Several football clubs and leagues have partnered with Opta, the provider of football sports information.Further, clubs and teams associated with analytics organizations are an important trend. Moreover, the increasingly competitive nature, necessity to develop decision-making to gain an advantage over their competitors, and social media impact have propelled the acceptance of analytics exponentially. These elite clubs view analytics as football’s next frontier. Superclubs are famous due to their noteworthy history of achievement, which has compelled their fan base and brand value, attracting star athletes from all over the globe, and thus boosting sponsorships and investments.
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As companies focus on dropping upgrade and maintenance costs, the demand for software delivered on the cloud is being maximized as cloud-based solutions offer benefits such as rapid scalability, low cost, easy access, and uninterrupted service. The unpredictable market condition and advanced technological implementation rates are increasing the utilization of these solutions worldwide.
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Request a Free sample to learn more about this report.Ĭhanging Sports Dynamics and Technology Adoption to Drive Sports Analytics Growth in the Forecast Period Thus, the aforementioned factors will boost the sports analytics market growth. The increased market readiness to purchase AI-based software could lead to even faster AI adoption of the core sports analytics than projected, resulting in stronger AI and overall revenue growth in the coming years. The rising adoption of digital technologies, such as AI, automation, digitization, and Big Data, to the COVID-19 pandemic is expected to fuel the market growth. Thus, the implementation of the solutions aided in offering actionable intelligence by which users can modify interferences to their athletes’ precise needs. The organizations were thinking about enhancing sports analytics and refining them, which would positively affect the companies’ growth. However, the COVID-19 pandemic has halted the market for a while, declining the revenue growth in 2020. With the support of AI-based technologies, many companies have already implemented these solutions for athletes to enhance fan experience and gain unique insights. Sports organizations started resorting to online solutions. The pandemic had a significant impact on all enterprises' operating activities. Increased Adoption of AI-Based Solutions to Boost Market Growth Moreover, the incorporation of machine learning and artificial intelligence technologies in sports analytics is creating profitable opportunities for the market. The sports industry utilizes analytics to increase player performance and a team’s quality of play, prevent injury, increase revenue, and enhance other enhancements. The sports industry implements these solutions to obtain a competitive edge through excellent decision and strategy making.
It provides an advanced approach to crunching numbers to predict previous win-loss records and opponent history as well as to conclude the outcome of a future sporting event. These solutions offer game insights that aid management officials, coaches, and athletes in enhancing their game strategy, skills, and performance. Based on our analysis, the global sports analytics market exhibited an average growth of 22.2% in 2020 as compared to 2019. The global sports analytics market size was valued at USD 1.79 billion in 2021 and is projected to grow from USD 2.22 billion in 2022 to USD 12.60 billion by 2029, at a CAGR of 28.1% during the forecast period.
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