Sports Analytics Market To Grow At 27% Rate Through 2026
Sports Analytics Market To Grow At 27% Rate Through 2026: ‘The Business Research Company’, a business analysis company, predicted the growing sports analytics market. “The increasing demand for player tracking and monitoring will push the industry to grow in value by 26.67%.” The report predicts that, in 27 years, the sports analytics industry will be worth $4.15 billion.
The global sports analytics market is the sale of sports analytics solutions by organizations, sole traders, and partnerships that use software platforms that run on mathematical and statistical principles to provide data-driven insights into sports and related activities. Typically, these analytical tools are very similar in their basic design and analysis process. These programs work by setting parameters for measurement, such as a hit or fumble rate, and consistently collecting data from a broad sample for the analysis process.
With the recent developments in technology, many advancements have been made in the field of sports. In recent years, new technologies such as AI and machine learning have been able to analyze large amounts of data that were previously difficult or impossible for humans to process.
For example, as of December 2020, RT Software made a major update to its existing product, Tactic, an advanced sports analysis graphics software that utilizes machine learning and AI technologies to make video games easier to play. It tracks player movements in the video stream and creates motion paths.
The global sports analytics market is segmented into four categories. The player evaluation sector is comprised of applications that focus on evaluation, performance, and health. Athletic team performance analysis includes basketball, football, hockey, and cricket. Others include video analysis and others.
One of a series from The Business Research Company that provides market overviews, analyzes and forecasts the global sports analytics market in terms of market size and growth, any potential segments and so on. The report explicitly identifies top countries and segments for investment opportunities and advantages given to key competitors.