Sports technologies represent an important part of a growing global sports market. Globally, the sports industry is valued at $AUD 250 billion per annum. Including sports licenses and media rights the industry is valued at $AUD 480- $600 billion annually (Source A.T. Kearney).
Australian households consume approximately $AUD 8.3 billion of sports and recreational goods and services annually, or $AUD 1,238 per household. In 2011-12 imports totalled $AUD 2,007 million, whilst exports amounted to just $AUD 286 million, representing just 0.1% of the global market (Source: Australian Bureau of Statistics 4156.0).
Although sports science and the application of technologies has served elite sports in Australia well, opportunities to fully commercialise sports technologies beyond this market (i.e. into semi-professional, ‘weekend warriors’, grass roots and consumer markets) have been under-utilised.
The ASTN represents and works with industry participants to identify opportunities and then enable transition to the mass sports consumer markets. This not only benefits sport, but also create spin-offs in complementary industries such as health and well-being, rehabilitation and disability.
The Australian Sports Commission’s (ASC’s) renewed focus on improving innovation and sustainability of national sporting organisations (NSOs) – as highlighted in its Winning Edge Strategy (2012) – also creates new commercial opportunities for the sports technologies industry across high performance, game development/ participation and sports administration.