Sports Analytics Market

Key players adopted various growth strategies, such as partnerships, agreements, and collaborations, to further expand their presence in the global Sports Analytics Market

The global sports analytics market size is expected to grow from USD 1.9 billion in 2019 to USD 5.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. Major factor fueling the market growth are increasing investments in sports technology for data-driven decisions and need for player/ team performance improvement.

Major sports analytics vendors include IBM (US), SAS Institute (US), Tableau Software (US), EXL (US), GlobalStep (US), Catapult (US), SportsSource Analytics (UK), HCL (India), Experfy (US), IceBergs Sports (Canada), Chyronhego (US), Stats Perform (US), Exasol (Germany), TruMedia Network (US), DataArt (US), Orreco (Ireland), Advanced Sports Analytics (US), Qualitas Global (India), iSportsAnalysis (UK), FORMCEPT (India), Quant4Sport (Italy), Physimax Technologies (US), and Zebra Technologies (US). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations, to further expand their presence in the global sports analytics market. Partnerships and collaborations have been the most dominating strategy adopted by the major players from 2017 to 2019, which has helped them to broaden their customer base and increase player performance by offering player tracking devices and tools to coaches and players.

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IBM’s (US) IoT-enabled platform is a specialized sports analytics platform, which increases the performance of athletes. IBM Watson IoT platform is known to analyze and track the athlete performance with enhanced product development. The company’s cloud-based technology would increase its customer base and reach globally in the sports analytics market. The IoT platform provides a sensory device to players that can be put on the hands and used to analyze the performance of players for further matches. IBM’s IoT solutions would help the coaches and teams to monitor and analyze players performance, such as heartbeat rate, motion, and injury form sensory devices worn by players during a match. Over 100+ years the company has established itself as the largest technology and consulting company, thus increasing its customer reach globally. Watson IoT in sports analytics would deliver excellent solutions by increasing fans experience, optimizing Return on Investment (RoI), and providing better infrastructure that would enhance fans engagement. The company’s partnership strategy would increase its digital presence in the sports analytics market.

EXL (US) has a dedicated team that is responsible for delivering analytics, operational management, and technology solutions to its clients. The company’s Digital Intelligence platform with its domain and digital knowledge would increase customer performance at a faster pace. EXL’s presence in various industry verticals, such as insurance, healthcare, transportation, travel and utilities, and sports, would improve its performance and reach in the market. The company has a specialized lab, which will aim to provide digital intelligence solutions to its customers with Artificial Intelligence (AI), Machine Learning (ML), and robotics technologies to provide structured data for the team’s performance. EXL services include expertized cloud, data governance, data architecture, data integration, and master data management that helps sports leagues and teams to engage fans. The company’s AI and ML tools would increase the company’s profitability in the future market.

Related Reports:

Sports Analytics Market by Sports Type (Individual and Team), Component, Application (Performance Analysis, Player Fitness and Safety, Player and Team Valuation, and Fan Engagement), Deployment Model, and Region - Global Forecast to 2024

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Report Code
TC 4272
RI Published ON
1/9/2020
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