Global Sports Analytics Market – Analysis And Forecast (2014-2024)
In the present scenario there has been rapid adoption of technology in sports such as computing power, improved and advanced analytical methods that includes statistics and optimization and improvement in reliable real-time video data capture for example SportVU. The combination of huge amount of data, improved computing power and analytical tools is contributing towards the increasing adoption of analytics in sports.
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Sports analytics is a broader concept that helps in predicting the on and off field production and hoe to gain a competitive edge. The coaches use to study the competitors strategy by observing the opponents strategy of playing both on and off field. It helps in developing an individual paly book of the players that includes the strengths and weakness of a player, which helps them in further working on their weakness and contribute improved production.
The increasing demand for predictive insights into fan preferences is driving the demand for global sports analytics market. The data driven decision-making in sports is gaining popularity among the sports fans which have started consuming more analytical tools than ever before. There are several websites which comprises of research and analysis of sports statistics and further relate them to predict the performance of a sportsperson. For instance, the site that features an ESPN affiliation consists of around 20 journalists and large number of fans to develop a better understanding of any game. The increasing participation of fans in the data predicted with the help of analytics is helping to enhance the demand for global sports analytics market.
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The increasing demand of analytics for complex data streaming is creating opportunities for global sports analytics market. The increasing advanced analytics offer enhanced decision making capabilities to the organizations across different industries. For instance, the cities can analyse data that is gathered from a city wide network of sensors to identify the root causes of traffic congestion in public transport networks thereby enhancing the flow of traffic and commuters mobility. The lack of awareness about technology in sports is the major restraint observed in the growth of global sports analytics market.
Sports analytics is defined as the management of structured historical data that uses the applications of predictive analytic models to analyse a data and uses the information system to inform decision makers and enable them to help their organizations in gaining a competitive advantage in the field of a play.
Geographically, North America is the largest sports analytics market as it is increasingly used in the region for health assessment and team performance analysis. The availability of cost-effective and high end computing solutions and increasing demand of analytics for complex data streaming is expected to fuel the growth of sports analytics market in the region. The region is constantly working upon the lack of appropriate skills and increasing the accessibility of this market.
Some of the key players in the market include International Business Machines Corporation, SAP SE, Oracle Corporation, SAS Institute, Inc., Tableau Software, Inc., Stats LLC, Prozone Sports Ltd. (A Stats Company), Opta Sports, Sportingmindz Technology Pvt. Ltd. and Trumedia Networks.
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