Table of Content for this section:
- Market Opportunities in the Convergence of Sports & Technology
- The Quantified Athlete
- Market Segmentation & Monetization
- Market Segmentation & Technologies
- Market Research & Data
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1. Market Opportunities in the Convergence of Sports & Technology
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The Sports Innovation LabLinks to an external site., a technology-driven services company focusing on the convergence of sports and technology, segmented the Sports technology market opportunities into the following five segment:
Esports - Competitive video gaming galvanizes a previously disparate market of millennials, cord-cutters, and OTT consumers, while eSports ushers in the future of sport content creation and consumption.
Next-gen sponsorship - Brand activation used to focus on impressions, but agencies and companies now focus on building experiences and measuring value.
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Smart venue - Smart venues are a platform for fan experiences: They guide the journey from a ticket purchase to the safe return home. Powered insights improve the venue, and the smart city around it.
Immersive media - 360 video and OTT channels exemplify new approaches to capturing and distributing content. These methods are shaking up traditional content-delivery models and fan expectations.
⇨The quantified athlete - From genome sequencing to mixed reality training, health and performance wearable data, athletes are changing how they understand and improve their performance.
Sources:
Sports Innovation LabLinks to an external site.
Digital Health & Sports Technology in 2018Links to an external site.
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2. The Quantified Athlete
3. Market Segmentation & Monetization
4. Market Segmentation & Technologies
5. Market Research & Data
Once people try an endurance event, they’re hooked. 37% (top answer) indicate that they’ve participated in 5+ endurance events over the past year, while 99% of those surveyed indicate they will participate in an endurance event in the future.
Endurance event participants love to participate in endurance events from 5Ks to marathons and from mud to pavement. On average, over the past year survey respondents attended 3.3 different endurance event types, with 5Ks (64%) mud runs (49%), obstacle events (40%), 10ks (32%) and half-marathons (31%), being the most participated in. Endurance event participants are always looking for their next challenge
The sports industry has entered a period of rapid adoption of artificial intelligence (AI) in the analytical sector. [...] Sports analytics is one of the most prolific areas in sports technology, forecast to grow at a CAGR of 56.66% between 2017–2021.
Sports organizations are adopting a data-driven decision-making strategy at all levels, from player recruitment to fan engagement, which has led to increased investment in data services and highly customized analytical solutions. With a market size of only $125 million in 2014, sports analytics valuation jumped to $764.3 million in 2016 and is expected to reach a staggering $4.7 billion by 2021.
Sources:
https://www.researchandmarkets.com/research/wlpbw8/global_4_5?w=4Links to an external site.
https://www.eventbrite.com/blog/academy/endurance-sports-participant-study/Links to an external site.
https://hackernoon.com/technologies-of-today-that-will-make-a-bigger-impact-on-sports-tomorrow-e30237ecfc40Links to an external site.
https://hackernoon.com/how-sports-teams-athletes-and-fans-reap-the-rewards-of-big-data-22d07a85f7fcLinks to an external site.Links to an external site.
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