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Sports Analytics Market size was valued at USD 1.79 billion in 2019 and is poised to grow from USD 2.22 billion in 2023 to USD 12.6 billion by 2031, growing at a CAGR of 28.1% in the forecast period (2024-2031).

The competition between small and midsized companies is intensifying. Players are focusing on mergers and acquisitions, and partnership opportunities to stabilize and expand their market presence. For instance, Sportradar AG announced a 10-year partnership agreement with the National Hockey League in June 2021. The collaboration has enabled Sportradar AG to distribute NHL official data and statistics to technology companies, sports betting companies, and media outlets. The agreement also grants Sportradar the right to provide live broadcasts of NHL games to sports betting operators in authorized markets via the providers' digital betting platforms. 'IBM Corporation', 'SAP SE', 'Stats Perform', 'Opta Sports', 'TruMedia Networks', 'Catapult Sports Pty Ltd', 'SportsSource Analytics', 'Synergy Sports Technology', 'Zebra Technologies Corporation', 'ChyronHego Corporation', 'Kinexon GmbH', 'SAS Institute Inc.', 'Tableau Software, LLC', 'Gracenote Sports', 'Nielson Sports', 'Sports Mechanics', 'Sportsvision', 'Advanced Sports Analytics, Inc.', 'Experfy, Inc.', 'Sports Analytics, Inc.'

The adoption of cutting-edge technologies such as the cloud, IoT, big data and analytics, agility, and social media has resulted in innovation and transformation, thereby boosting the economy in the business ecosystem. Digital technologies have transformed the traditional business model into a modern one. Because of the increased demand for in-depth knowledge, the adoption of big data and related technologies has accelerated. The exponential increase in data volume is due to the expansion of businesses, which is driving the increase in data volumes and sources. The accumulation of large amounts of data in a single location has accelerated the evaluation capabilities of machine learning experts in every organization. Enterprises can optimize critical business processes, functions, and objectives by leveraging the challenges and opportunities of big data sports analytics.

Sports analytics market trends provide insights that the unpredictability of the market and the rapid adoption of new technologies are expanding the application of these solutions globally. The demand for software delivered via the cloud is increasing as businesses concentrate on reducing software updates and maintenance requirements. This is because cloud-based solutions provide advantages like rapid cloud computing, low cost, easily accessible, and unrestricted service. Superclubs are well-known because of their illustrious track record of success, which has fueled their fan base and brand value, drew top athletes from all over the world, and thereby increased sponsorships and investments. These top teams see analytics as the future of football.

In 2021, North America held more than 28% of sports analytics market share. The growing demand for live commentary and Artificial intelligence technology in sports, as well as increased investments in cutting-edge technology by members of the National Football League (NFL), Major Baseball, and Others (MLB), and National Collegiate Athletic association (NBA) in the region, are expected to drive the market in the North American region. Tableau Software, LLC, SAP SE, and IBM Corporation are among the market leaders in sports analytics, investing significantly in research and development to ensure that all the requirements and achieve a competitive advantage.

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Global Sports Analytics Market

Product ID: SQMIG45C2053