The Rise of Sports Analytics Market: A Multi-Billion Dollar Industry
Sports analytics refers to the practice of using data analysis techniques and statistical models to gain insights and make informed decisions. It involves gathering and examining data related to various aspects of sports performance, including player performance, team strategies, game outcomes, and other related factors. It relies on multiple data sources, such as player statistics, video recordings, sensor data, and other relevant information. It assists in tracking player workload, injury risk, and recovery patterns.
How Big is the Global Sports Analytics Market?
The global sports analytics market size reached US$ 1,085.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,097.8 Million by 2028, exhibiting a growth rate (CAGR) of 18.6% during 2023-2028.
Global Sports Analytics Market Trends:
The increasing demand for tracking and monitoring the data of players on account of the rising participation of individuals in recreational sports, fitness, and athletic activities represents one of the major factors driving the need for sports analytics around the world.
Moreover, the growing funds by sports authorities in the deployment of advanced techniques for improving the existing sports infrastructure are influencing the market positively. Apart from this, the incorporation of machine learning (ML), artificial intelligence (AI), big data, internet of things (IoT), and cloud computing, in sports analytics for improved team performance is favoring the growth of the market.
Besides this, the increasing adoption of sports analytics due to the rising demand for enhanced decision making in a game is strengthening the growth of the market.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Software
- Service
Breakup by Analysis Type:
- On-field
- Player and Team Analysis
- Video Analysis
- Health Assessment
- Off-field
- Fan Engagement
- Ticket Pricing
Breakup by Sport:
- Football
- Cricket
- Hockey
- Basketball
- American Football
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Chyronhego Corporation
- Experfy Inc.
- HCL Technologies
- International Business Machines Corporation
- iSportsAnalysis
- Oracle Corporation
- Qualitas Global Services
- SAP SE
- Sas Institute Inc.
- Sportradar AG
- Stats Perform
- Tableau Software LLC (Salesforce.com Inc.)
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