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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Sports Analytics Global Market Report 2022' -
The global sports analytics market is expected to grow from $1.28 billion in 2021 to $1.61 billion in 2022 at a compound annual growth rate (CAGR) of 26.42%. The sports analytics market is expected to reach $4.15 billion in 2026 at a CAGR of 26.67%.
The sports analytics market consists of sales of sports analytics solutions by entities (organizations, sole traders, and partnerships) that refer to software platforms, which run on mathematical and statistical principles to provide data-driven insights into sports and related peripheral activities.Sports analytics often applies the same basic methods and approaches for analysis.
It offers parameters for measurement such as hit or fumble rate, and consistently collects data from a broad sample for the analysis process.
The main components of sports analytics include solutions and services.The sports analytics solutions refer to sports analytics software and platform, that are deployed on both on-premise and cloud interfaces.
It includes software, hardware components, and others. They are used in various sports including football, cricket, hockey, basketball, American football, and other sports for player analysis, team performance analysis, health assessment, video analysis, and others.
North America was the largest region in the sports analytics market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the sports analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The sports analytics market research report is one of a series of new reports that provides sports analytics market statistics, including sports analytics industry global market size, regional shares, competitors with a sports analytics market share, detailed sports analytics market segments, market trends and opportunities, and any further data you may need to thrive in the sports analytics industry. This sports analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing demand for monitoring and tracking data of players will propel the growth of the sports analytics market.Monitoring an athlete is increasingly being used by sporting federations and organizations to understand the patterns of behaviour, habits, and performance among athletes.
Capturing these data allows the coach to evaluate and analyze, which in turn helps them get the best possible performance out of the athlete.Monitoring and tracking are a combination of data collection and analysis (monitoring) to assess to what extent the objectives are met by the player.
As the demand for monitoring and tracking data of player increase, there will be a significant need for sports analytics solutions to develop data-driven decisions based on data extracted from monitoring tools and platforms.For instance, more than 40 Scottish football and rugby clubs currently use the EDGE system of PlayerData (a UK-based software company) for performance analysis and load management.
EDGE GPS is a data collection and monitoring tool that is worn by athletes to capture physical metrics during sports sessions. Thus, the increasing demand for monitoring and tracking data of players is expected to propel the growth of the sports analytics market.
Technological advancement is a key trend gaining popularity in the sports analytics market.Technology has been changing the way that sports are evaluated.
These analytics platforms and software are utilizing advanced technologies such as AI and machine learning to carry out complex tasks in athlete performance monitoring, case studies, and other activities. For instance, In December 2020, RT Software, a real-time graphics development company released a major update to its existing product Tactic, a sports analysis graphics product, which utilizes machine learning and AI technologies to detect player movements in the video stream, tracking positions, and creating motion paths.
In August 2020, Inc & Co, a UK-based digital collective company acquired Insight Analysis for an undisclosed amount.The acquisition adds to the company's growing network of sports services and strengthens its portfolio of services while adding additional customers.
Insight Analysis is a UK-based sports analytics company offering data analysis for football, rugby, tennis, and athletics.
The countries covered in the sports analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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