Five trends are on course to radically change the sports industry in the next decade.
World Sports are evolving year after year. Everyone needs to adjust accordingly to the change. Sports are getting united with technology and innovations day by day to take everyone’s experience to the next level. Today technology is playing a crucial role throughout the entire sports industry, from recruitment to the identification and training of athletes, from audience experience to media and management and meanwhile, it provides an unforgettable experience for fans.
Let’s look at the megatrends in the sports industry that will have a greater impact in the future.
The world of sports is also globalizing. In the era of the internet, globalization is becoming very common and achievable. The competition is getting very tough due to globalization and the best one can get the most of the benefits. Nowadays, viewers want to see sports wherever they are!
Sports Clubs also are reaching out to acquire new fans abroad. So, in brief, the consumer, media, rights holders, and sponsors are all going global. Whether it’s a company or an individual, everyone wants to expand globally. Being a company and having global customers or being an individual and having a global reach, it’s always satisfying to have it. In the same way, it’s equally vital to have global audiences, global fans, and global leagues in the field of sports.
One of the biggest advantages of streaming services over traditional TV is the capability of personalizing the content and accessibility to the global. Users always get relevant content with specific preferences.
Artificial Intelligence (AI) will bring innovative and dynamic possibilities to the sports industry. AI already brings some changes in the way of playing sports, watching sports, data analysis of athletes, and training methods. By using relevant data, AI will help you to improve your
performance both on the ground and off ground. AI will also change stadiums into examination halls as fans/crowd in the stadium will watch player statistics right away on their phone. The health of an athlete will also be impacted by AI. With the help of data, predictive and diagnostic capabilities will rectify. This means it will not only be recognized when an athlete gets exhausted but also under which possibilities. AI will also provide data on the athlete’s mental and emotional state.
The Esports industry is increasing day by day. Its fan base and users are increasing significantly. The Increased fan base and the growing popularity will help esports to be at the top of the sports industry in the upcoming years. Esports have given individual players a huge platform to prove their excellence and earn money from any part of the world. In Esports, analytics plays a crucial part. Analytics enables a better understanding of viewers which leads to better engagement which in turn helps for brand sponsorship. The greatest advantage of the Esports industry is that it can be accessed anywhere in the world. The player just needs a computer/laptop and a good connection to the internet to play the game with anyone around the globe. There is no doubt that the future of Esports is bright.
Esports will keep on rising in the future and we will see more participation soon. A roughly estimated data shows that about 380 million people watch Esports worldwide both online and in person.
There is not much talk about women’s participation in sports or women’s sports. People think that sports are only for men. They are wrong. Each sport is meant for both genders. The increase of women’s sports is evolving and that is something you have to accept. Thanks to FIFA Women’s World Cup 2019, was one of the events, which emphasize the growth of women’s sports around the world. The event proved to be the biggest hit, breaking earlier ticketing and broadcast records.
Women’s cricket is also evolving day by day. Viewership and participation are also increasing. Some challenges are there in women’s sports which include inadequate prize money, less infrastructure, and fewer women coaches. These challenges must be tackled soon and then this industry will gain massive growth.
Sports Business Managers
Sports business managers are responsible for handling the business matters of athletes and sports teams. Sports business managers will be in high demand in upcoming years to connect all dots of requirements from A to Z of a sports team and athlete on a single paper. Sports business managers are responsible for sales, sponsorship growth, and brand building via merchandising, licensing, and partnerships with different companies. The primary job of a sports business manager is to make it easier for their customers to concentrate on winning without having to focus their time and energy on the business side of sports. They will be responsible for handling their all business.
The last decade has seen tremendous innovation from technology to Esports, which has fundamentally redefined sports and changed the way we play and practice. The fast pace of change means that, in the next 10 years, this will only accelerate.