The global sports industry is expected to be worth $440.77 billion in 2021. Even though the Covid-19 pandemic has negatively affected the sector, we can now see that normalcy is resuming in the sector with some new regulations.
Sports tech is not a new thing, and investors are looking for ways to profit from it. Technology influences how athletes train, how fans engage with content and how investors make decisions. The following are some of the most lucrative sports tech investment options you can consider today:
Sports performance tech
There are tons of technologies that can help improve athletes’ performance. For instance, wearable hydration trackers come in handy when athletes are in high-demanding sports. Respiratory monitoring is also essential for checking the respiratory levels of the athletes as they are in action. Athletes also need to sleep enough for optimal performance on the field, and a gadget that monitors their sleep patterns will thus be important to make it a reality.
A typical athlete faces a lot of challenges on the field that can lead to injuries. For instance, a football player can have a head-on collision that leads to injuries. Some of the injuries are also acquired on the training grounds. Gadgets that help athletes recover fast are always welcome in the sports industry. Recovery tech is meant to expedite the rehab and recovery processes.
Hydrotherapy is a perfect example of a technology that helps athletes recover by reducing stress on the injured joints. On the other hand, athletes that are looking for full body recovery rely on Cryotherapy technology.
Projections indicate that the online gambling market is likely to be worth USD 97.69 Billion by 2025. There is a lot of technology that revolves around online gambling, and it is a worthy investment idea.
Modern gamblers are always looking for data to help them place a bet on various teams or individuals. Creating the best sports betting app may take time but worth exploring. You can as well invest in existing tech firms that offer online gambling products. Selecting a niche within online gambling such as sports or casinos can be a good start.
Sports content tech
The demand for sports content has been on the rise over the last decade. We can now see sports dedicated channels that rely on various technologies to deliver content to viewers. Modern fans are opting for streaming services instead of pay-TV.
Investing in on-demand content products is an awesome approach to making money in the sports content niche. Some companies have free content, while others have different subscription packages that target different classes of fans. Understanding your target customers will come in handy if you want to create powerful technology-backed content that relates to the target customers.
In-venue technology tech
A typical sports field has many gadgets that help create the right atmosphere and make the right decisions. For instance, football has adopted Video Assistant Referee (VAR) that helps the referee make informed decisions during a football match.
The officiator can always check the recorded clip and either accept or rule out a goal. Another perfect example is the technology that displays advertisements during a live match and helps brands reach thousands of people. Technology also comes in handy when fans are being admitted to the field as tickets can be checked for their validity.
A typical game that involves two teams has loads of data. For instance, data analysts in a soccer match will be interested in knowing the number of goals, the number of assists made by a particular player, the number of kilometers that a player runs on the field, the most valuable player, to mention just a few.
Such data cannot be collected and analyzed by just observing, which is where tech comes into play. Data analytics is needed by the team owners, financial analysts, coaches, the technical bench and gamblers. You can invest in tech that helps generate such data and help various players make informed decisions.
Gaming has become a billion-dollar industry that attracts loads of investors. Competitive video gaming started like an entertainment resolve but has now become a full-time career for many people. eSports is now recognized as a sport, as evidenced by organizations that scout and sign players like other sports. Celebrities like Michael Jordan and Drake are some of the names you are likely to encounter in this sector.
Investing in techs such as games or even gaming components for eSports will be an awesome idea to make money. You can as well invest in existing companies that have already established themselves in the eSports sector.
Sports tech is very wide, and you may not be in a position to invest in every idea. You can invest in one or two of the ideas we have highlighted above, depending on your skills, likes and preferences.