Sports Analytics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Sports Analytics Market was valued at USD 1.05 billion in 2020 and expected to reach USD 5.11 billion by 2026 and grow at a CAGR of 30.13% over the forecast period (2021 - 2026). Sports analytics offers tools to assess player fitness and team performance, competitive analysis, social media, and business analysis, among other crucial functions. It has led to the development of sophisticated structures for crunching numbers to predict prior results, win-loss records, and opponent history, to determine the outcome of a future sporting event.
Key HighlightsThe sports analytics market is slightly consolidated and consists of major players that have a comparatively better market presence. In terms of market share, few of the major players currently dominate the market. These major players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring startups working on sports analytics market technologies to strengthen their product capabilities.
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