New technologies, investments, target groups: What trends are flowing through the latest Sportstech trend reports - and what data and figures show this? We took a closer look at eight trend reports, spoke to market observers - and summarized significant insights for you.
Sportstech market: These trends are here to stay
- Trend: The comeback of the sportstech industry is picking up speed
- Trend: Big players are revolutionizing the fan experience
- Trend: E-sports are booming, especially in Asia
- Trends: Fitnesstech is the new sportstech locomotive
- Trend: The live experience is exploding in smart stadiums
- Trend: AI optimizes talent scouting and training
Want to know where the Sportstech market is headed? The answers from La Source 2024, Market Research Future Report (February 2024), "Sports Technology Market Size, Share and Trends 2024 to 2034" by Precedence Research (September 2024), "Virtual Sports Market Size | Share and Trends 2024 to 2034" by Precedence Research (August 2024), "Global SportsTech Ecosystem Report 2024" by SportsTechX (June 2024), "Innovation challenges faced by sports organizations" by Teamworks and SportstechX (June 2024), "Global Sports Tech Report H1 2024" by Drakestar (October 2024) and "Sports Technology Market Size by Sport" by The Brainy Insights (August 2023) say the following:
The market will at least double in size over the next few years (see chart I). North America will defend its first place. The other big players, Europe and the Asia-Pacific region, will also grow significantly - and the Middle East is coming: according to the World Economic Forum, the sports industry there is set to grow at a rate of 8.7% by 2026, which significantly exceeds the global growth rate of 3.3%. In South America, Brazil is considered to be the engine of sports tech - and the upcoming market par excellence.
New investments in the sportstech market are therefore decreasing, while merger & acquisition activities are reaching record levels. In the first half of 2024 alone, the total value of company mergers rose to USD 27.3 billion, spread across 225 deals. Example of a significant transaction: US private equity firm Silver Lake acquires the remaining shares in Endeavor for USD 13 billion. The sports and media agency owns brands such as World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC).
A clear indication of the rise of e-sports: more money. In 2023, for example, e-sports representatives (and fitness technology companies - see trend 4) in particular raised fresh money: e-sports platform VSPO received USD 265 million in funding. Animoca Brands from Hong Kong raised USD 120 million; the company specializes in blockchain-based games. With almost half a billion participants, China is currently the world's largest esports market.
The electronic sports sector becomes big when gambling is included: "Sports betting is the largest and fastest growing sector and accounts for more than 50% of the virtual sports market," says Deepah Pandey, analyst at Precedence Research. In addition to traditional betting, this includes fantasy football, for example. Pandey views this virtual sports market separately from the sports tech market - she predicts that it will be worth over USD 90 billion by 2034.
How eSports events are changing the sponsorship market
Sportstech companies 2023: Investments over 100 million dollars
Rank
Company
Location
Company Description
Investment ($M)
1
VSPO
Shanghai
Organizer of e-sports tournaments New name since October 2024: Hero Esports.
265
2
EGym
Munich, Germany
Smart fitness equipment, personalized fitness programs
225
3
Tonal
San Francisco
Smart home gym
130
4
Technogym
Cesena
Fitness equipment
122
5
Animoca Brands
Hong Kong
Blockchain-based gaming, collectibles, metaverse
120
6
Urban Sports Club
Berlin, Germany
Fitness and sports center booking platform
105
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