Tech and Talent in Sports

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🏈 Tech and Talent in Sports

When the economy goes down the crapper and our pockets feel a bit shallower, there’s one thing we all still dish out the dough for, and that is entertainment. One of the largest entertainment industries in all the land is the world of sports.

Let’s take a look at how big this industry is, if it’s growing, and how you can bring your tech talent to the field (niceee):

Global Sports Industry Revenue

• Overall Revenue: The global sports market was valued at $484 billion in 2023 and is projected to grow to $651 billion by 2028, with an annual growth rate of 6.1%.

• Regional Contributions: North America generated approximately $84 billion in gross revenue in 2023, making up 16.4% of the global market.

• Sports Technology: The sports technology market, valued at $20.13 billion in 2022, is expected to continue growing with a 14.27% annual growth rate until 2032. Europe leads this sector with a 35.7% market share.

Major Sports and Revenue

• American Football (NFL): $11.98 billion annually.

• Basketball (NBA): $10.58 billion annually.

• Baseball (MLB): $10.32 billion annually.

What are some prominent tech trends affecting the sports industry?

AI and Wearable Technology: AI applications are enhancing player evaluation, fan experiences, and operational efficiencies. Wearables provide detailed data on athlete performance, helping to predict and prevent injuries.

Smart Stadiums: Investments in smart stadium technology, such as those found in Europe, enhance the fan experience with features like dynamic LED lighting and retractable roofs.

Sports Streaming: The rise of sports streaming apps has made live games, highlights, and exclusive content more accessible, catering to the digital preferences of modern sports fans.

Who are some companies I should look at?

Here are some top companies that are exploring some pretty cutting-edge tech with their product lines and could undoubtedly make use of your tech talent.

1. Nike, Inc. - (Nike Careers)

• Nike Adapt: This line includes self-lacing shoes that adjust to the shape of the wearer’s foot using a custom app. The Adapt technology represents Nike’s commitment to integrating advanced technology into their footwear to enhance user experience.

• Nike HyperAdapt: Another example of adaptive lacing technology, providing a futuristic approach to sports footwear.

• Nike React: A foam technology that offers superior cushioning and energy return, used in running shoes and other sports footwear to improve athletic performance.

2. ESPN (Disney) - (ESPN Careers)

• ESPN+: A streaming service offering exclusive live sports, original content, and on-demand videos. It showcases ESPN’s move into the digital streaming space, making sports content more accessible and personalized for viewers.

• ESPN Edge: An initiative focused on exploring and integrating cutting-edge technology such as 5G, AR/VR, and AI into sports broadcasting and fan engagement.

• Stats & Information Group (SIG): This division focuses on advanced analytics and data integration, providing deeper insights and enhancing sports coverage through data-driven storytelling.

3. Under Armour, Inc. - (Under Armour Careers)

• UA HOVR: A cushioning platform designed to provide a zero-gravity feel to maintain energy return that helps eliminate impact. It includes sensor-enabled footwear that connects to the MapMyRun app, providing real-time coaching and performance tracking.

• Under Armour Connected Fitness: This suite of apps, including MyFitnessPal, Endomondo, and MapMyRun, offers comprehensive fitness tracking and analytics, enhancing the digital fitness experience for users.

• Athlete Recovery Sleepwear: Developed with insights from professional athletes like Tom Brady, this product line incorporates bioceramic technology to aid in muscle recovery and improve sleep quality.

4. DraftKings Inc. - (DraftKings Careers)

• DraftKings Marketplace: An NFT ecosystem offering digital collectibles related to sports. It signifies DraftKings’ venture into blockchain technology and digital assets.

• DraftKings Sportsbook: A leading online sports betting platform that uses advanced algorithms and data analytics to offer dynamic betting options and real-time odds updates.

• DraftKings Daily Fantasy Sports: This platform leverages big data and predictive analytics to enhance user experience and engagement, providing fantasy sports fans with detailed statistical analysis and optimized lineups.

Bottom line, the Sports Industry not only isn’t going anywhere, but it has a very bright future ahead. AI and tech and playing a larger role in sports analytics, wearables, fan experiences, streaming, and more. As far as industries go, this is one of the most promising, and entertaining 🙂.

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