5. According to him, the stigma of sports betting, an activity historically linked to criminal activities, is fading away. Fortunately, some areas of the sports entertainment industry got to thrive during the crisis. It is no wonder that more and more organisations within the sports industry are moving to automated reporting through natural language generation. As chief executive of Cricket Australia Kevin Roberts put it, this was “bigger than cricket and bigger than a sporting event. This is about empowering women and girls the world over.”. Tourism Driving Facilities. In particular, a few key trends are expected to drive growth forward, and present new opportunities to businesses: To take advantage of these trends and opportunities, the Business Research Company recommends in their report that sports businesses consider these suggestions: See here for information on courses in Sports Management at Torrens University. Contact us for strategy, sponsorship, commercial, content, operations, investment and communications consultancy services. The impact of the T20 World Cup went far beyond just what happened on the field. Just under half of this turnover is generated by the spectator sports sector. More regions in Canada will also allow for sports betting in the future. Formula 1 drivers Charles Leclerc, Alex Albon, George Russell, Lando Norris, Nicholas Latifi and Antonio Giovinazzi were on the grid for the second instalment of the F1 Esports Virtual Grand Prix in April 2020. This is particularly true in global football. Seattle Mariners’ Kyle Lewis Wins AL Rookie Of The Year, Seattle Seahawks At Buffalo Bills – Seattle Starts Crucial Playoff Stretch With Buffalo, The Ins And Outs Of The Biggest US Sporting Leagues. The sports with biggest financial market share: As we’ve already pointed out, the total worth of the sports industry is estimated to be around US$500 billion. It’s equally important that player prop markets are offered on an increasingly long tail of leagues across the world. Deloitte also expects more partnerships with streamers and brands integrating themselves more in-game. The government is cautious because large gatherings of people help the disease to spread quickly. All of this means more opportunities for brands and sponsors to leverage esports (and streaming platforms such as Twitch, YouTube Gaming and Mixer) to build brand love, customer loyalty, and drive revenue. It helps build new angles and new stories by uncovering novel insights. Stats Perform’s unique historical database gives clients access to a treasure trove of data not available anywhere else. If you would benefit from the advice of a sports agency, Strive Sponsorship can help. The biggest companies driving growth across the whole industry: Unlike some other industries (such as fossil fuels) that are dominated by only a few mega corporations, the sports industry is made up of a large number of diverse, smaller players across vastly different markets. Torrens University Australia Limited ABN 99 154 937 005, CRICOS Provider Code: 03389E. PAC-12 Football Predictions – Will Oregon Go 2-0? In-game betting will be a key driver of growth. So, competitive sports and all the business around it, creates roughly US$250 billion in turnover each year. More tourism related dollars are being invested into venue development than ever before. Also, some U. S.-based casinos may accept more Canadian players, too, if the legislation gets more liberal over time. Also, if college athletes begin receiving compensation, another issue is the burden this may place on taxpayers for public institutions, as well as on smaller schools that generate less revenue. It might be unfair to lump this in with sports trends because sports trends can be … What this means is that those journalists are free to pursue the more in-depth analysis, speculate on the future of sports teams and players, and generally focus on pieces driving fan engagement, while leaving the monotonous work to the robots. China and India are among two of the biggest emerging national markets, presenting a lot of opportunities for business expansion across the industry. Football is returning, and for those that like a punt it could not have come sooner. Companies such as Twitch, a popular streaming website, know that; as a result, they are investing in growth during these troubled times. 2020 will be a very atypical year for this industry, mostly because of the coronavirus pandemic. Sports brands are now recognising esports streamers as influencers and celebrities in their own regard, with huge brand deals being signed by streamers. But, it is a well known fact, that all sports need their fans desperately to be able to sell their products. Follow us today on Facebook and Twitter! New Olympic Sports. Why the Sports Industry is Booming in 2020 (and which key players are driving growth) Business February 10, 2020 If you’re passionate about sports, now is a great time to get into business. As we look forward, the good news is that the prevalence of activewear across the fashion industry is going nowhere. Close behind are the mega sports club franchises such as the Dallas Cowboys, the Yankees, and Real Madrid. For the first time, it exceeded the billion-dollar revenue mark, achieving a 26% year-on-year growth rate in the process. As the sport increases its global reach and profile, football fan culture is experiencing a paradigm shift, with many supporters feeling attached to certain players, rather than the abstract concept of a club. Data is everywhere, whether it is football, cricket, baseball, NFL, it really does not matter, data rules the roost and is becoming more prevalent. Most competitions are expected to return before the end of 2020 or at least in 2021. In-stadium fan experiences could be revolutionised as mobile devices provide instant replays, live-TV graphics, faster connectivity, and expedited food and beverage orders. Although a balance needs to be found between what you can do in a personal capacity versus what you obliged to wear for your team. Although it may not happen in 2020, this move gives college athletes the opportunity to become their own brand. read more. The USA will continue to grow at a rate of 6%, while South America is also expected to experience growth at a rate of 5.3%. The 2019 edition of the competition was the biggest ever, smashing ticketing and broadcast records. The strongest emerging markets in 2020 and beyond. Another trend I see happening is Esports, it is becoming more and more popular and with sport being suspended worldwide it was no surprise to see Esports grow even bigger. Sports Technology Market Size and Share 2020 Global Industry Analysis By Trends, Key Findings, Future Demands, Growth Factors, Emerging Technologies, Prominent Players and Forecast Till 2026