One of the industries with the quickest rate of growth, the sports industry is expected to reach $599.9 billion in revenue by 2025 and $826.0 billion by 2030. The technology supporting the sector develops along with it.
The previous year was jam-packed with the comeback of fantastic sporting events, including tennis Grand Slams, the Six Nations Rugby Championship, the FIS World Alpine Ski Championships, and the UEFA Euro 2020, the Tour de France, and the Tokyo 2020 Summer Olympics.
The landscape of sport is expected to change even more in 2022 as a result of developments, particularly in the areas of technology, sustainability, and inclusivity.
Here are the key technology trends that have shaped the sports sector and that you need to be aware of as a result of the paradigm change in technological development.
Recent Technology Trends In The World Of Sports
Artificial Intelligence
Over the past few years, traditional sports in all categories have steadily declined. The emergence of virtual reality and Gen Z’s disinterest in traditional sports were the causes.
Artificial intelligence has gained the upper hand when it comes to planning, training, advertising, etc., giving GenZ a more comfortable alternative for playing these games virtually that includes e-sports and virtual games. Additionally, it has altered how audiences take in the content.
As AI optimizes performance using your unique data, training methods will advance. Stadiums will change into deep learning living organisms as a result of artificial intelligence, and spectators will be able to view player data on their phones instantly.
Sensors and Data Analytics
Sports sensors are rapidly taking over the world. Athletes will be able to exploit the data that sensors produce, but they will also be crucial in fields including media, textiles, wearables, analytics, venues, health, and fan involvement.
The market is already worth several billion dollars and will surely grow. Athletes who want to gain that additional 1% must use sensors since they are the future. The sports sector has found sensors to be a benefit.
Blockchain Technology
Although many individuals mistakenly link the blockchain to cryptocurrencies, it is much more than that. It will eventually make its way into the world of sports.
Just a few examples include secure sports betting, unforgeable tickets, and direct investment in teams or athletes in exchange for a share of their future profits. Blockchain technology is used in every professional league, including the Indian Premier League and American ones.
Content Delivery
The popularity of television has drastically decreased, and OTTs, or internet streaming platforms, are now commonplace. Numerous sporting events are combined with OTT platforms in an effort to appeal to Generation Z. The accessibility and popularity of OTT are the cause.
For instance, Generation Iron in bodybuilding and Drive to Survive in Formula 1 are examples of how the sports business is changing in response to GenZ’s interests.
In order to reach the right audience at the right time and increase their market share and viewership, major league sports have also begun streaming on OTT platforms.
Embracing Virtual Reality
Gen Z is the technology generation, as has been mentioned. The two are welcomed. You should not ignore this trend. Fans may change into their favorite athlete by utilizing VR and AR! They will be more fully immersed in the game and able to experience what it is like to be a part of a game.
By pointing their cellphones in the general direction of a player, augmented reality will give them access to the required information and stats. Keep in mind that there is more, much more to the stadium experience than this!
Progress in Fitness Regimes of Athletes
As was already noted, technological innovation has enhanced athletes’ quality of life and abilities. Positive mental health, healthy eating practices, and other factors are monitored for athletes, and tracking has never been simpler thanks to sensors and artificial intelligence.
Athletes are moving their training experience to a completely new spiritual and psychological level in addition to practicing on a level of physical conditioning. Athletes and the sports business will benefit from advances in gene therapy, neuro coaching, sleep management, and other areas.
Enhancing Brand Value
The athlete will grow stronger and stronger! Every tendency points to him or her. He will be the primary data transmitter and carrier for the industry of wearables and smart textiles, for fan engagement, data analytics firms, stadiums, training programs, media companies, etc. in addition to his personal advantage. These statistics are helpful to many sectors. A new role with a new source of income will be given to the athlete: data vendor!
Conclusion
Sport is for everyone, but there is still plenty that can be done to make it more accessible in reality. Studies demonstrate that compared to other people, those who live with disabilities take part in organized sports far less frequently.
The year 2022 will see a shift toward sporting organizations tackling this problem. Sports programs that are inclusive will progressively give everyone the possibility to participate in teams and interact with the sport.
