Being a sports fan it’s important to know the relevant industry trends and today we will talk about the sports industry trends of 2021.
Every year there are trends that change the sports scenario around the world. Sports are evolving year after year and today we will talk about the megatrends that will have a greater impact in 2021. In this article, we will address the top 5 sports industry trends of 2021.
Let’s check out the top 5 sports industry trends of 2021:-
Sports Industry Trends 2021
1. Integration of 5G and Cloud Computing play a vital role in Sports
Mobile device statistics in content consumption are just insane in 2021. Mobile internet usage has also been growing rapidly year after year.
Reports suggest that mobile accounts for approximately half of the web traffic worldwide. The integration of the 5G service will help to increase the mobile traffic and consumption of content all over the world. This would be a megatrend in the sports industry in coming years. 5G service will have a greater impact on sports events around the world.
Due to the high speed of the 5G wireless service, the data transmission becomes easy, and getting the data is easier for fans regarding the club and their players. Sports fans can get updates in real-time data wherever they need it.
On the other side, cloud computing helps coaches to assemble extensive amounts of data on an athlete or team performance crossing hundreds of data points. The game is all about data more granular the data faster a team can organize, review insights, and progress.
2. Esports Will Continue to dominate
The global esports market is not unknown to anyone. According to the report suggest the industry has around 310 million online gamers in 2021. It’s expected to generate $1.5 billion in annual revenues, which included sponsorships, advertising, ticket sales, licensing, and merchandising. Esports is on verge of becoming the global industry where skilled gamers play at a competitive level.
In fact, over 380 million people watch esports worldwide both online and in person. Esports has given individual players a big platform to prove their worth and earn money. The players around the world can stream themselves to earn money or join more extensive organizations to strive for large prize money.
The players can connect with their fans on multiple social media platforms or can go live on youtube at their respective channels. On the flip side, fans can watch and support their favorite teams compete at the highest level on global events.
In Esports, analytics plays an important part. Analytics helps to better understand viewers which leads to a better engagement which in turn helps for brand sponsorship. In-game analytics also encourage additional engagement, as sports statistics help to improve the fan experience.
3. Impact of technology on Sports
The advancement of technology has a reflective impact on sports. The technology helped in measuring the performance of athletes. Helping referees, umpires, and sports officials to make more reliable decisions on the field.
Electronic timing measured by machines is operated to measure the performance times of athletes in sporting events like Athletics, Cycling, Skiing, and a lot more. In Athletics, electronic timing helps to measures the athlete’s reaction time which helped them to improve their performance much further.
The use of VAR in football is another example of technology that helped the sport’s officials and referees to make the right decision during the game. The VAR is continually watching the match and is used only for reasonable errors or serious missed events during match-changing situations like goals, penalty decisions, etc.
Hawkeye is another technology that has been used in cricket and tennis for a long time. Hawkeye provides all styles of the statistical report which included ball speed and trajectory of the ball after bounce. It was also used in Tennis to help them to decide whether a shot is in or out. The technology is still improving year after year and we will see a lot of advancement in the future as well.
4. Streaming service will replace traditional TV
Digital technology is having a great impact on traditional media. Watching a live sporting event which is available through the cable is the main place for entertainment for sports fans across the globe. While cable providers trying hard to keep subscribers hooked on traditional TV, the other media companies are looking for new innovations for delivering sports content to keep fans interested and engaged.
There is no denying the fact that cable television primarily the main place for coverage of all sports events around the world. But the evolution of technology given rise to streaming services. Streaming services are expanding year after year. It’s clear to say that streaming is the new way of watching sports without being available in front of the TV.
One of the biggest advantages of streaming services over traditional TV is the capability of personalizing the content. Users always get the relevant content with specific preferences.
Artificial intelligence plays a vital role in helping to achieve a personalized experience. AI systems are regularly progressing and learning and are able to give the relevant content by understanding the user’s favorite sports, teams, players, etc.
AI also allows voice controls and other notable features. Viewers can watch the replay, or check the score and get updates on their favorite team and players by just using their voice.
5. Rise of Sports Betting
Sports betting is something which is been adopted by multiple countries and there is no sign of slowing down. The sports betting market was estimated at US$85.047 billion in 2019. The statistical figure is just insane.
The sports betting market going to witness a considerable amount of growth as the government of most countries allowed legalizing sports betting across the country.
The market keeps on growing due to the popularity of sports around the world. The expanding popularity of sports like cricket, soccer, baseball has gained a lot of attention in the last couple of years. The popularity led to a decent rise in the sponsorships for clubs, teams, and players.
More than 20 countries already legalized sports betting, and more under consideration. The growth of this industry is unreal and it will continue to grow.
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