Latest News
Sports Technology Market to Reach $25.70 Billion by 2030 – Exclusive Report by Meticulous Research®
According to a new market research report titled, ‘Sports Technology Market by Offering (Wearables, Digital Signages, Cameras, Smart Stumps & Bails, Snicko/Edge Detector, VAR, Sports NFT, Tracking Systems, Sports Analytics), Technology, Sport, End User, and Geography – Global Forecast to 2030’, the sports technology market is projected to reach $25.70 billion by 2030, at a CAGR of 26.2% during the forecast period 2023–2030.
The growth of the sports technology market is driven by the increasing adoption of fan engagement technologies, increasing investments in sports data analytics, athlete tech, and performance optimization, in-venue technology, gambling & gaming, and recovery health and home fitness, increasing number of sports events, and growing demand for data-driven decisions and operations.
The increasing emergence of sports leagues & events with large prize pools and the increasing adoption of AR/VR for creating near-perfect training environments are some of the factors which are expected to offer significant growth opportunities for players operating in the sports technology market.
However, very minimal monetization opportunities, difficulty in mining athletic performance data for generating easily understandable insights, and high risk of cybersecurity concerns may hinder the growth of this market. Complexity in integrating new technologies with older systems or applications, slow cultural change in sports, and lack of time-efficient solutions for cleaning and manipulating siloed data are some of the major challenges faced by the players operating in the sports technology market.
Furthermore, the increasing use of generative AI, NFT ticketing and streamlining sports events ticket buying & selling process, and the use of predictive analysis software helping teams & coaches make better decisions are the latest trends in the sports technology market.
Increasing Adoption of Fan Engagement Technologies to Drive Market Growth
Technology is strengthening the bond fans have with their favorite teams and athletes—allowing sports clubs and associations to create deeper, more meaningful connections that are easier to maintain from a distance. Fan engagement has evolved from shouting slogans from the stands to making an impact using digital tools. Sports leagues and clubs worldwide, such as Australian Open, the English Premier League, Formula One, the Rugby Union World Cup, FIFA, ICC, etc., are actively looking for ways to engage with their fans and create a competitive advantage by providing demographics like millennials and Gen Z a highly personalized experience from brands they engage with while being on the go.
According to the Sports Fan Engagement Marketing Report (2018) by Gameplan Insights and Magid Associates, about 60% of sports fans are willing to spend more on experiences with their favorite teams and athletes. Using data analytics, UX researchers, and other research techniques, sports clubs and associations increasingly try to gather insights about their fans before providing the right experience. By collecting data and leveraging technologies like AI and machine learning, sports clubs and leagues map out audience journeys, understand behaviors, and deliver insights supporting fan engagement. For instance, in the context of a starting quarterback for an NFL team, data analytics can reveal how many of their fans are dedicated followers who attend games and buy merchandise. It can also show how the number of people following them changes over time, which helps to identify new fans.
Sports technology is increasingly used for improving the live experience of sports. Using data analytics, and video-based AI technologies, sports brands can create a more engaging experience for their fans. For instance, the baseball team The San Francisco Giants created a virtual reality experience allowing their fans to see how it feels like a batter swinging his bat or a pitcher throwing that ball. Sports fans love to experience things in new and exciting ways, and emerging technologies provide the platform to deliver new experiences.
Based on offering, in 2023, the sports analytics segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to the increasing availability of large amounts of in-field data, growing demand for real-time data access on player performance, need for analytics solutions for analyzing complex in-field data streams, and availability of cost-effective and advanced computing solutions supported by cloud computing.
Based on technology, in 2023, the big data segment is expected to account for the largest share of the sports technology market. The large share of this segment is driven by the availability of advanced technologies such as multicore processors, high-performance databases, and data compression technology, paving the way for new and dedicated applications of big data for sports. Beyond sports performance analysis, clubs, leagues, media companies, and sponsors utilize big data to study fans’ preferences and behaviors, seeking to expand their reach and market penetration.
Based on sport, in 2023, the ball sports segment is expected to account for the largest share of the sports technology market. The large share of this segment is attributed to increasing applications of various sports technologies to boost sporting quality, improving business performance in the football industry, intense commercialization of football, creating new revenue-generating opportunities, enhancement of players’ and teams’ performance, and improve match officiating to identify and minimize mistakes that went unnoticed earlier in the game.
Based on end user, in 2023, the sports clubs segment is expected to account for the largest share of the sports technology market. Sports clubs are increasingly utilizing advanced technologies for boosting participation and improving communication between players, club officials, as well as additional elements like event planning, team management, financial operations, health and safety records, etc.; use of online platforms and applications for getting updates of players availability for matches and training sessions helping administrators and coaches who work for the club to quickly access this information and organize team sheets and arrangements; and improvement in team performance using sports analytics to gather and analyze vital data on players’ and teams’ performance using sensors, cameras, and other specialist equipment, helping coaches better understand how a player performs.
Based on geography, in 2023, Europe is expected to account for the largest share of the sports technology market. The large share of this region is attributed to the presence of many reputed and big football clubs in the region. Big clubs in Europe are increasingly using data-driven approaches provided by sports technologies to scout for potentially interesting players. Coaches and scouts in the top football clubs in the Europe region rely on advanced sports technologies to make the most informed personnel choices, keep their players in top condition, and get complete holistic views of a player’s capabilities, including detailed information to create individual training & recovery programs and analyze details such as ball handling time, ball speeds & trajectories in real-time.
The key players operating in the sports technology market are Apple Inc. (U.S.), Bellabeat, Inc. U.S.), ChyronHego Corporation (U.S.), SAP SE (German), Misfit, Inc. (U.S.), Catapult Group International Ltd (Australia), Garmin Ltd. (U.S.), PlaySight Interactive LTD. (Israel), Sportradar AG (Switzerland), Fan Three Sixty, LLC (U.S.), Performa Sports Ltd. (Ireland), Pro Football Focus (U.S.), DDSports, Inc. (ShotTracker) (U.S.), Sensor Holdings Limited (StretchSense) (New Zealand), Samsung Electronics Co., Ltd. (South Korea).
Scope of the Report
Sports Technology Market Assessment, by Offering
- Wearables
- Fitness & Heartrate Monitor
- AR/VR Headsets
- Smart Clothing
- Smart Patches
- Hearables
- GPS Trackers
- Contactless Biosensors
- Smart Footwear & Insoles
- Other Devices
- Digital Signages
- Cameras
- Spider Cams
- Drones
- Other Cameras
- Smart Stumps & Bails
- Snicko/Edge Detectors
- Video Assistance Referee
- Sports NFTs
- Tracking Systems
- Sports Analytics
- Player Health & Performance Analytics
- Team Performance Analytics
- Video Analytics
- Player Valuation
- Team Strategy
- Sports Betting
- Others
Sports Technology Market Assessment, by Technology
- Artificial Intelligence
- Neuroscience
- Nanotechnology
- Blockchain
- Virtual Reality
- IoT
- 3D Visuals & Simulations
- Big Data
- Other Technologies
Sports Technology Market Assessment, by Sport
- Bat & Ball Sports
- Cricket
- Baseball
- Golf
- Hockey
- Table Tennis
- Ball Sports
- Soccer/Football
- Basketball
- American Football/Rugby
- Volleyball
- Racket Sports
- Tennis
- Badminton
- Squash
- Other Racket Sports
- Racing Sports
- Formula F1
- Moto GP
- Nascar
- Drag Racing
- Rallies
- Cycling
- Other Racing
- Track & Field Sports
- Water Sports
- Adventure Sports
- Combat Sports
- Other Sports
Sports Technology Market Assessment, by End User
- Sports Clubs
- Sports Associations
- Athletes & Coaches
- Sports Leagues
Sports Technology Market Assessment, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Argentina
- Uruguay
- Rest of Latin America
- Middle East & Africa
- Iran
- Saudi Arabia
- Qatar
- UAE
- Rest of Middle East & Africa
Wow, time flies! Can’t believe it’s been ten years since stepping into the exhilarating world of online gambling – a field that initially seemed like a short-term stint quickly turned into a new-found passion.
Moving to Malta, and eventually finding a home in Tallinn, I’ve had the privilege to watch the highs and lows as well as the many progressions and transformations. Today, I am proud to form part of the Mr. Gamble team that is ambitiously expanding into new markets, and pushing the boundaries.
From Customer Support to CMO
My journey in iGaming kicked off in Customer Support at Betsson – a leap from my telecom sales management role back in Finland. While this move puzzled my family and friends alike, it was a necessary step. Over the months and years, I worked my way up through various roles including Affiliate Coordinator, Affiliate Manager and Head of Affiliates, learning the various intricate parts of the industry, while at the same time adapting to new technological changes.
One thing is for sure, the iGaming industry is a fast-paced one, and each role has helped me to thrive and adapt to the various changes. Flexibility is key when working in this industry.
Venturing into Entrepreneurship: My Own Affiliate Business
Following many years of corporate experience, I took the leap to start up my own affiliate business with the aim of creating my own business from scratch. Handling everything from SEO and content strategy to fostering brand partnerships and growth strategies gave me an overall view of the affiliate industry’s many complexities. This entrepreneurial journey instilled insight and resilience, especially in terms of the value of the diverse skill sets found within a team.
By 2023, I joined Mr. Gamble as CMO, bringing my own entrepreneurial experience into this company’s growth strategy. Drawing on my background in SEO, content management and brand development and alongside a knowledgeable team, we have successfully strengthened Mr. Gamble’s presence in established markets, while also setting our sites on new markets.
New Markets and New Possibilities
Since the online gambling industry is continually evolving and expanding, it also brings with it a surge in growth when it comes to new and emerging markets. While we have made huge strides in launching Mr. Gambe USA, we are also eyeing promising regions in Asia, Latin America and Africa, where digital adoption and regulations are evolving creating new opportunities.
As we continue to solidify our presence in the US, these emerging markets represent the next frontier.
An Ever-Changing and Evolving Gambling Industry
Over the past decade, the online gambling industry has quickly evolved from a somewhat fragmented field to a high-powered professional space. Conferences and expos, once informal gatherings have become hubs for talent.
Events such as SiGMA, SBC, iGB, NEXT.io and Hiphter Events today celebrate the progression of iGaming, while highlighting the various advances in technology and market inclusivity.
The shift toward hybrid work in recent years has also paved the way for industry shakeups. While digital operations are convenient, the importance of face-to-face meetings and connections remains. In an industry highly reliant and built on personal relationships, meeting in person strengthens partnerships and opens doors to new opportunities.
A Bright Future for Mr. Gamble
As CMO of Mr. Gamble, I along with the team are committed to expanding our brand’s influence, not only in traditional markets, but also in new and emerging ones. iGaming is constantly evolving and our strategies must evolve too, adapting and driving on the windy road to success. This entails adapting to changes in technology, user behaviour and experience, and most importantly navigating regulatory landscapes.
Of course, Google’s frequent algorithm updates keep us our our toes, pushing us to refine our approach to stay competitive and ever more relent.
Reflecting on the last 10 years, I am energised and optimistic for the future. With a talented team and untapped markets in tow, Mr. Gamble is well-prepared for substantial growth and impact. Here is to the journey ahead and to everyone – mentors, peers, and friends who have been part of this rewarding path. The next decade holds great potential, and I look more than forward to what is yet to come.
Latest News
Lucky Jane returns to explore ancient Egypt in 1spin4win’s Lucky Jane in Egypt Win Spins
This game invites players to join the fearless explorer, Lucky Jane, as she guides them through the rich and mysterious world of ancient Egypt in search of big rewards.
In Lucky Jane in Egypt Win Spins, Lucky Jane, the highest-paying symbol in the game, leads players on a treasure-filled journey across the iconic symbols of Egyptian mythology, including the protective eye of Horus, a powerful scarab, the legendary pyramids, and golden Coins. Just three golden Coins are enough to trigger the Bonus Spins round, which is at the heart of the Win Spins mechanic.
During the Bonus Spins, players receive ten free spins where Coins with values ranging from x1 to x100 appear on the 5×3 reels, paying out on any position. The more Coins a player collects, the bigger the potential payout! Players can also uncover the Minipot Coin to win the x100 Minipot or gather 15 Coins to unlock the coveted x1,000 Megapot.
Olga Bogdanova, Art Director at 1spin4win, commented, “With Lucky Jane in Egypt Win Spins, we’ve combined the richness of Egyptian mythology with a new gameplay mechanic that allows players to gather rewards as they go. The Win Spins mechanic works hand in hand with the theme, ensuring that every spin brings players closer to unlocking larger payouts and deeper adventure.”
The post Lucky Jane returns to explore ancient Egypt in 1spin4win’s Lucky Jane in Egypt Win Spins appeared first on European Gaming Industry News.
Eduard Blonk Chief Commercial Officer Sportradar
MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS
Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs. This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.
Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.
The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.
“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”
“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.
-
Balkans7 days agoEGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
-
Bragg7 days ago
Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)
-
Amusnet7 days ago
Amusnet Joins GAT Caribe Cancún to Showcase Gaming Excellence
-
Compliance Updates7 days ago
Massachusetts Gaming Commission Launches Official Seal of Approval
-
Australia7 days ago
ACMA: Tabcorp Pays $262,000 Penalty for Illegal In-Play Bets
-
Latest News7 days ago
Week 46/2024 slot games releases
-
Africa4 days ago
South Africa: Tribunal Grants Lottoland Interim Relief – Orders Google to Grant Lottoland Access to its Advertising Platform
-
Latest News7 days ago
The MGA publishes its 2023 Annual Report and Financial Statements
