Sport is a cutting-edge area of physical activity that represents a $1 billion industry for football, hockey, cricket, basketball and American football. There is increasing pressure on the player’s performance to maintain their league scores. The sports analytics market reads trends from the sports field, keeps track of the competitors, leverages the team performance, pays close attention to the players’ fitness and manages the social presence of the teams. Fitness based apps and wearable devices have enhanced the presentation of the players when playing in the arena. With increased monitoring and follow-up to access competitive sports, this market has experienced considerable growth.
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Sports Analytics Market Size
Experts have estimated that the sports analytics market size will expand from $ 2.5 billion in 2021 to $ 8.4 billion by 2026. The expected CAGR is around 27.3% for this period.
Sports Analytics Market Share
The sports analytics market share has always been consolidated more in the European countries due to football. The football league nations like Germany, Spain, and the U.K. aggressively use A.I. Sport-based technology to analyze the teams participating in UEFA Champions League and Premier League. Sports analysis compiles information about individual player performance, race rate, passing patterns, and frequency of touchdown passes.
Whereas the trend in North America has estimated an increase of more than 28% in 2020 for sports-based analysis. Exponential growth in video analysis, as well as aggressive investments in A.I. technologies based on predicting the performance of basketball teams by the National Basketball Association (NBA), Major League Baseball (MLB), and the National Football League (NFL) have excelled in the market.
India is a key player in this modern sports technology in Asia and the Pacific. The enthusiasm for international cricket and IPL matches makes it worthwhile to use sports analysis while doing business on and off the field.
Key companies investing in the sports analytics market are SAP SE, Oracle Corporation, SAS Institute, IBM Corporation and Sportsradar AG.
Sports Analytics Market Growth
Sports is a business, and all the major sports leagues invest in marketing techniques to enhance the game. Team managers use sports analytics software to access data about real-time game viewers for a match, sale of merchandise, food and beverage sales during a game, and promotional activities on social media. This gives them a unique benefit of knowing the pulse of people concerning the performance of a particular player or team. They can then use creative strategies to improve themselves vis-à-vis their competitors.
Major leagues use tracking software to analyze biometrics, pre/post game predictions, and tailored feedback software for players to enhance their sportsmanship.
Sports Analytics Market Value
Team managers are formulating winning combinations with A.I. based applications that can predict future games. ML algorithms can especially recommend players to take certain positions based on their performance on the pitch, offshore performances, pitch conditions, and the opponents they face. Sports analytics is also used to access the fan management devised for marketing campaigns targeting fan bases of certain players and teams. Big Data Sports Analytics calculates the team’s revenue through the sale of goods, tickets, media rights and sponsorships.
The sports world has gone beyond the stadiums and is now played in the virtual space. Any common man can now access the game highlights, players’ information, their strike rate, pitch report and other details on the tip of their hands. Sports analytics is an important part of this billion-dollar business, and it will be adding new dimensions to the future of fantasy sports.
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Sports Analytics Market Research Report: By Sport (Football, Cricket, Baseball, Basketball, others), By Type (On-Field, Off-Field), By Component (Solutions, Services), By Deployment Model (On-Premise, Cloud), By Application (Player Analysis, Team Performance Analysis, Video Analysis, Health Assessment, Data Interpretation and Analysis, Others), By Region (North America, Europe, Asia Pacific, Middle East, and Africa, South America) – Forecast till 2027
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