Internet of Things (IoT) in Sport - Thematic Research

An analysis of the current IoT landscape, and how sport has begun making moves into the sector.

Sports fans are now, more than ever, watching sports digitally, through streaming apps, for example. This gives sporting organizations a chance to develop a closer relationship with fans. Leading clubs are developing apps that make fans feel more connected to the club than ever before. Aside from just smartphones, IoT can help augment this relationship (sometimes using artificial intelligence) through the provision of real-time statistics. Formula One’s partnership with Amazon Web Services (AWS) is a good example. Clubs that can demonstrate high levels of fan engagement are more attractive to sponsors, as this means more opportunities to show off their brands.

In terms of on-field performance, sports teams have been using devices such as heart rate monitors for decades. But the myriad of IoT devices springing up in the late 2010s have brought increased value. Teams can now track many different variables in their players, such as speed and action success. With margins between winning and losing now so fine, clubs and individuals should make good use of these devices. Also, with player safety a growing concern in high-impact sports such as football and rugby, IoT devices in helmets and mouthguards can help to limit the impact of concussions and reduce the risk of long-term injury.

IoT can help with fan engagement in a variety of ways. It can be used to drive fan engagement by providing statistics and match information to supporters. Sensors placed on players or match equipment, such as balls and player armor, collect information that is processed and sent to broadcasters. This provides those watching at home with greater detail about the match.

An early example of such technology was the addition of a yellow line on the screen during NFL matches to show where the team needed to get to gain a first down. While simple, it engages the fanbase further in the game. Since then, much more detail has been added to the viewing experience - whether pitches are in the strike zone, lines to show ball flight, and green lines for field goal ranges.

Key Highlights

• The global IoT market was worth $622bn in 2020, up from $586bn in 2019, and will grow to reach $1,077bn by 2024, with a compound annual growth rate (CAGR) of 13% over the period, according to forecasts. Enterprise IoT dominates the overall IoT market, generating 76% of total revenue in 2020. This dominance will continue for the foreseeable future. The analyst expects this segment to account for 73% of the overall IoT market in 2024. The enterprise IoT market will grow at a CAGR of 12%, and consumer IoT revenue will record a CAGR of 15% between 2019 and 2024.
• In 2020, the overall IoT market saw sluggish growth as COVID-19 interrupted IoT deployments. In the consumer IoT domain, the connected car market declined by 10%, and the automated home segment saw just 1% growth in 2020. The top performer during the year was the wearables market, which saw 16% revenue growth. Within enterprise IoT, smart cities and Industrial Internet saw moderate yearly increases of 8% and 7%, respectively.
• In terms of on-field performance, sports teams have been using devices such as heart rate monitors for decades. But the myriad of IoT devices springing up in the late 2010s have brought increased value. Teams can now track many different variables in their players, such as speed and action success. With margins between winning and losing now so fine, clubs and individuals should make good use of these devices. Also, with player safety a growing concern in high-impact sports such as football and rugby, IoT devices in helmets and mouthguards can help to limit the impact of concussions and reduce the risk of long-term injury.
• It’s vitally important that sports teams aim to keep their players in the best condition possible to maximize their chances of success, leading to financial benefits if the team is successful. Along with the rise of sports science, the prominence of analytics has soared in many sports in recent years because of modern data capture capabilities. Teams can now record hundreds of metrics for each player and pinpoint areas for improvement. This differs greatly from decades past, where players were in worse shape and often didn’t eat or train correctly.

Scope

• This report provides an overview of IoT, and the advancements the technology has made over the last decade.
• The current trends dominating IoT as well as the trendsetters leading the industry, and how sports teams have begun to monetise the technology for their own benefit in unique ways.
• The report provides a look at the potential future of IoT in sport, and the potential challenges they face.
• An in-depth look at the value chain for IoT, and what generates revenue for the biggest platforms in the sector.

Reasons to Buy

• For those wanting an in-depth analysis the current landscape of IoT, and how the sports world has begun to utilise the technology to increase their business through increased fan engagement, among other avenues.
• For those wanting a sense of the current performance of many of the leading IoT platforms, and the challenges associated with the sport incorporating itself into the sector in a larger and more effective way.
• the analyst's thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.