Report ID: SQMIG45C2053
Report ID:
SQMIG45C2053 |
Region:
Global |
Published Date: July, 2024
Pages:
165
|
Tables:
197 |
Figures:
80
Sports Analytics Market size was valued at USD 3.10 Billion in 2022 and is poised to grow from USD 3.84 Billion in 2023 to USD 4.75 Billion by 2031, at a CAGR of 23.8% during the forecast period (2024-2031).
The use of new technologies, such as Big Data, IoT, cloud, and analytics, mobility, and social media are driving change and innovation in the industry. This demand for deep knowledge has led to Big Data and related technologies and acceptance has increased. The increasing growth in data power is driven by the growing industry worldwide, providing an ever-increasing source and volume of data. According to an industry expert, Big Data is used by about 55.0% of players for their management performance and is improved.
Sports companies are embracing analytics to make decisions and help with individual and team performance. With cost-effective solutions, smaller sports organizations can get the most out of these solutions and improve the standing of their teams in their competitions in addition to improvements in Machine Learning (ML). Various adaptations of Artificial Intelligence (AI), Big Data across the sports industry, which is also expected to provide more growth opportunities for the market.
US Sports Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
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REQUEST FREE CUSTOMIZATIONGlobal Sports Analytics Market size was valued at USD 3.10 Billion in 2021 and is poised to grow from USD 3.84 Billion in 2022 to USD 4.75 Billion by 2030, at a CAGR of 23.8% during the forecast period (2024-2031).
The global sports activities analytics market is exceptionally competitive and fragmented, with a big range of players working within the market. Some of the key gamers in the market are adopting diverse strategies along with partnerships, collaborations, mergers and acquisitions to benefit a competitive area within the marketplace. In addition, agencies are also investing heavily in studies and development to introduce progressive technology to the marketplace. For example, Catapult Group International Ltd has evolved into a wearable era that makes use of GPS and accelerometers to track an athlete's performance at some point in schooling and games. The market is likewise witnessing the entry of the latest players, particularly startups which might be introducing disruptive technologies inside the marketplace. 'Oracle Corporation (US) ', 'WHOOP (US) ', 'SAP SE (Germany) ', 'Catapult (Australia) ', 'IBM Corporation (US) ', 'SAS Institute Inc. (US) ', 'Sportradar AG (Switzerland) ', 'Kitman Labs (Ireland) ', 'Stats Perform (US) ', 'Orecco (Ireland) ', 'Agile Sports Analytics LLC (US) ', 'Experfy, Inc. (US) ', 'Genius Sports Group (UK) ', 'Arecont Vision Coaster LLC (US) ', 'The Sportradar Group (Switzerland) ', 'Zebra Technologies (US) ', 'EXL (US) ', 'HCL (India) ', 'GlobalStep (US) ', 'Exasol (Germany) '
Increased emphasis on intelligence management and decision-making in sport has created a demand for advanced analytics. Teams, coaches and managers need insights more data-based to enhance player performance, improve playing techniques and gain a competitive edge.
Rising Usage of AI and machine learning: Sports companies are increasingly using AI and machine studying to analyze huge volumes of statistics and enhance athletes' overall performance. For example, the NFL uses computer vision and machine learning to analyze player moves and identify styles that can help teams optimize their recreation techniques. Social media is becoming an essential part of the sports activity's enterprise, and sports activities era is being integrated into the social media structures to enhance fan engagement.
North America accounted for more than 28.0% of the market revenue share in 2023. The promising growth in the market is likely to drive the adoption of advanced technologies such as smart infrastructure, sports data analytics and digital signage in sports stadiums to attract fans and improve team performance. The increasing focus of sports analytics solution providers on offering innovative solutions fuels market growth. Major sports leagues such as the NFL, NBA, MLB, and NHL have increasingly relied on sports analytics solutions to make data-driven decisions, optimize development strategies, and gain competitive advantage.
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Report ID: SQMIG45C2053