Our world becomes increasingly more digital every day. With data being labeled the “new oil”, it is no surprise that the professional sports industry is accelerating its adoption of the Internet of Things. The sports industry, which is already estimated to be worth $620 billion in revenues per year, is racing to bridge the chasm that exists between the physical world and the digital world in order to drive both revenues and fan growth. The undeniable reality is that the games are no longer just for the field, the court, the rink or the pitch anymore. Data, analytics, artificial intelligence and deep learning are quickly revolutionizing when and where fans engage with the product, ways in which teams can run their businesses, and even how players can now train.
THERE ARE A NUMBER OF KEY AREAS THAT THE IOT CAN HELP IN TRANSFORMING THE SPORTS WORLD
The Internet of Things is already at work in transforming the sports industry. By integrating the reams of data gathered by different IoT sources and leveraging smart connected systems, sports entities can drive business operational efficiencies, enhance the fan experience, and create incremental revenue streams. The ability to do this hinges on the sport teams’ overarching strategy for bridging the physical and digital world in innovative and compelling ways.
