Source: Australian sports tech sector to grow further before Brisbane 2032, says study

  • Australia’s sports technology sector is valued at AUS$4.25 billion and is expected to grow further leading up to the Brisbane 2032 Olympics and Paralympics, according to a study by the Australian Sports Technologies Network (ASTN).
  • The ASTN foresees continued growth for the sector with the emergence of new technologies in preparation for Brisbane 2032, including AI, big data analytics, wearable sensors, and smart materials.
  • The sector has grown at a rate of 11.8% per year since the establishment of the ASTN in 2012, with the number of companies increasing from 284 to 758.
  • Victoria accounts for 41% of the companies in the sector, while New South Wales and Queensland also have a significant presence.
  • The global sports technology industry is estimated to be worth $22.9 billion in 2022 and is projected to grow at a rate of 13.8% per annum, reaching $41.8 billion by 2027.
  • The rapid growth of sports tech is reshaping the sports industry and creating new revenue streams.
  • Australia’s sports tech sector is now on par with the country’s fintech sector, showcasing its advancement and competitiveness.
  • Australia is recognized as a global leader and pioneer in sports technology and innovation.
  • The sector’s revenue has exceeded expectations, surpassing $4 billion according to the report.

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