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(Wireless-NewsWire.Com, November 21, 2018 ) The increasing volume of on-field and off-field data generated among various sports organizations has led to an increase in managing these data to analyze them. This need is driving the adoption of sports analytics solutions. Analytics and big data technologies have found huge potential in various industries, including sports. The increasing demand of coaches, mentors, and other management officials for real-time access to the insights of relevant information presents huge potential for sports analytics market.
The demand for cloud-based sports analytics solutions is also expected to increase due to the lack of budget allocation for hiring technical skills and experts to analyze data for sports organization. These are some of the major factors expected to augment the growth of the market. Moreover, in order to remain competitive, organizations are adopting sports analytics solutions. The overall market has been segmented by type, deployment type, application, and region.
The study has been conducted on a global level, covering five regions namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. The overall market is expected to grow from USD 123.7 Million in 2016 to USD 616.7 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 37.9%.
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Player and team performance analysis solutions are estimated to exhibit the highest adoption rate. Moreover, the increasing adoption of cloud-based solutions and demand for analytics for complex structured data streaming, will present new avenues for the growth in the future. Various sports analytics applications such as player analysis, team performance analysis, health assessment, video analysis, data interpretation and analytics, fan engagement, and other applications include hospitality management and sales & marketing management. Some of the major players offering solutions with these features include IBM, SAP, SAS, Tableau Software, STATS LLC, Prozone, Opta, and TruMedia.
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