Bruce Dias 
Sports brands have become so much more than just designers of apparel and equipment. In the past, it was often easy to associate brands like Nike, Adidas, and Puma (among the many others that exist today) with being the designers of sports equipment and clothing.
However, as technology has evolved, they have become giants within the field. This has led to them having a huge influence on the markets in which they are involved while simultaneously diversifying their products and offerings to enter new markets.
How Have Sports Brands Become Tech Giants?
Sport and technology have gone hand-in-hand in recent decades, although not all tech is often visible. While most will see how certain innovations have changed the sports that they like physically (instant replays, VAR, hawkeye tech, etc.), other technological innovations have been experienced that are not as easy to see.
These can often come in terms of the equipment that is used or the designs of the apparel worn. For instance, soccer players are now equipped with soccer boots that feature certain technologies that are designed to help them improve their performance, as are sprinters with their track shoes. The same can be said in terms of the jerseys that they wear, as there are technologies used to help them be more aerodynamic, etc.
As tech has continued to evolve, sports brands have evolved with it as they have continued to look to capitalize. Nike and Adidas have been among some of the most prominent in doing so, as they have continued to release sports performance-related apps.
Nike released the Nike Run Club App and regularly updated it to encourage people to keep training and running as much as possible. They offer various features that appeal to the running community, thus engaging them to use the technology, which can often be linked to their products. This can then create another revenue stream or potentially grab interest in certain products that they offer as a form of marketing. Adidas does something similar, as they have the Adidas Running app that can be downloaded.
Sports teams have also used methods that make them a technology giant. With eSports betting on the rise, there have been many soccer clubs worldwide that have decided to create their own teams of players that compete regularly.
It is not uncommon to find a FIFA eSports tournament being played by athletes who are signed to a professional club. It is often possible to find markets and odds released on sites that rank among the top instant withdrawal casinos and sportsbooks that feature these clubs as they look to grow their fanbase and appeal around the world.
Clubs can often capitalize on any success they may have in these eSports tournaments as they look to grow their fanbase. More fans that come on board can potentially increase sales, thus helping the club generate even more revenue.
Technology Brands Have Delved Into Sports
While sports brands have evolved and looked to get into the technology sector as a means of diversifying and remaining competitive in their industry, the opposite has also been experienced over the last couple of decades.
Live streaming and on-demand services have become popular ways for people to view their favorite shows and movies. These platforms have also become a popular way for sports fans to enjoy their favorite events.
Amazon Prime and DAZN are perhaps the biggest examples of this, as both continue to provide the markets they operate in with various sporting events. Fans in the UK are able to access Prime Video to watch Premier League football when Amazon has the exclusive rights, or they can access a plethora of tennis matches for certain tournaments. DAZN provides fans with football rights from abroad that are exclusive to them while also offering other sports like Boxing on-demand.
The global online live video sports streaming market is one of the most promising and exciting for tech firms, with a compound annual growth rate (CAGR) of 21.5% expected between 2022 and 2027. This is due to a change in viewing preferences, improved internet speeds and accessibility, as well as demand for cheaper services from traditional methods.
Will Sports Brands Continue To Turn Into Tech Giants?
Given that almost every single sport in the world has been transformed or revolutionized by technology in some instance (even if it is not physically obvious), it would not be a surprise if sports brands were to evolve further and look to become technological giants.
With brands like Nike and Adidas already doing as much as they can on the technological side in terms of the products and services they offer, competitors will need to make sure they do the same if they are to remain with them and not fall back any further. It might be tough, given the market share these two sports brands already have, but if they do not, then there is no way they will be able to remain relevant or exist for much longer.
