competition in market. Top five market players are such as DribbleUp, Hykso (FightCamp), Eggplant Technologies Limited, Nexersys, SkyTechSport, Exergame Fitness, Emami Design, Padipata and so on. In terms of revenue, the majority of the smart boxing gear market shares accounted by these top brands. Thus, the key players influence the sports gear market growth during the forecast period.

List of Market Players Profiled

• DribbleUp
• Hykso (FightCamp)
• Eggplant Technologies Limited
• Nexersys
• SkyTechSport
• Exergame Fitness
• Emami Design
• Padipata
• Fitbag

Report Coverage

The report concentrates on insights into the smart boxing gear market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. It also explains the study of this industry’s financial performance, investments, progress, innovation marks, and new product launches by the top companies and offers a deep understanding of the current market structure, competitive analysis based on key players, key growth factors, and restraints that affect the demand for growth, prospects, and risks. In addition, the post-COVID-19 pandemic’s effects on international market restrictions and a profound understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been described rigorously to provide clarification of the market competition.

This report also states the research based on methodologies that explain price trend analysis of target companies, collection of data, statistics, target participants, import-export, statistics, and previous years’ records on the basis of market sales. Moreover, all the significant aspects which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been clarified in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.