Australian sports technology is now a $4.25 billion industry.

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New analysis by the Australian Sports Technology Network (ASTN) shows that the local sports technology sector is as valuable as the fintech startup sector, with more than 750 companies involved.

The second annual release For the 2023 Sports Innovation Report, ASTN sets the value of sports technology $4.25 billion when the sector starts growing for the 2032 Brisbane Olympics. It now represents 11% of the sports industry as a whole.

ASTN chair Dr. Martin Schlegel said they found it. 758 companies now employ 13,438 people in the local sports technology ecosystem. This figure shows that the sector has grown by 11.8 percent. In the year In 2012 with 284 sports technology and innovations in the top ten years since its launch Companies.

“The rapid development of sports technology is shaping the sports industry as we know it and opening up new revenue streams,” said Dr. Schegel.

“The second edition of the ASTN Sports Innovation Report dives deep into the emerging sector – to inform industry leaders and provide new growth opportunities for sports technology startups.”

ASTN CEO Dr. Martin Schlegel

ASTN CEO Dr. Martin Schlegel

The report identifies 115 companies as industry leaders, including brands. 2XU, SWEAT, VULLY and PTP. Those companies generate about 87 percent of the industry’s total revenue.

“Australia’s sports tech sector has proven to be emerging from its current start-up stage as it comes head-to-head with Australia’s growing fintech sector. Australia continues to prove the same. It is one of the world leaders and long-term pioneers in sports technology and innovation,” said Dr. Schlegel.

The sector outperformed expectations in this year’s report, with the sector outperforming by $4. billion revenue.

Australia’s growth in sports technology has been matched by a wider increase globally. is it. It is considered worth it. 22.9 billion dollars (A$34.65bn) by 2022, and is expected to grow by 13.8% annually. to US$41.8+ billion (A$63.2bn) by 2027.

Going to gold

Meanwhile, Dr. Schlegel believes The Brisbane 2032 Olympic and Paralympic Games will provide new opportunities for the sector to develop new technological solutions.

“We are building one of the most advanced and integrated sports technology ecosystems in the world. It will lead to a number of major events in the Australian sporting calendar over the next decade.

“We can expect to see new technologies from AI, big data analysis to mobile, non-invasive Wearable sensors and smart materials are making inroads into the sports technology market. constants. As a result, new companies are established that provide future opportunities Development of the sector”.

10 trends

The report identifies 10 key themes that present strategic opportunities. For the industry, From ESG to active living, fitness and wellness, and smart apparel, which has accelerated digital transformation across leagues, teams and federations.

Many of the emerging trends, such as aArtificial intelligence, emerging sports and women in sports technology are part of ASTN’s five-year strategy.

According to Dr. Schlegel, startups, companies, founders, government and the wider sports industry should be aware of these themes, looking at how they influence current activities, how they need to develop and adapt, and what opportunities they present.

“To continue the sector’s progress, Australian sports technology companies must keep up with global trends and capitalize on these opportunities to reap the rewards over the next decade,” he said.

“There is still a huge amount of untapped opportunity in the local sports technology ecosystem. Australia’s sports technology sector is emerging as an excellent incubator and proof-of-concept market with our global partners recognizing the potential and quality of sports technology solutions found here.”

Key findings

Key report findings:

  • Sports Technology Recruitment by State: Of the 13,438 people employed in sports technology, ASTN estimates half (47%) of sports technology jobs are based in Victoria, followed by NSW (27%) and QLD (18%).
  • Sports technology areaThe majority of sports technology companies are based in Victoria (41%), New South Wales (31%) and Queensland (19%) – with the highest activity in the three key metro areas including Melbourne, Sydney and South East Queensland.
  • M&A activity has decreasedIn FY23, mergers and acquisitions (M&A) and capital raising activity declined compared to FY22 – due to increased interest rate and inflationary pressures resulting in a significant squeeze on access to investment capital. M&A activity remained at around $500 million in FY23, compared to over $1 billion in FY22.
  • ASTN companies are paving the way.Sports technology companies recommended by ASTN’s programs now employ 270 people, and thirty of the 70-plus alumni have raised a total of more than $60 million in capital from ASTN’s Accelerator program.
  • Mass participation and active living dominate the market.M: ASTN Most companies (56%) offer their products and solutions to the Mass Participation & Active Living Market, followed by the Sports & Leisure Market (46%) and Professional & Elite Sports (14%).
  • ICT continues to be the largest technology category.Most companies develop solutions in information and communication technologies (ICT) (66%), followed by advanced equipment (23%) to build their products.
  • New trends in sports technology offer new opportunitiesASTN’s Top 10 Themes:
  • 1. Artificial Intelligence (AI);
  • 2. Active Living, Fitness and Health;
  • 3. Web 3.0, Metaverse, Gaming and Blockchain;
  • 4. Tomorrow’s fantasy sports
  • 5. Modern clothes, tools and wearables
  • 6. ESG
  • 7. Sports Digital Ethics, Privacy and Security
  • 8. Women in Sports Technology,
  • 9. Investment and Venture Capital,
  • 10. International trade and trade relations.

The full Sport Innovation Report 2023 can be downloaded here.

ASTN Sports Innovation Report Information

The 2023 ASTN Sports Innovation Report highlights

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