Over the recent past decades, the numerous sporting events and sports club have seen an effective growth in the amount of revenue created. This was majorly because of the growth in television broadcasting and increase in the number of sponsorships and promoting sales. In the recent time, most of the highlighted sports leagues and clubs are looking for the various opportunities to generate the new streams for generating the revenue. In addition, the sports analytics received a main boom up from the video cameras, wearable devices and various sensors. Few vendors have capitalized by providing hardware and later associated analytics. The key players of this market are playing an important role by doing significant developments in the technology of sports analytics for leading the fastest market growth during the forecasted period with the handsome amount of share around the globe.
According to the report analysis, ‘Worldwide Sports Analytics Market (2016-2022)’ it states that there are several key players which are recently functioning in this market more significantly during the forecasted period by utilizing the market opportunities after working by folding up their sleeves includes SAP SE, STATS LLC, Opta, SportRadar, Accenture, Catapult Group International Ltd, SAS Institute Inc, IBM Corp, Oracle Corporation, Tableau Software Inc, Orreco, Kinexon Precision Technologies GmbH, Firstbeat Technologies Ltd., Firstbeat Technologies Ltd, Krossover Intelligence Inc., and several others. Moreover, with the significant developments in the technology, growth in the adoption and efficient working of the key players the nature of this market is become more competitive which influenced the other existing key players and coming investors for making huge amount of investment for getting highest return on investment and attaining the handsome amount of share. Furthermore, this will also supportable in leading the fastest market growth during the forecasted period more significantly.
Although, the Worldwide Sports Analytics market is predictable to increase at an effective CAGR of 40.1% during the forecast period of 2016-2022 to touch an aggregate of USD 3.97 billion by 2022. With the recent developments in ICT, the huge amount of data is being created which related to players and audience & sports teams are valuing the understanding into these data to develop their team performance and engage and increase their audience base. Thus, the usage of analytics in sports is developing as a main business and is predictable to become a requirement for all the major sports clubs and leagues. Furthermore, big data and cloud technology played a prominent role in the growth of sports analytics and various vendors have their own cloud driven analytics platform. The platform is being utilized for numerous applications in business intelligence and performance analytics. With the support of cloud technology, vendors in video analysis deliver the unlimited video storage and video analytics and services. The analytics in sports is widely used in scouting, team performance analysis and strategic game planning. It has now grown to different aspects of business as well. Therefore, in the near future, it is expected that the worldwide market of sports analytics will increase more significantly over the recent few years.
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