• Loading stock data...
Monday, January 6, 2025

$12T IoT Market Could Help Grow Sports, Fitness Companies

  • The IoT industry could provide outsized returns in the sports and sports adjacent industries over the next decade.
  • McKinsey estimates that the industry as a whole could be worth up to $12.6 trillion by 2030.
Design: Alex Brooks

In early November, consulting firm McKinsey & Company released a study on the global Internet of Things — IoT — market. According to the report, the IoT industry could unlock up to $12.6 trillion in value by 2030. The IoT industry spans a wide array of verticals, including the sports and fitness industries.

Whether it’s smart stadiums, connected fitness, or commerce, IoT and the connectivity of devices has the ability to fundamentally change industries. From the Olympics to the Tour de France to Major League Baseball, new IoT technologies have helped enable interconnectivity and fan engagement.

Overall deal activity for IoT technologies has already reached $10.9 billion and 611 deals across various markets.

In September, the NFL signed a new 10-year deal with Verizon worth $1 billion. One of the key tenets of the deal was a shift in focus from content generated to technology utilized.

  • The deal includes 5G Multi-View, which allows fans to see seven different live camera angles and AR overlays of Next Gen Stats.
  • Last year, Verizon invested over $80 million to pilot the 5G Multi-View at Super Bowl LV in Tampa.

Wearables, fitness, and health monitoring are another significant use case. Companies such as Whoop, Oura, and Apple will likely see increased adoption and more use cases as 5G technology takes over.

If you want to learn more about the impact of IoT on the sports industry, check out Front Office Sports Insights.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

An Unprecedented Year In Stadium Development Sets Up a Big, Busy 2025

Several major stadium and arena projects overcame obstacles to gain approval.
Sponsored

How Sportradar and the NBA Are Shaping the Future of Immersive Fan..

By transforming raw data into tailored, interactive content, Sportradar helps turn the NBA’s enormous fanbase into active participants.
Nov 24, 2024; Los Angeles, California, USA; South Carolina Gamecocks center Sakima Walker (35) and UCLA Bruins forward Angela Dugalic (32) jockey for rebounding position during the fourth quarter at Pauley Pavilion presented by Wescom. Mandatory

Players Era NIL Tourney to Add Women’s Basketball in 2025

Get ready for a South Carolina–UCLA rematch.
Sep 21, 2024; Columbus, Ohio, USA; Marshall Thundering Herd running back Ethan Payne (28) dives in for the touchdown during the first quarter against the Ohio State Buckeyes at Ohio Stadium. Mandatory

Portal-Depleted Marshall Bows Out of Independence Bowl

Louisiana Tech (5–7) will take Marshall’s place.

Featured Today

Ohio State wide receiver Jeremiah Smith (4) celebrates a first-down catch against Oregon during the 2025 Rose Bowl in Pasadena, Calif.

The Biggest Changes to College Sports Are Coming in 2025

Sweeping developments could affect the college sports foundation this year.
Dec 31, 2024; Chicago, Illinois, USA; Chicago Blackhawks center Connor Bedard (98) walks out to the rink before the Winter Classic against the St. Louis Blues at Wrigley Field
January 1, 2025

Glitzy NHL New Year’s Eve Winter Classic Showcased Connor Bedard’s Star Power

The business of Bedard—on full display—is crucial for the NHL.
Pop-Tarts bowl tropfy
December 27, 2024

‘I Want to Play in That Game’: How the Pop-Tarts Bowl Went..

The bowl has players saying, “I want to play in that game.”
NHL Winter Classic 2024
December 26, 2024

NHL, TNT Pinning High Hopes on First New Year’s Eve Winter Classic

Can the dream setting of Wrigley Field lift flagging viewership?
Oct 1, 2024; Portland, OR, USA; Portland Thorns FC defender Meghan Klingenberg (25) passes th ball against Santa Fe during the first half at Providence Park

Saudi PIF’s Influence on Global Sports Is Growing After a Big 2024

Saudi Arabia left even more fingerprints on global sports.
October 24, 2024

Endeavor, TKO Consolidate Sports Assets, Hoping They’re Better Together

The move brings On Location, Professional Bull Riders, and IMG under TKO.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
October 1, 2024

Nike CFO Says ‘Adversity Creates Sharper Focus’

Amid a downbeat but expected set of earnings, Nike says it sees signs of optimism.
Sep 11, 2024; Los Angeles, California, USA; The Nike shoes worn by Seattle Storm center Mercedes Russell in the first half against the LA Sparks at Crypto.com Arena.
opinion
September 28, 2024

New Nike CEO Must Do It

The biggest task the new CEO faces is intangible: Refresh the brand.
A Nike swoosh on a building in Eugene, Oregon.
September 23, 2024

Wall Street: Things Will Get Worse for Nike Before They Get Better

Some analysts are skeptical of how much the new CEO will change.
Crypto.com soccer advertising
September 15, 2024

The Champions League Is Back. So Is Crypto Sponsorship

Crypto investment is making its debut in the biggest European soccer competition.