Technology And Innovation Will Shape The Year 2021. While The Traditional Sports Industry Was Heavily Impacted By Covid-19 In 2020.
Technology And Innovation Will Shape The Year 2021. While The Traditional Sports Industry Was Heavily Impacted By Covid-19 In 2020, sports tech and health tech, in particular, had a prosperous year. Peloton is three times more valuable than established sports brand PUMA. (As of January 13, Peloton’s market cap was 45.647BI and PUMA SE’s market cap was 13.28BI).
In 2021 and beyond, I believe this industry will continue to be a good choice for investors. Success stories within this space inspire confidence among the investor community, as technology is now seen as an imperative element for business success.
With the global sports tech market expected to amount to $31 billion by 2024, these stories are only the beginning. Technologies such as 5G and AI and the power of harnessing data to personalize experiences, a megatrend poised to dominate this decade, mean that the window of opportunity is only going to get bigger. To seize the moment, smart investors should look at the following core areas; connected fitness, health and well-being, fan engagement and esports.
This news was originally published at Forbes.