As a sport that can be traced back to the original Olympics in Ancient Greece, boxing has gained support and popularity worldwide. In the United States, in particular, about 8.4 million people participated in some form of boxing in 2023, with 3.4 million casually taking part in the sport.
Moreover, the enduring impact of the sport can be observed in the rise of boxing legends throughout the decades, such as American professional boxer and activist Muhammad Ali. New Jersey natives have made a name for themselves in professional boxing too, including Justin Figueroa. Also known as “Mr. Atlantic City” to reference the city he hails from, junior middle-weight Figueroa currently has a record of 10-0. His most recent victory was against Antoni Armas for Boxing Insider’s Round 2 at Tropicana Atlantic City last July 2024.
Boxing has always been about skill, strength, and strategy in both casual and professional settings. However, the ongoing digital transformation happening across global industries, including boxing, shows that technology can also be a game-changer for athletes and fans alike.
Below, we explore the current boxing landscape and outline the key technologies that will help drive its continued growth and success around the world.
The global popularity of boxing as a sport contributes to its significant revenue and industry growth. As one of the four major boxing federations, the World Boxing Council reported a revenue of $2.69 million in 2020 alone. Meanwhile, the World Boxing Association, formerly known as the National Boxing Association, had a total revenue of $4.54 million in 2022.
Overall, the global boxing industry is projected to reach a market value of $32.82 billion by 2026, with pay-per-view profits generating about $640 million annually. Aside from pay-per-view being a crucial driver for earnings and viewership, the next section highlights technologies that contribute to the growth and sustainability of the boxing industry by transforming the way boxing is viewed, supported, and optimized.
Although pay-per-view events generate most of the profits for boxing events, the era of live streaming paves the way for an innovative viewing experience among sports fans worldwide. A PwC report notes that by 2025, digital streaming platforms for sports will see an average monthly viewership of 90 million, compared to only 57 million in 2021.
The accessibility of live streaming is also being aided by video platforms like Amazon and YouTube investing in live sports rights—bringing sports programming, including boxing events, to wider audiences. Digital platforms and streaming organizations are also integrating artificial intelligence (AI) to make boxing broadcasts more interactive and personalized, mainly through algorithms that analyze what viewers prefer in terms of players, fighting strategy, and commentary styles.
Beyond making it easier for fans to discover new boxers and tune in to competitions, boxing streams also enable sports enthusiasts to bet on the odds in major fights for financial returns. These matches are streamed online, so betting platforms are also digitizing payment methods for a more accessible and efficient way to participate in pre-match and live in-play betting markets. The betting platform Thunderpick introduced crypto boxing betting to ensure that users place their bets safely and securely, as cryptocurrencies use blockchain technology to process and record transactions on an immutable ledger. On top of providing users with crypto options like Bitcoin, Ethereum, and Dogecoin, the platform’s Live Mode showcases the most popular boxing bout betting markets, including Match Winner, Handicaps, Totals, and more.
The digital transformation of boxing is also instrumental in optimizing the performance of athletes themselves. While professional boxers already leverage wearable technology like fitness trackers to measure health indicators during training, AI is also being incorporated into boxing equipment to improve traditional training methods.
For example, the boxing startup Bhout has raised about $10 million in funding to scale its AI-powered boxing bag. Using gamification, biometric sensors, and machine learning, the innovative punching bag provides athletes a simulated experience of boxing with a human instead of a robot. The device rotates 180 degrees to track every move and identify the location, force, and type of strike with near-100% accuracy — ultimately helping boxers improve their techniques and prepare for fights.
Evidently, the boxing industry is incentivized to adopt digital transformation to not only increase its current earnings but also secure its future in the world of sports. Boxing organizations, coaches, and players must hence identify ways to embrace the tradition of this well-loved sport while still being open to the latest technological advancements and innovations, such as AI.
