Sports Analytics Market Experiencing Robust Growth by Raising Emphasis on Real-Time Data – SNS Insider

The sports analytics market is experiencing robust growth, with a focus on real-time data for organizing training sessions and strategic developments in games. According to SNS Insider Research, the market size is valued at US$ 3.53 Billion in 2023 and is expected to surpass US$ 20.48 Billion, with a compound annual growth rate (CAGR) of 22.51% over the forecast period 2024-2032.

The use of sports wearable devices has increased significantly, leading to the generation of a significant amount of player and team data. This data is being used to understand various aspects of player performance and fitness levels, such as heart rate, speed, and acceleration.

Moreover, the adoption of artificial intelligence (AI) to automatically analyze plays has further expanded the sports analytics market. Many are leveraging AI to enhance player performance.

The availability of cheaper and high-performance computing solutions, coupled with the increased need for advanced streaming analytics, is projected to drive the growth of the market.

Football holds a 22% market share in the sports analytics market, with teams using analytics to evaluate individual and team performance, tactics, formations, and strategies. AI algorithms are being used to measure player performance, collect insights, and prepare for strategic games.

The market is segmented by component, analysis type, end-use, and sports. Regional analysis shows a growing demand for sports analytics in countries like Australia, India, China, and Japan, further driving the adoption of electronic devices and advanced analytics solutions.

Recent developments in the market include the introduction of FanID by Sportradar AG, a new marketing activation platform that connects rightsholders and brands through clean room data technology.

Overall, the sports analytics market is poised for significant growth, driven by the rise in wearable technology, real-time data emphasis, and strategic developments in sports.