New York, US, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Sports Analytics Market information by Sport, by Types, by Application and Deployment – forecast to 2027” market size to grow at a compound annual growth rate of 30.5% by 2025.
The growing developments in the wearable technology has made easier for users for collecting vital health metrics and also work with fitness professionals. Besides, the wearable technology like GPS trackers or accelerometers is leading to sport revolution that is leading to predict athletic competence and no to mild injuries. In addition, the deployment of SoC in the area of wearable sports and fitness technology are frequently improving the market growth.
Dominant Key Players on Sports Analytics Market Covered are:
SAS Institute Inc.
Catapult Group International Ltd
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Market USP Exclusively Encompassed:
Growing Preference to Use Real-Time Data to offer Robust Opportunities
The growing preference among team coaches and managers to use real-time data for formulating gaming strategies and organizing training sessions will offer robust opportunities for the market in the forecast period.
Increasing Use of Social Media Activities and Smartphones to Offer Latest Market Trends
Increasing use of smartphones and social media activities to get all sports related information are the latest market trends. This is because the sports data generally generates through social media sites to improve fans experience.
Lack of Awareness to act as Market Restraint
The lack of awareness regarding the perks of using emerging technologies in sports may act as a market restraint over the forecast period.
High Investment to act as Market Challenge
The high investment and maintenance cost coupled with the lack of awareness about sports technology may act as market challenges in the forecast period.
Browse In-depth Market Research Report (111 Pages) on Sports Analytics Market:
Segmentation of Market Covered in the Research:
By sport, the football segment will lead the market over the forecast period for the increased attendance for football leagues like ISL, EPL, MLS, and UEFA Champions League.
By type, the on-field segment will dominate the market over the forecast period for the increasing use of analytical solutions in outdoor games like swimming, hockey, rugby, cricket, and football.
By deployment model, the cloud-based deployment will spearhead the market over the forecast period for the growing consumer preference for cloud-based software solutions.
By application, the player analysis and team performance analysis application will have the lions share in the market over the forecast period.
By component, the solution segment will command the market over the forecast period for the growing preference for cloud-based solutions that offers advantages with regards to accessibility and information security to end-users including athletes, tournaments, sports teams, and sports associations.
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North America to Spearhead Sports Analytics Market
North America will spearhead the market over the forecast period. High adoption of analytics across sports in Canada and the US, the increasing use of AI, rising amount of video analysis to analyze player performance, increasing investments by companies in real-time analytics, increasing investments in latest technologies by associations like NFL, MLB, and NBA, heavy investments in research and development activities, early adoption of innovation, and various initiatives by the sports club for improving the team’s performance and boost fan base & revenue are adding to the global sports analytics market growth in the region.
COVID-19 Impact on the Global Sports Analytics Market
The COVID-19 outbreak has taken a severe toll on the sporting ecosystem worldwide in the second half of 2020. Top sporting events like ICC Men’s T20 cricket world cup tournament, UEFA Euro 2020, and Olympic Games were postponed. Thus several organizations introduced various types of content like Esports, and virtual live entertainment among others. Nonetheless, the revenues of the teams have plummeted significantly in 2020 either due to events getting postponed or looming preference for closed-door matches. As per the European Club Association, in Europe football clubs confronted a loss of about USD 4.5 billion in revenues owing to the pandemic. Thus, the teams are reducing other budgets like spending on technology and players’ remuneration. Thus, the market’s overall revenues plummeted by 1.4% in 2020. The sports analytics market however is likely to show signs of recovery in 2021 as leading tournaments have resumed and crowds have been permitted in attending such events in few parts of the world.
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