What is Sports Analytics?
Sports analytics is the practise of using data gathered from a team's performance under various conditions to improve the team's performance and make better decisions. It is the collection of historical statistics that, when applied correctly, can offer an individual or team with a meaningful benefit. The basic goal of sports analytics is to improve player performance and maintain fan loyalty. Growing desire for players to be provided with complete analogy and a wide range of evaluation criteria is anticipated to travel the major sports analytics market in the coming years. Keeping track of each player's performance, controlling individual performances, and designing effective game strategy are all expected to improve the sports analytics business.
Key Factors Propelling Growth for Sports Analytics Market
Because of the growing need to measure and analyse player data, sports are seeing an increase in the number of wearable gadgets. A lot of data about players and teams is created, which is utilised to learn about player performance and fitness characteristics like heartbeat, speed, and acceleration.
The expansion of health assessment solutions, fueled by fitness bands and other wearable devices, has resulted in a significant increase in the amount of data to be analysed. Furthermore, the availability of low-cost and high-end computing solutions, as well as rising demand for complex data streaming analytics, are projected to boost the market's expansion.
Sport analytics solutions are becoming more popular in North America as a result of the shifting market environment and rising technological adoption rates across the area. As enterprises strive to reduce maintenance and update expenses, the demand for cloud-based software is growing, as cloud-based solutions offer benefits such as cheap cost, rapid scalability, easy access, and uninterrupted service.
The growing desire for cloud-based software solutions, which offer benefits in terms of data security and ease of access to end-users such as sports associations, leagues, clubs, and athletes, can be attributed to the increased usage of sports analytics software solutions. Furthermore, sports fans have been observed using smartphone applications to analyse data linked to sports.
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Sports Analytics: 26.2% CAGR
Projected Revenue: 8.5 billion from 2021 to 2027
Conclusion: It is the management of organised historical data, the use of predictive analytic models that utilise that data, and the use of information technology to inform decision-makers and assist them in attaining a competitive advantage on the field of play that is referred to as sports analytics.
Published Date : October-2021