Analyst Brief: Technology Transformations Influencing the Sports Industry

Technology has become an integral part of our lives, the sports industry is no exception. With advancements in technology, the way we play and watch sports has undergone a significant transformation over the last decade. From instant replay and video analysis to wearable technology and virtual reality, technology is influencing the sports industry in many ways. Here are a few significant technology transformations influencing the sports industry:

1.           Instant Replay and Video Analysis

Instant replay and video analysis have become an essential tool in live sports officiating, but a similar technology allows coaches and players to review critical moments of the game and make decisions based on them. Between innings, most MLB teams can be seen in their dugout viewing video of the opposing pitcher. Video analysis has revolutionized the way sports teams analyze their opponents’ performance, helping them identify strengths and weaknesses to adjust behaviors.

Example: NFL Hawk-Eye

2.           Wearable Technologies

Wearable technology has become an essential part of sports, providing athletes with valuable data about their performance. Wearable technology such as fitness trackers and smartwatches can monitor athletes’ heart rates, calories burned, and distance traveled during training and games. This data can help athletes and coaches make informed decisions about their development cycles – training, nutrition, and recovery. The low cost and obvious benefit has democratized sensors over various types [and accuracy] help competitors develop faster and more safely.

Example: Softeq

3.           Virtual and Augmented Reality

Virtual and augmented reality technologies are transforming the way we watch and experience sports. Immersive and second screen technologies provide viewers with a rich experience, allowing them to feel like they are part of the game. New ways to experience sports provide real-time information feedback to both brands and fans during games, such as player statistics and scores that compliment the experience while offering brands new ways to identify what is interesting to consumers.

Example: VR/AR Positive Impact on Sports

4.           Fan Engagement

Technology has also transformed the way fans engage with their favorite sports teams. Social media platforms provide fans with a platform to connect and communicate with their favorite players and teams, allowing them to engage in real-time conversations and get behind-the-scenes insights. All the interaction responses and data serve to inform corporate sponsors so they can value their investments.

Example: Players Only

5.           Stadium Technologies

Stadium technologies have also undergone significant changes. From high-definition screens and ultra fast dedicated stadium Wi-Fi to mobile ticketing, cashless payments, and concession apps, stadiums are more connected than ever before. Stadiums are also using technology to enhance the fan experience, such as providing fans with personalized recommendations and experiences based on their interests.

Example: Tappit

Along with many other industries, technology has transformed the sports industry in many ways. From instant replay and video analysis to wearable technology and virtual reality, technology has provided athletes, coaches, and fans with new ways to experience and engage with sports. As technology continues to evolve, we can expect to see even more advancements in the sports industry in the future. A newly emerging area to research might be – how artificial intelligence is playing a role inside each of these exciting areas.