Sports analytics refers to the use of data analytics to improve the performance of a sport's team. The following two reports explore this market.
When you think of sports analytics, gambling might be the first thing to come to mind. While sports analytics can technically encompass gambling, the term refers more to the use of data by a sport's team and/or its managers for the purpose of improving performance.
Sports analytics was placed in the limelight thanks to a recent movie centering around the subject. Starring Brat Pitt and Jonah Hill, Moneyball (2011) is an American sports film that's based on the book of the same name. It follows the Oakland Athletics baseball team during the 2002 season under general manager Billy Beane. Along with assistant GM Peter Brand, Beane takes a different approach by scouting and analyzing players using mathematical data and computations.
According to the Global Sports Analytics Market – Market Size, Trends and Forecasts - (2015 - 2020) report by Wise Guy Reports, the global sports analytics market is expected to grow at a compound annual growth rate (CAGR) of 39.86% through the forecast period, at which point it will reach just slightly under half-a-billion dollars. Of course, the market has already experienced strong growth. The report claims that the use of analytics in baseball has increased to more than 90%; and football to more than 50%; basketball to more than 75%. Furthermore, the analytics platform has a penetration rate of 20%, which is expected to increase in the following years.
Some of the key sports analytics vendors profiled in this report include IBM, SAP, SAS, Opta, Tru Media Network, STATS LLC, Prozone, Oracle Corporation and many others.
The Sports Analytics Market Size, Shares, Strategies, and Forecasts, Worldwide, 2015 to 2021 report by Custom Market Insights is a second comprehensive study on the global sports analytics market. As explained in the report, sports analytics has roots dating back to the 1930s, when Babe Ruth purposely struck out on pitched, and later in the game the pitcher would throw those same pitches only for Babe to knock them out of the park. Sports analytics is more methodical today, but the general principle remains the same: to improve the performance and chance of winning for a sport's team.
Additionally, however, sports analytics are being used in fantasy sports teams, as it provides players with access to key statistics so they can improve their chances of winning. And with fantasy sports at an all-time high, more and more "players" are leveraging the power of sports analytics.
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