The sports industry has changed radically in the past few years. Technology in sports is no longer a nice to have but rather a must have for performance and a key revenue driver for the entire sports ecosystem.
The sports industry ecosystem is more sophisticated than it looks. SportsTech companies should assess five potential target group, with distinct drivers to adopt innovations: the Athlete and his team, the Club or League, the sponsor, the media/ broadcaster and the fan who sometimes also is an amateur sports practitioner.
Overall, according to the latest market estimates, the entire global sports industry as a whole generates around US 700 billion in revenues annually. Moreover for start-ups / scale-ups aiming at raising interest from investors, adding a SportsTech angle to their pitch should be seriously considered: more than US 5 billion have been invested in SportsTech on a global scale between 2014 and 2016.
Sports Technology Ecosystem
Key SportsTech trends are in the following sectors:
Multi-platform access allows the user to consume their favourite sport 24/7 on different devises around the clock. The platforms are bridging the gap between the digital and physical experience – broadcasted or streamed quality improves constantly. New media & broadcasting are: On-line Streaming, Mobile Apps, Interactive Platforms, 3D & VR, Ultra high definition format.
Wearables & Performance enhancement
The performance of athletes and amateur fitness enthusiasts can finely be captured and analysed through the use of advanced sensors-based technologies. User-friendly interfaces allow connecting easily with all kinds of smart devices. Performance enhancement and health prevention in early stages are the main benefits, with a growing interest from new stakeholders like health insurance and services.
Smart Stadiums & Fan Engagement
Smart Stadiums provide staff and fans with a wealth of information such as parking availability, bathroom and concession lines, seat upgrades and food & drink offers trough sensors, cameras and digital signs. Smart stadiums increase profitability, enhance the fan experience, and improve stadium security.
Data Analytics, Artificial Intelligence and Machine Learning
These are overarching tech fields for the upcoming innovations. Making sense of data to target and supply the stakeholders with personalised content is key to optimise value generation in the ecosystem. For instance, refined statistical breakdowns of fans enable a customised interaction with them, through optimised content-oriented interaction, and in fine enhanced adherence to sponsor messaging. Other examples would include performance indicators modelling to follow or analyse for player motion data, exposure to shocks, degree of fatigue etc.
The fusion of traditional sports and eSports creates huge potential to usher in a new level of events, sponsorship, merchandise sales and betting into video games.
The UK, a leading sports nation offering great opportunities for Swiss SportsTech players
The UK is a one of the leading Sports nation in the world and certainly the most mature with regards to monetisation and sports business. As such, it offers great market opportunities for companies providing innovative technologies.
The UK outnumbers the other European countries by far if it comes to SportsTech companies. Investors pump incredible amounts of money into Premier League. Six of the seven Formula 1 teams have their technology centres in the UK. Naturally a lot of SportsTech companies are targeting these stakeholders. But besides that, Sports is seen as a national health prevention priority. London Sports for example aims at making London the most physically active city in the world. This ambition, combined to the eagerness by the broader public to adopt digital innovations and share data, leads to a vast scope of potential collaborations with very diverse stakeholders.
With its incomparable density of international sports organisations, Switzerland is unanimously recognised in the UK as a political centre for Sports. This branding advantage should be leveraged by the fantastic Swiss SportsTech companies who are at the forefront of innovation in the industry.
UK SportsTech Mission – Join us
The Sports Technology Awards offers a unique opportunity for Swiss companies to gain visibility on the UK market and beyond. It is the leading event for the Sports Industry, with 19 competing categories and considerable exposure in the media.
9 Exciting Swiss Sports Technology innovators are in the running to participate at the annual SportsTech Awards in London. Fingers crossed and Hopp Schwiiz!
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