The global market of sports analytics is continuously growing due to the demand for the application of data analysis in different sports. Businesses and groups are implementing analytical methods to increase players’ results, application tactics, and fans’ satisfaction. The market is vast and consists of performance analysis products, player tracking and statistics, and various professional and amateur sports predictions and prognostications services. The sports industry is investing more in data for the business edge which is why the need for sophisticated business analytics is ever-growing. This trend also gets support from wearable technologies, Artificial Intelligence, and big data which would help to offer deeper insight and reshape the ways sporting disciplines are conducted, managed, and viewed across the globe.
The sports analytics market is set to exhibit a growth rate of about 26%. This is mainly due to strategic alliances with cloud service providers and other tech firms that can enhance product offerings and market reach. For instance, In December 2023, Genius Sports Group launched its new and innovative identification solution, FanHub ID. This privacy-compliant solution utilizes proprietary online and offline data signals to construct fan-based profiles. It provides marketers and content owners with fresh opportunities to reach effectively and measure engaged sports audiences on a large scale.
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