Racquet sports are booming these days.
Currently, the total racquet sports industry is worth over $9B according to RacquetX, an all-racquet-sports festival.
And that’s not including money spent building new courts, upgrading existing ones, sponsoring celebrity players, and tournament prize money.
In case you don’t know, a racquet-based sport is any game where players use a racket or paddle to hit a ball or other object.
This includes popular sports such as:
• Tennis
• Padel
• Pickleball
• Table Tennis aka Ping Pong
• Badminton
• Squash
• Racquetball
Racquet sports are some of the oldest sports out there.
Some have been around since the 1500s, but we’ve only started to see this explosion in recent years.
In the 1800s, galvanized rubber and improved manufacturing techniques came about, which were tipping points for the industry. A game similar to modern-day tennis and squash emerged from this innovation.
The first Wimbledon game was then played in 1877 and table tennis was born around this time also. Pickleball and padel started to become popular around the 1960s.
Over time, individuals and businesses started to see how big of an opportunity these sports were and constructed leagues, tournaments, and courts globally.
All of this transformed into the racquet industry as we know it today.
Here are some additional stats and facts about the growth of these sports:
• Despite being worth $9B, the racquet sports market is forecasted to grow over $500M between 2016 and 2026
• Tennis, pickleball, and padel are the three most popular racquet-based sports
• There are over 87M tennis players across the world
• There are over 36M pickleball players throughout the US
• There are over 25M padel players across 90 countries
When you look at where these sports have come from and the upside, there’s still a lot of opportunity left.
Technology is playing a massive role in the racquet sports boom and is expected to propel it to an $80B industry by 2032 across all sports.
This is why we’re diving into some of the top startups around these sports and how they are using technology to revolutionize this industry.
https://lnkd.in/eCRzdPHU
SportAI is equally thrilled to partner with MATCHi! This is a wonderful opportunity to introduce innovative AI technology to the global racket sports community. We´re at the beginning of something incredible! 🙌🎾