Digitalization is causing a movement in the sports industry - and sports marketing. The result is trends that nobody had predicted just a few years ago. The digital age urges everything from those responsible for marketing in sports companies.
COVID-19 has also upended the sporting calendar, with professional organizations everywhere suspending their activities to restrict the spread of the virus. Even the Summer Olympics, typically one of the world’s most watched sporting broadcasts, has been lifted back a year. The global value of the sports industry was calculated to be $471bn in 2018 a growth of 45% since 2011 and before Coronavirus ended play, the only trajectory seemed to be upwards.Now, every portion of the sporting value chain has been impacted on, from athletes, teams and associations, to the media that broadcast and cover games. The Coronavirus has brought sport to a standstill but the virtual world is taking the opportunity to fill the void.
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Basketball is one of the most outstanding and immediately recognisable games across the globe. It’s a multi billion dollar industry. What’s more, the effort shown on the court from its star players is being rehearsed by engineers and designers worldwide. Basketball’s become a science-led sport, moving swiftly with the digital age serving extra health benefits. It’s an evolution that has seen shooting hoops become as tech savvy as the next- generation smartphone shaping the future of sports.
The future of sports, and its consequence on society, will be shaped by a collection of factors both within and beyond the control of stakeholders. Advances in technology specially Artificial Intelligence will begin again to create paradigm shifts in the provision and significance of experiences. Leadership also matters, the ability to mobilize around new models and policies that can serve the common good.
Refer to this link to know more about the future of sports technology:
1. The future of sports tech : Here's where the investors are placing there bets. Click Here
We, at OpenGrowth, are constantly looking for the new trends in the sports Industry. If you wish to know more about it, please let us know in the comment section.
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