Written by: Joseph McLean
Technology is developing at a fast pace and we will likely see huge breakthroughs in the next few years. People rely more and more on technology, as it helps them accomplish household chores, tasks, organize their time better, and consume resources more efficiently. Many other domains rely on technology, especially after a year that was marked by tremendous changes. 2020 was a year when a major shift in how people see life has happened.
Confronted with the possibility of catching the virus, people were urged to spend more time at home. Practicing sports was not allowed for a few months. But as governments eased the restrictions, people began practicing new sports. They have discovered hobbies and sports they never thought they could take on, which is great.
However, the sports industry is an inclusive one and here are more types of sports included, not only the traditional ones. So, in the last years, gaming, gambling, and e-sports have made their entry. These are some of the industries that are in constant development. Technologies are deeply intertwined with many other fields, including sports such as basketball. The future of sports tech looks promising, but let’s see where investors are placing their bets.
Sports Tech Domain
As the Tokyo Olympics was postponed for this year, sports tech is rising. This is thought to be a unifying event where countries around the world are competing. Everyone will be with eyes on this event, being it in front of the TV or as a participant at the live competition. But if we take a step back and look at how the last year was, the fields of sports tech that are expected to rise the most are obvious. It’s clear that this event, just like all other sports events that already took place, will not allow large gatherings of people. According to the thesis writing service, this means that most sports fans will be at home, watching the TV or live streams on the internet.
Which Are the Fastest Growing Domains of Sports Tech?
Investors are placing their bets on fan engagement technologies. People will not be able to physically be there, but their image can take a seat in a stadium. This was the case of the NBA preseason which took place in December, and which fans from all over the world could be part of.
Live streaming will be among the fields of sports tech that will experience immense growth and this is already happening. As you can no longer go to watch a basketball or football game live, you will start searching for live streaming options online, highlighting a sports assignment writer from assignment help.
At the same time, we should forget about the industry of e-sports. It gained momentum in the last decades, but the last year it has experienced a slightly higher rise. In 2020, the industry of esports has experienced a rise of over 15% compared with the previous year. Of course, one of the main factors that influenced the growth of esports is the global pandemic. As people were forced to spend more time inside, they needed to find new hobbies and activities to engage in.
And sports competitions between teams, meaning the esports industry, has been the one many people went to for entertainment. This is also because this was one of the ways people could spend more time with their friends. Teaming up and competing against other teams also helps people bond more and get closer to each other. And as long as you cannot see each other, playing a game as a team was the solution many groups of friends adopted.
The gaming industry has grown along with the one of esports. If in 2019 the gaming industry has experienced a 7.2% growth compared with 2018, in 2020 the growth was over 9%. The increase is slight but steady. And of course, all adjacent fields have grown at a fast rate too. For example, media distribution and content platforms are the most fan engaging fields that are supported by the evolution of technology.
As they are the fastest-growing fields of sports tech, investors are placing their bets on them.
Which Are the Slowest Growing Fields of Sports Tech?
Athlete performance technologies, for example, coaching platforms, wearables, or recovery health are expected to succumb to the fields of esports and gaming. The same goes for stadium experiences, such as ticketing, biometrics, or in-venue services. Although, they will probably experience a slow decline given the current state of the world, underlies essay writing service.
When investing, it is important to also take into consideration what the trends in the industry are going to be. Likely, we will not see a rise in athlete performance technologies, although it is promising. Teams around the world that are not allowed to train are looking for other options. And online coaching seems to be the solution to partially meet the needs of sports teams.
Where Are the Bets Placed?
Besides fan engagement technologies, investors expect to see a rise in media platforms or platforms that are measuring and analyzing data. Data is important not only in the field of health or statistics but also in sports. Data about the performance of players can offer valuable insight for coaches and teams alike. Like this, they can tailor the training experience and adapt it to the whole team and individual players.
However, the field of home fitness is growing too. And this is due to the global pandemic that started last year. People have become more and more aware of the positive benefits sports have on their physical and mental health. So, they began looking for ways to spend their free time and exercise. Exercising has also helped many of them keep their sanity while being locked down, so it is likely that more and more people will start practicing a type of sport.
As technology advances, so will the industry of sports tech, says John, a content writer who offers dissertation help for thesis writing services. And even though the other industries are expected to have a cycling growth, the domain of sports tech is led by consumer trends. Which change constantly and make the sports tech industry different from the others.
The future of sports tech lies in front of our eyes. The gambling, gaming, and esports industries are already experiencing tremendous growth. And this trend will likely continue, as the global pandemic is an important factor that contributed to this rise. Fan entertaining technologies are the field investors are placing their bets on. Content platforms and media ones are also on the rise, as social media is the channel where you can promote your brand and business. And it is also the place where most of the people spend their time nowadays. The future of sports tech is bright and it’s here.
Bio lines: Joseph McLean is a content freelance writer for blogs and social media posts, sometimes he works as an expert with https://my-assignment.help/ and https://www.essaywritingland.com/, graduated from the University of Queensland. In his spare time, you can find him skating in the local park. Please contact him on Facebook.