Explosive growth in the sports tech market is unlocking new revenue streams and reshaping the sports marketing industry, from automated content creation to deep fan data analytics.
Between 2020 and 2026, the global sports tech market is expected to grow at an impressive compound annual growth rate of about 21% to top USD 40 billion. Underlining this bright outlook, investment in the sector in Europe crossed the EURO 500 million mark for the first time in 2019, according to SportstechX.
For an industry navigating the impact of the COVID-19 pandemic, sports tech offers a ray of hope, with the powerful convergence of next generation data and content tools proving particularly attractive for rights holders and brands alike.
The arrival of 5G will further underpin growth, potentially replacing satellite distribution while transforming streaming and stadium concepts, including augmented reality, fan experiences and content sharing.
The impact of the pandemic on content consumption and delivery, esports and fan preferences has also boosted the long-term prospects for sports tech.
It is no secret that data analytics and engagement represent a big part of the future for the sports marketing industry as it competes for attention in a noisy entertainment space.
With audiences demanding more content and richer experiences, and sponsors seeking granular fan data to improve products and services, sports tech offers some very compelling answers.
For example, AI-based technology from companies such as WSC Sports, an Infront investment, automatically produces eye-catching video highlight content from live sports that can be shared immediately. Infront’s Content X – an automated, AI-based content creation and management tool – creates, distributes, amplifies and analyses personalised content, all in one place.
Rights holders, such as FC Barcelona, have already taken the leap to establish their own innovation hubs. For many, however, the busy and ever-evolving ecosystem of sports tech demands expert guidance to ensure that investments and partnerships are relevant and worthwhile.
To help rights holders and brands make sense of the tech ecosystem, Infront Lab scours the market and joins forces with the most promising start ups. For example, we are harnessing AI and other tech to create the kind of content that boosts revenue and fuels fan engagement.
From smart stadium concepts to fan analytics and automated highlights clips, embracing sports tech will empower rights holders and brands to achieve much-needed growth and grab fans’ attention as the world transitions through the pandemic.
With its global expertise in sports marketing and innovation, Infront X can help its partners take the crucial step of turning the technology into treasure.
To find out more about the trends shaping the sports marketing industry in 2021, download our white paper here.