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Companies are Focused More on Inorganic Strategies to Expand Their Reach and Enhance Their Offerings in the Sports Analytics Market Space
MarketsandMarkets expects the Sports Analytics market size to grow from USD 123.7 Million in 2016 to USD 616.7 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 37.9%. The rising need of sports organizations to analyze the increasing volume of on field and off-field data to draw insights related to their games and other business operations for improved decision making is driving the growth of the market. Some of the major Sports Analytics solution providers include IBM, SAP, SAS, STATS LLC, Prozone, TruMedia Networks, Opta, and others. Such companies are adopting various organic and inorganic growth strategies to increase their market shares such as partnerships, agreements, collaborations and expansions, mergers and acquisitions, and new product launches.
Companies are focused more on inorganic strategies to expand their reach and enhance their offerings in the Sports Analytics market space. Partnerships, agreements, and collaborations were the major strategy during 2013-2016, followed by mergers and acquisitions. For instance, Opta recently became the official data collection and distribution partner of International Cricket Control (ICC) for 4 Years to provide data for all ongoing events of ICC. Furthermore, STATS LLC partnered with Virtually Live to create a fully immersive live game viewing for fans to enhance viewing experience.
Mergers and acquisitions was also a major development strategy. IBM acquired Truven Health Analytics and Merge Healthcare to integrate the solutions provided by these companies into its IBM platform, in order to provide advanced and real-time health analytics capabilities to its clients in various industries including sports. STATS acquired Prozone to provide athlete’s performance tracking solutions to team coaches and management so that more informed decisions can be made in the development and acquisition of correct players. These acquisitions are expected to bring better solutions that would help clients take improved decisions in the different areas of sports and related business operations.
The major players also launched new products to offer advanced products to their clients in this market space. SAP launched a cloud-based sports management platform, SAP Sports One, with all in one management console for football teams’ coaches, managers, analysts, and scouts to draw insights and have improved decision making process for teams and players. Sports Analytics solution vendors are continuously adopting key growth strategies to innovate new products and help their customers draw insights from huge volume and complex structured data. Such factors are bolstering the adoption of the Sports Analytics solutions across the globe where APAC is expected to have highest CAGR during the forecast.
Sports Analytics Market by Type (Solutions & Services), by Applications (Player Analysis, Team Performance Analysis, Health Assessment, Video Analysis, Data Interpretation & Analysis, Fan Engagement), by Deployment Type & by Region - Global Forecast to 2021
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