Global Sports Analytics Market Size To Grow USD 15.55 Billion By 2030 | CAGR of 22.6%
Category: Information & TechnologyThe Sports Analytics Market was valued at USD 3.67 Billion in 2021, the market is projected to grow USD 15.55 Billion in 2030, at a CAGR of 22.6%. as per the latest research report by Spherical Insights & Consulting.
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Team management and coaches also use data analytics tools to evaluate rival teams, improve winning chances, and choose team lineups. Basketball teams use cutting-edge data analytics technologies to create game plans and strategies, minimize athlete injuries, and support coaches. For instance, in order to analyze the shooting arcs and performance of the players, the Los Angeles Lakers, NBA's New York Knicks, Golden State Warriors, and Toronto Raptors have all profited from the basketball monitoring system offered by sports data analytics startup Noah Basketball.
Browse key industry insights spread across 190 pages with 118 market data tables and figures & charts from the report Global Sports Analytics Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Component (Software and Service), By Analysis Type (On-field and Off-field), By Deployment (On-Premise and Cloud-based), By Sports Type (Individual Sports, Teams Sports, eSports), By Application (Performance Analytics, Player and Team Valuation, Health Assessment, Fan Engagement, Broadcast Management & Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 in detail along with the table of contents https://www.sphericalinsights.com/reports/sports-analytics-market
The need for sports analytics is rise during the forecast period due to the increased relevance of on-field data for team performance analysis, player tracking, injury monitoring, and improving individual player training programs. The team management evaluated the off-field and on-field statistics of individual players to design the strategy, choose the team, and chose the starting lineup of players for the game. Market growth is predicted to be fueled by managers' increased dependence on real-time data to schedule training sessions and design different strategy games.
As a result of technological breakthroughs in Big Data, Artificial Intelligence, and Machine Learning, sports analytics have started to change. The algorithms of this program assess several factors, such as domestic and international performances, opponents, and game situations, and then choose the best candidates for a certain situation. However, support vector machines and deep neural networks may be used by managers and coaches to identify combinations and the likelihood of winning. A lot of stakeholders, fantasy sports, and betting apps rely on off-field data to guide their decision-making and increase revenue. During the projection period, a growing tendency among sports enthusiasts to understand sports dynamics is predicted to fuel the significant CAGR.
The on-field sector is predicted to have a largest share of the market in the global sports analytics due to the growing usage of on-field analytical data, such as individual & team analysis, health evaluation, and video management. It is anticipated that the football segment would rule the global sports analytics market since more people are watching football leagues like the ISL, MLS, EPL, and UEFA Champions League. In 2019, 42.7 thousand people in Germany watched the Bundesliga, according to weltfussball.
The market is divided into individual sports, team sports, and eSports based on the kind of sport. Football, cricket, baseball, basketball, rugby, and other team sports are divided up. Because more people are following football leagues like the ISL, MLS, EPL, and UEFA Champions League, it is projected that the football segment would dominate the worldwide sports analytics industry. According to weltfussball, 42.7 thousand viewers watched the Bundesliga competition in Germany in 2019. Additionally, a significant industrial trend involves teams and clubs collaborating with analytics companies. Opta, the leading provider of football sports data, has cooperated with various football leagues and teams, for instance.
The market is divided into on-field and off-field categories based on the sort of analysis used. Due to the expanding use of on-field analytical data, such as individual & team analysis, health evaluation, and video management, the on-field sector is anticipated to dominate the market share of the global sports analytics market. Systems for on-field data processing have been employed increasingly often recently in sports including football, rugby, cricket, and swimming.
Small and midsized business rivalry is getting more intense; thus, key players are concentrating on mergers, acquisitions, and strategic alliances to maintain and grow the company in the market. For instance, the National Hockey League and Sportradar AG established a 10-year worldwide agreement in June 2021. The collaboration has made it possible for Sportradar AG to provide media, technology, and sports betting firms with access to the official statistics and data of the NHL. In accordance with the arrangement, Sportradar is also granted the ability to offer live NHL game broadcasts to sports betting operators in approved markets on the providers' digital betting platforms. The following are a few of the well-known businesses involved in the global sports analytics market
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North America region is expected to dominate the market share of global sports analytics market owing to increased technological adoption rates and shifting market conditions. The demand of cloud-based software is rising as businesses focus on cutting maintenance and update expenses. This is because cloud-based solutions have benefits including quick scalability, low cost, uninterrupted service, and easy access.
SPORTS ANALYTICS MARKET: RECENT DEVELOPMENT
- May 2022- The England and Wales Cricket Board (ECB) and Sportradar's InteractSport today announced the renewal of their multi-year relationship to continue providing electronic scoring and fan engagement tools to the recreational cricket community.
- April 2022- Deltatre can announce to introduce OTT video player DIVA which will support several features including Fan engagement, Multi-camera viewing, 360-degree support and used by BT Sport, NFL Game Pass, and other prominent streaming platforms – that allows for simpler integration with a client’s existing technology stack.
- January 2022- Zebra Technologies Corporation has partnered with NFL to expand the customer base across Europe.
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