When clubs, investors, and sponsors started looking at the sports industry like any other business, they started implementing different innovations to increase their turnover. Today, almost every sport and professional club is focusing on adopting fan-oriented technologies, where the revenue is the highest. That’s why soccer claims the largest part of the sports technology market, following the introduction of VAR (Video Assistant Referees) in 2018 and others.
Away from soccer, big data is also making a significant difference in basketball, baseball and football. As a result, the sports technology market is expected to reach $30 billion by 2024. Let’s look at how technology is impacting sports while benefiting clubs and athletes.
How Sports Technology Benefits Clubs and Athletes
Over the last few years, a huge number of clubs from major sports leagues in the world have started working with innovation developers. For instance, the Toronto Raptors worked with IBM specialists to create a modern talent evaluation system that gathers different types of data like league statistics and player information. That accelerates the decision-making process.
The collaboration between the Spanish side, Real Madrid, and Microsoft are also worth mentioning. The tech giant provided one of the top soccer clubs with a system that allows them to analyze data collected during matches and training in real-time. Wearable tech gadgets are slowly changing from fancy equipment to a necessity for collecting information like a player’s strengths or weaknesses.
Sports Technology and Fan Engagement
Starting with sports betting apps, like Betway app, fans have benefited greatly from the integration of sports with technology. Aside from that, fans can access sports events easily from their TV or online. Even better, tech companies, like many other companies, are now actively partnering with sports organizers and clubs intending to improve user-engagement and accessibility. Betway is one of the biggest companies that you must likely had a chance to see partnering with sports organizers and clubs.
Sports tech has also brought fans a better viewing experience, even though most of us take these things for granted. For instance, the score is predominantly displayed at the screen while watching a match, and the first down line is visible in American football.
Technology and Fitness
Thanks to new technologies, the fitness industry has continued to grow over the last decade. Experts believe the market will continue growing in 2020, reaching close to $120 billion by 2021, with over 250 sports clubs worldwide.
With new technologies such as AI, fully automated clubs are no longer the future but reality. Artificial intelligence allows fitness centers to reduce labor costs while predicting customer behavior through in-depth activity analysis. Even better, amateur activities are taking a professional turn thanks to access to all data gathered from fitness apps.
A recent study suggests that the fitness app market will grow by 23% by 2023. As such, we can expect more apps developed to help athletes lift the weight, run tracks and improve their general training sessions.
In many ways, the athlete is as good as the equipment he uses to train. Golf clubs and tennis rackets have witnessed the biggest improvements from technology, though it has a significant influence on all games. Today, everything from shoes to fit shirts, are created with cutting-edge tech to ensure a player’s maximum performance.