Innovation in Sports – Report Bundle (6 Reports)
‘A must for sports clubs to stay in the game by attracting and engaging fans in the modern era is to leverage technological innovations. Whether it’s tracking scores or increasing fan engagement, sensors are playing a key role in this. Digital fan engagement is also on the rise. Today’s stadiums are equipped with high-speed internet that allows fans to watch replays, player stats, live commentary, and more. With wearable techs, AI platforms, and virtual engagements, many sports teams have begun to increase their relevance across industries.’
As a part of this bundle, you will gain access to in-depth insights available in the following reports:
- Thematic Research – Wearable Tech in Sport
- Thematic Research: Artificial Intelligence (AI) in Sport
- Thematic Research: Augmented Reality in Sport 2022 Update
- Thematic Research: Blockchain in Sport
- Thematic Research: Sport and Esports
- Thematic Research: Sport Video Streaming and OTT
Report 1: Thematic Research – Wearable Tech in Sport
According to GlobalData forecasts, the wearable tech industry was worth $59bn in 2020 and will expand at a CAGR of almost 20% by 2030. The lion’s share of the growth will come from wearables and smartwatches, while fitness trackers’ popularity will wane due to their limited capabilities. Other segments such as smart clothing, augmented (AR) headsets, virtual reality (VR) headsets, and smart glasses are still in the early stages of development. The enterprise adoption of wearable tech is accelerating, with notable activity in the healthcare, logistics, insurance, fintech, and defense markets. Many sports teams have begun seeing the benefits of it wearable devices to increase their relevance across industries. Every sports team and athlete have a responsibility to gain a competitive edge in some way, as success will ultimately lead to greater profits and more lucrative remunerations.
Report 2: Thematic Research: Artificial Intelligence (AI) in Sport
Most fans use online platforms to keep up to date with their favorite sports and athletes through online news and stats. AI technology helps in the distribution of content between AI-enabled cloud service providers and sports companies. Sports companies rent AI as a service (AIaaS) platforms from tech vendors to help manage data to improve the fan experience. However, in-game uses of technology such as virtual referees and instant replays, while popular in certain sports, are limited to date. It needs to be demonstrably more accurate than a human and not compromise a game’s excitement. Those with established AI providers will continue to invest in this area, and those sports with no prior use cases will use it predominantly to enhance their online platforms.
Report 3: Thematic Research: Augmented Reality in Sport Update
AR adoption will primarily involve broadcasting, fan experiences, and gaming. AR graphics in broadcasting creates a more engaging and insightful analysis of events, while AR on personal devices is a novel marketing introduction that increases fan engagement. Tech companies partner with sports federations to improve infrastructure, connectivity, and technological capabilities and thus, advance AR in sports. AR can also be used to analyze training footage and match recordings to improve performance. AR even helps in tactical decision-making by sports teams.
AR Value Chain, by Components
Report 4: Thematic Research: Blockchain in Sport
Sport is always looking for ways to generate more revenue, and the cryptocurrency boom in 2021 has provided the industry with ample opportunity. The size of sponsorship deals being struck between sports teams and leagues with crypto firms increased massively in 2021 and is unlikely to slow down over the next few years. COVID-19 has encouraged sports to look at different angles of monetization, items including fan tokens and digital collectibles. Brands are exploring new ways to secure trust due to growing consumer concerns regarding product authenticity and sustainability. Blockchain provides a way to convince consumers of the authenticity of their products, mitigating the risk of counterfeit products. This is of particular interest for luxury goods, with brands like LVMH, Lamborghini, and De Beers, which are implementing blockchain to add ensure authenticity value to products. However, every industry rife with counterfeiting, from sports ticketing to drugs, is in dire need of a secure and transparent ledger.
Report 5: Thematic Research: Sport and Esports
Esports is the fastest-growing theme in the gaming sector. Although esports currently caters to a fairly niche audience, organized multiplayer video game competitions have enjoyed spectacular growth over the last decade. It should be taken into account though that the vast majority of esports events involve PCs. However, competitive gaming using mobile devices will become increasingly popular, particularly as chip developments continue to make smartphones faster and more powerful. To tap into this market, developers are producing so-called ‘lite’ versions of game apps, which can be played on most devices, regardless of technical specifications. The COVID-19 pandemic has hurt traditional sporting events. To keep in touch with fans online and to engage with the audience, prominent sports clubs, leagues, and celebrities have taken to esports. For instance, the Premier League held a FIFA tournament amongst some of its top players, while Formula One launched its Virtual Grand Prix, in which professional drivers could compete as replacements for canceled races.
Report 6: Thematic Research: Sports Video Streaming and OTT
The rise of the internet and streaming platforms has changed the way fans view sports. While many of the older generations still prefer viewing live at stadiums, many younger fans are now inclined to view from home on multiple screens, to keep up with their diverse taste. The strategy that many major sports leagues and teams employ nowadays is to win over new fans across the globe, broadening their appeal and trying to increase the number of potential business opportunities. While brands such as Amazon were initially focused on film/TV content for their streaming platform, they have made significant headway in recent years in securing sports rights. The company has managed to secure significant rights deals with the Premier League and NFL and will be looking to expand its share of the sports rights market even further in the coming years. It remains to be seen how the sports rights market will progress in the coming years, with many traditional broadcasters likely moving in favor of setting up their own streaming platforms to remain competitive in the market.
Key Players
Table of Contents
Frequently Asked Questions
The global wearable tech industry market size was $59bn in 2020.
Sports companies rent AI as a service (AIaaS) platforms from tech vendors to help manage data and distribute more visually enhanced content to improve the fan experience.
AR can be used in broadcasting, fan experiences, and gaming, to analyze training footage and match recordings, and to help in tactical decision-making by sports teams.
Blockchain provides a way to convince consumers of the authenticity of their products, mitigating the risk of counterfeit goods, and ensuring authenticity.
To tap into the competitive gaming market, where using mobile devices will become increasingly popular, developers are producing so-called ‘lite’ versions of game apps, which can be played on most devices, regardless of technical specifications.
In recent years, Amazon has managed to secure significant rights deals with the Premier League and NFL to increase the number of potential business opportunities.
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