Over the years, world of sports has experienced an increment in the use of analytics. The global market for sports analytics is driven by the increasing needs of sports organizations to analyze and gain insights on-field and off-field data obtained from various sources. Some of the factors driving the demand of global sport analytics are the increasing demand for predictive insights into fan preferences. Analytics can improve sport’s fans experience, as teams and ticket vendors compete for providing good experience to their fans. They help in analyzing whether a fan is interested in an opposing team visiting the town and at what the time game must be scheduled. The sports analytics technique helps in knowing fan’s mindset or if it will provide season ticket holders more motivation to keep attending and retain their tickets.
The increasing adoption of cloud-based solutions for analytics of complex data is expected to present new revenue opportunity for several players engaged in sports analytics market. The market of sports analytics is driven by the factors such as increasing demand of management officials, coaches, and mentors for real-time access of relevant information. Moreover, factors such as high research and development requirement and availability of limited funding restrain the growth of global sports analytics market.
Sports analytics helps business organizations in searching for an innovative technology in sports, offers various solutions for leading business models to organize and manage teams. An efficient sport analytics helps sportsperson and sport organizations to attain competitive edge that helps them to efficient decision making and develop effective strategy for the game. The adoption of cloud based sports analytics services and solutions is expected to enhance during the forecast period, as it provides business enterprises with analytical potential without spending much on IT infrastructure and technical staffs.
Sports analytics are used for establishing fantasy leagues, and it also enables sports players to access the statistics that improves the player game. The sports analytics is used to improve scouting and to analyze new player with extraordinary talent and for evaluating player competitive capability. In today’s scenario, every major professional sports team has hired an analytics expert on staff or has an analytics department. The analytics teams scan scout notes from the clipboards and further convert those PDF’s to Excel and then hand over those files over to the top level data developers. Sports analytics will continue to evolve and it will become a more reliable technique in future.
Geographically, North America is the largest market of sports analytics, followed by Europe. The strong financials of various sports organization and high technological adoption trends in the European and the North American region has led to the growth of sports analytics market. Asia-Pacific is expected to be a promising market for sports analytics due to increasing inclination towards sports and it offers good growth opportunity for various sports analytics vendors.
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