WHICH WILL BE THE HOTTEST TECH TRENDS IN SPORTS IN 2021?
There is a story running that during the midst of the pandemic there was a secret meeting of all the Bundesliga CLUBS where there was a consensus around the following statement – we need to bring all the Innovation planned for 2025 – to 2021!
Whether this meeting really happened or not, there is no doubt covid-19 has pushed forward everything to do with innovation. Regardless of a revised fan experience at home, a new contactless fan journey, digital sponsorship, and monetization of everything and anything to fill a revenue void; 2021 is going to be a game-changer in terms of implementation of many initiatives…a type of singularity moment that will change sports forever. Yes, many of these initiatives started back in September, but they will last through all of 2021 as they all come to fruition.
After reviewing over 1,700 startups during 2020, We would like to share the six most promising technologies that have been here for a few years, but have been accelerated and rapidly accepted as a result of the global pandemic. To clarify, there are more than six which will be part of our day to day but, we would say these six definitely stand out as a direct result of the pandemic and will continue to this upcoming year.
To make this more tangible we have provided examples of outstanding startups and solutions; some of which participated in our Global Virtual Accelerator which took place this past summer. Global Virtual Accelerator was launched specifically to address the needs of helping to bring sports tech companies in front of 13 of the world-leading clubs in an effort to spearhead this rapid acceleration of technology adoption.
Digitalization and Automation
This is now clear, that all processes have been dramatically impacted by the pandemic where we can see now a new level of openness by the end uses for no-human CRM processes and a new level of digitization and automation which are getting fully implemented from the customer lead journey to fan engagement monetization and more.
THE 6 HOTTEST TECH TRENDS IN SPORTS IN 2021 + EXAMPLES OF GREAT STARTUPS AND SOLUTIONS
1. Artificial intelligence:
Artificial intelligence is another word for smart technologies. AI takes information and has the ability to process it, without the need for humans to step in. Undoubtedly, it will change society’s ways of doing business. For example, Condense Reality’s software solution enables broadcasters and content creators to capture and stream volumetric video in real-time.
Also, it has become more and more common for coaches to deduct their strategic decisions by computers. Respo.Vision leverages the latest, cutting-edge AI research and uses it to watch & analyze football games providing scouts, managers, clubs & federations as well as media and bookmakers with an unmatched depth of knowledge. Further, Full Venue is an AI solution for data analytics, developing machine learning models to create customer segments based on predictive attributes. The smart segmentation strategy can be widely used in order to increase conversion and retention rates, reduce cost per acquisition, boost CLV and increase your marketing ROI.
Blockchain can be defined as “a powerful, open-source digital platform enabling ‘smart contracts’ which automate the exchange of products, content, and money across a peer to peer networks, all protected by cryptography.” This enables us to realize transactions in a more secure, transparent, and automated manner.
For example, Tixico is an event management platform, which turns tickets into a virtual asset and offers support to event organizers to fund their events. It reduces counterfeit risk and ensures that resellers can potentially earn money by selling timely purchased tickets to highly-requested events in a managed, safe, and controllable way. Also, Lympo is making the world healthier by rewarding people for exercising and leading healthier lives. With the help of blockchain technology and fitness gamification, users are rewarded with LYM tokens through the Lympo Run app, for completing walking and running challenges.
3. 5G in sports:
5G is a way to transform the way we have been watching Sports in the past. 5G networks are now rolling out across the world, delivering ultrafast speeds, greater capacity, and ultra-low latency.
For instance, VOGO develops, markets and distributes live & replay, audio and video solutions for spectators and professionals in sports venues. Further, BBox develops engaging Augmented Reality (AR) content that fans can access through our collectible items, the LADS. The LADS are high quality replicas of football jerseys allowing fans to have AR experiences like photos with players, 360º stadium tours and infographics about players performances.
Fans require more and more during a game. They are not only satisfied with having a live match in front of them, they want analytics, statistics and additional information about the players and the opponents of their favorite teams.
4. Internet of Things (IOT)
Internet of Things can be defined as “the network of physical objects—’things’—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet.” It is undoubtedly changing the way in which teams operate, athletes train, and fans engage.
To give you an idea, during the pandemic Handi was created. Handi builds touchless, IoT connected, hand hygiene technology. Pioneering intelligent sanitization as a service that keeps you updated as it is running low as well as tracks the use of fans, in essence rewarding fans for cleanliness.
Organizations are using IoT to improve specific areas like Athletic development. To illustrate, Trainesense is a SmartPaddle wearable technology that measures the propulsive force of swimming. SmartPaddle App controls the SmartPaddles during the recording session and transfers data to the Analysis Center.
5. Big Data:
Big data is a field that treats ways to analyze, systematically extract information from, or otherwise, deal with data sets that are too large or complex to be dealt with by traditional data-processing application software. Today, its use is becoming more popular within the sports industry, in different ways.
As proof, SkillCorner is a football broadcast tracking data provider. Helping teams, media, and betting operators with innovative data, insights, and products. As well as PumpJack DataWork sports-technology service that helps teams and venues gather and refine their fan data to better understand their audience, make better business decisions, and achieve new revenue opportunities through technology.
Over-the-top (OTT media service) is a streaming media service offered directly to viewers via the Internet. OTT bypasses cable, broadcast, and satellite television platforms, the companies that traditionally act as a controller or distributor of such content.
Inthegame lets viewers become a live part of the action and play while watching their favorite stream Viewers can predict not only the outcome of each game but also which events will happen in real time, competing for points, prizes and dominating the leader-board. Likewise, VICI FanFest allows you to enjoy sports with your favorite players, family, friends, and fellow fans through one platform.
Obviously, premium OTT Services of clubs would lead to an increase in interest of the fans. This would lead to an increase in club loyalty and in general engagement between the fans and the culture of the clubs.
Vanywhere is a platform that instantly connects influencers and YouTubers with their fans and followers, through live, 1-on-1 video, voice and chat.
Covid-19 is not gone yet but, with the global vaccine operation in process we can say it’s the beginning of the end.
Btw, to support the massive growth expected in 2021, at HYPE we’ve introduced a fast track for startups enabling them a shortcut in getting a straight PILOT with the industry leading Brands, Clubs and Federations.
Imagine getting a pilot with Philadelphia Phillies, French Football Federation, lululemon, Volkswagen AG or ESL Gaming.Feel free to apply here to learn more: https://bit.ly/37VVgpv