Startups and Trends Getting the Ball Rolling in Sportstech
The sports industry has undergone a significant transformation in the past few years. Stadiums are finally welcoming fans back and most sports leagues have resumed standard operations after two years of lockdowns and restrictions.
How athletes train and compete, how spectators connect with and watch material, and how they build world-class venues are now all influenced by technology.
Emerging sportstech developments for the win
The sporting world is constantly evolving. With the digital revolution developing a steady momentum, shifting demographics, and shifting consumer preferences, it’s critical to adapt to new trends swiftly.
These are four sports tech developments to observe in 2022 as entrepreneurs and investors look to establish and finance new ventures in innovative, high-growth markets:
1. Fan Experience & eSports
eSports will continue to develop in the next few years, demonstrating how conventional sports adapt to the digital revolution and attract new fans. In the middle of a worldwide epidemic, the Esports sector has been one of the only sports entertainment initiatives to flourish commercially.
The fan experience is also continuously developing, thanks to new technology. This year, the use of 5G at stadiums is likely to grow, providing fans with a better and more immersive experience. For Qatar’s 2022 Football World Cup, Ericsson and Ooredoo have cooperated to deliver excellent connectivity across stadiums, fan zones, airports, and tourist attractions.
This technology will enable fans to Livestream games in high definition while also providing social networking capabilities. As a result, we expect more stadiums to follow the trend this year to match evolving fan demands and expectations.
2. Artificial Intelligence (AI)
While AI is already being used to support coaches in improving athletes’ performances, they plan to continue this trend this year with athletes themselves. In 2022, we expect the usage of AI in stadiums and arenas to accelerate.
AI now controls stadium access, drone cameras, and smart ticketing, but this development has enormous potential to expand. AI should improve the viewing experience and push live event interaction to new heights, whether through automatic game highlights or virtual umpires.
Artificial intelligence algorithms are frequently employed for sports analysis to enhance the precision of projections such as winners and final scores. This tendency will continue to expand in 2022 as the sports sector researches and exploits the benefits that data and AI can provide. The gambling industry will also be transformed by the effect of AI and the industry’s concentration on data.
3. Influencer Marketing
Influencer marketing has attracted increasing attention in recent years as corporations take advantage of the ability of sports celebrities to connect with target audiences. As digitalization advances, organizations have been concentrating on working with influencers, indicating that this trend will continue to gain popularity.
Instagram has now launched a collaboration feature in which a sponsored post is displayed on both users’ accounts simultaneously, driving engagement and reaching a larger audience. On the other end, Tiktok is currently the social media network to be on, as it is the fastest-growing social media network of all time.
Most people associate blockchain with only cryptocurrencies, but it has the potential for more than that. This distributed ledger technology is predicted to make an entry in sports relatively soon.
For example, cryptocurrency could enable direct investments in athletes/clubs in exchange for a portion of their future revenue. They can use NFT technology to mint tickets that are hard to fake and secure sports betting. Furthermore, blockchain technology has the potential to be applied in the battle against doping, fan engagement, and the protection of sports image rights.
Israeli startups leading the line in the global sportstech industry
One startup noticed the gap between players and coaches and developed technologies to save time and reduce stress for both parties. This Startup has cameras that could be strategically positioned throughout the sporting arena (field or court) to capture video data from many viewpoints.
The acquired data is then evaluated with AI and deep learning to determine the most significant plays, subsequently uploaded to a team-shared video gallery. Players could then go inside the folder at their leisure and watch particular films customized to their position, along with statistics (such as charts, tables, and tactical maps), which will help them grow as players. This technique is applicable at all levels, from amateur to professional.
Another startup offers automated video highlights-creation solutions for media-right owners and sports broadcast networks, from delivery of automatically generated short videos tailor-made and individualized for analytics to supply live footage.
This startup’s video technology scans real-time sports broadcasts, detects every element in a game, and creates personalized spotlights of every player, sports team, and event. Its video creation platform scans live sports broadcasts to assess each game’s events in real-time. It then creates easily accessible short-form videos that they may quickly publish across various web platforms.
Another Startup is a gaming and digital media technology firm based in Israel and Mexico. Its flagship product is used by more leagues across the world as their official Fantasy game.
The platform boosts fan interaction, gives fans more control over their experience, and gives the Leagues’ teams, players, and sponsors greater continuous visibility.
Currently, this startup works with soccer leagues and media partners as the exclusive official fantasy partner. The first division professional leagues in Israel, Mexico, Ukraine, Greece, and Serbia are among its clients.
A Future of Innovation and Clarity for Sportstech
While COVID 19 disrupted the sports industry considerably, it has encouraged the development and adoption of new and exciting sportstech innovations. Sportstech introduces new innovations and developments to provide a better experience for both athletes and fans.
Fans will have more access and better engagement to a wide variety of sports-related elements.
And athletes can get better insights through data-backed analytics which will in turn unlock more potential to help increase performance. While technological solutions cannot replace hard work, drive, or skill, they can help teams and athletes in performing more efficiently.