Sports Analytics Market Analysis and Business Outlook 2023 to 2031

Sports analytics is the method of applying data gathered from a team performance under various circumstances for improving the performance of the team and helping in better decision-making. It is the collection of historical statistics that when used appropriately can provide a viable advantage to an individual or to the team. Through the collection and analyzation of these data, sports analytics help players, coaches, and other staff to facilitate decision-making both during and prior to sporting events. The use of sports statistics and data has become prolific throughout most major sports.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

In addition, many large organizations in the U.S. has made it compulsory for professional teams to adopt sports analytics to support their operations. The best example of sports analytics is tracking of a baseball player's batting average. Increase in the amount of on-field data and surge in the monitoring and tracking of data of players are the major factors that drive the growth of the market. In addition, rise in required time for accessing real-time data and increase in demand for predictive insights of fans preferences fuel the growth of the market.

Moreover, high investment and maintenance cost and lack of awareness regarding sports technology hamper the growth of the market. Furthermore, availability of cost-effective and high-end computing solutions and increase in demand for analytics for complex data streaming are anticipated to provide lucrative opportunity for the market growth. The global sports analytics market is segmented on the basis of component, deployment mode, application, and region. In terms of component, it is segmented into software and services.

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In terms of deployment mode, the market is bifurcated into on-premise and cloud. Based on application, it is divided into marketing/sales, video analysis, fan engagement, team performance & training sports, player analysis & health assessment, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key benefits for stakeholders - The study provides an in-depth analysis of the global sports analytics market along with the current & future trends to elucidate the imminent investment pockets. - Information regarding the key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report. - Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry. - The quantitative analysis of the global sports analytics market for the period 2018-2026 is provided to determine the market potential.

KEY MARKET PLAYERS - IBM Corporation - Oracle Corporation - SAP SE - Stats Perform - Nielson Sports - Tableau Software - SAS Institute - Opta Sports - Trumedia Networks - Sportradar AG

Key market segments

By Component - Software - Service

By Deployment Mode - On-Premise - Cloud

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By Application Area- Marketing/Sales - Video Analysis - Fan Engagement - Team Performance & Training Sports - Player Analysis & Health Assessment - Other

By Region- North America o U.S. o Canada - Europe o UK o Germany o France o Rest of Europe - Asia-Pacific o China o India o Japan o Rest of Asia-Pacific - LAMEA o Latin America o Middle East o Africa

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