According to the statistical data of the American College of Sports Medicine (ACSM), it is predicted that from 2022 to 2023, the top ten global fitness trends are smart wearable devices, home fitness, outdoor sports, free weight training, sports to lose weight, one-on-one private coach, high intensity interval training (HIIT), body weight training, online live training and health consultant service. Due to the impacts of COVID-19 from 2020 until 2022, many fitness clubs around the globe are closing down. As seen, home fitness is getting more and more popular. And in 2022, the trend of home fitness ranks number two from number three in the world. Also from 2016 the smart devices of sports technology have been on the top 3 of the global fitness trends in consecutive seven years. In 2022, it ranks first in the world. It is the fact now that sports technology industry has attracted lots of technology leading companies to invest in the sports industry for their future development.
At the same time, SportstechX, as a well-known German digital analysis platform of sports technology, thinks that sports tech refers to the sports products and services provided to sports players, fans, sports games or team management; all could be counted as the range of sports technology. Prof. Tzyy-Yuang Shiang, as the convener of the Sports Science Division of Taiwan National Training Center, indicates that until August of 2021, the risk investment value of the global sports innovative technology has reached 786.8 million US dollars. In the sports industry, especially data analysis, sports performance monitor, virtual reality applications as well as sports wearable devices, etc. are the global popular investments. Moreover, many leading technology enterprises, such as Google Health and Amazon, start putting investments in the wearable devices and sports industry. The total gross output value of the sports industry in the U.S.A is about 520 billion US dollars. As counted, the output value of the sports services reaches 350 billion US dollars; sports equipment reaches 170 billion US dollars. As predicted, the sports technology industry has tremendous business opportunities.
From 2020 to 2021, in addition to the impacts of the global pandemic, the China-USA trade conflicts, the rising tensions of COVID-19 in the southeastern Asian countries, the year of 2022 is still a pandemic-sabotage era and many of us have faced similar challenges. Based on the industrial reports published by the World Federation of Sporting Goods Industry (WFSGI) and the McKinsey & Company, it indicates that the global sports industry was affected by the war between Russia and Ukraine, the rising interest rate, the global inflation, the increasing prices of raw material and the congested harbors of the suppliers, etc. Consequently, the purchases power at the end will decline. Comparatively, the consumer pessimism index are much higher than that of 2020. As a result, there is excess inventory and the export orders also decrease. In face of the financial difficulties, there are several suggestions to the sports industry, including three levers: smart pricing strategy, assortment of commercial strategy and proactive cost management as so to pass the challenges in the pandemic era.
Our TSMA team keeps on providing good services and promoting industrial interest as missions; also, we encourage all-people sports and we help members to steadily transform, upgrade and make a digital transformation so as to enhance their business and operational models while facing the unceasing pandemic impacts. Additionally, we recommends to our government to make good and attractive policies to stimulate all people to take part in sports, especially to the elderly group to do sports to improve their physical and mental health and prevent from diseases. Promisingly, the domestic sports market can be expanded and the manufacturers can produce more user-friendly sports products and services by making good use of digital technology. Meanwhile, they help the government to put policies into practice by making cross-field cooperation to build a sports platform, collect mass sports data on the clouds and run with intelligence system. Also moving with modern digital transformation, smart manufacturing, smart service and other smart strategies linked to the real environment to co-exist. Bearing the people, goods and environmental mutual beneficial concepts, local companies can realize the environmental social governance (ESG), enterprise culture, and core values to increase export orders. As trusted, excellent MIT images of Taiwan sporting goods industry will be widely agreed.