The sports analytics market size will grow from USD 2.5 billion in 2021 to USD 8.4 billion by 2026, at a compound annual growth rate (CAGR) of 27.3%

0

ReportLinker

during the forecast period. Various factors such as increasing expenditure for the adoption of newer technologies, changing customer intelligence landscape to drive the market, and proliferation of customer channels are expected to boost the adoption of technologies and services. sports analysis.

New York, March 10, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Sport Analytics Market with COVID-19 Impact Analysis by Component, Application, Deployment Mode, Organization Size, Industry Vertical And Region – Global Forecast to 2026 – https://www.reportlinker.com/p03825782/?utm_source=GNW

Traditional analytics platforms use static and stored data to analyze simple or complex patterns and react to any business situation. These platforms take days to analyze and weeks to act on the stored data.

Sports analytics technology is the main enabler of Big Data, allowing companies to use historical data and combine it with customer information to predict future events. Big Data is a constantly growing technology that helps companies optimize processes and minimize operational costs.

The combination of real-time data feeds, artificial intelligence (AI), machine learning (ML), and sports analytics can deliver competitive business advantages. Traditional analytics and BI systems use the deductive approach to analyze data.

This approach works well with structured data. Sports analytics, on the other hand, applies the inductive reasoning analytics approach, which deals with large datasets derived from ML, robotics, sensors, and AI. It uses algorithms that perform complex calculations on large data sets and discover the interrelationships and patterns between them. Big Data offers the possibility of collecting, managing and examining data in vertical business sectors, such as banking, healthcare and agriculture, which has made it a trending topic in information technology. (IT) for a decade. It has many applications, and one such area where it has revolutionized the entire landscape is the sports industry. Data has always been crucial in sports for building strategic decision-making capabilities and formulating other business strategies. Sport generates a large amount of data related to players, team performance and audience. Big data has made it easier and faster for coaches, team leaders and sports associations to analyze the data collected and make optimal use of it. It further helps to reshape existing business models, where sports are viewed as both business and technology platforms. To turn sports arenas into a testbed facility for implementing IoT on large-scale deployment, the technology platform should include a robust Wireless Fidelity (Wi-Fi) network, computing mobile and cloud, and Internet of Things (IoT) technologies. The IoT would eventually digitize stadium operations and provide fans with an enhanced connected experience. A smart stadium would therefore use sophisticated technologies and robust infrastructure to improve its operations to attract fans to stadiums.

The cloud segment with the highest CAGR during the forecast period
By mode of deployment, the sports analytics market has been segmented into on-premises and cloud-based. The CAGR of cloud deployment mode is estimated to be the largest during the forecast period.

Cloud-based services are delivered directly through the network connection deployed in the cloud. Cloud-based platforms are advantageous for organizations that have strict budgets for security investments.

The cloud deployment mode is growing, as cloud-based sports analytics solutions are easy to maintain and upgrade.

Individual sports segment will hold a higher CAGR during the forecast period
The sports analytics market has been segmented by sports type into individual sports, team sports and eSports. The individual sports market is expected to register a higher CAGR during the forecast period.

These individual sports are early adopters of sports analytics solutions. They face the tedious task of managing data efficiently due to the diversity of IT infrastructure, which is complex in nature.

Among the regions, APAC will hold the highest CAGR during the forecast period
APAC is expected to grow at a good pace over the forecast period. The region will be booming as it experiences many new configurations of entrepreneurs, who are embracing new technologies to gain a competitive advantage over established players.

China, Japan, and India have displayed many growth opportunities in the sports analytics market.

Distribution of primaries
In-depth interviews were conducted with CEOs, chief innovation and technology officers, system integrators, and executives from various key organizations operating in the sports analytics market.
• By company: Level I: 35%, Level II: 45% and Level III: 20%
• By designation: C-level executives: 35%, D-level executives: 25% and managers: 40%
• By region: APAC: 25%, Europe: 30%, North America: 30%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering sports analytics solutions and services. It features the major vendors of the global sports analytics market.

The major vendors in the global sports analytics market are IBM (US), SAS Institute (US), Salesforce (US), EXL (US), GlobalStep (US), Catapult (US), HCL (India), ChyronHego (US), Stats Perform (US), TruMedia Network (US), DataArt (US), Orreco (Ireland), Quant4Sport (Italy) , Zebra Technologies (USA) and Exasol (Germany).

Research coverage
The market study covers the sports analytics market across all segments. It aims to estimate the market size and the growth potential of this market across various segments, such as component, deployment mode, organization size, application, vertical, and region.

It includes an in-depth competitive analysis of major market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Purchasing the Report
The report would provide market leaders/new entrants in this market with information on the closest approximations of revenue figures for the overall sports analytics market and its sub-segments. It would help stakeholders to understand the competitive landscape and gain more information to better position their business. and plan appropriate go-to-market strategies.

It also helps stakeholders understand the pulse of the market and provides them with insights on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p03825782/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001
Share.

About Author

Comments are closed.