- Sports analytics market is expected to grow from $2.5 billion in 2021 to $8.4 billion by 2026
- Data Analytics Market size would be $5 billion by 2025; the future of implementing the cloud power and boosting data storage + analysis is only going to get bigger and powerful
Sports have become increasingly data driven. From fan experience to analysis, data has become an indispensable to the world of sports. This dependence seems more obvious if we look at the data, one of which shows that the sports analytics market is expected to grow from $2.5 billion in 2021 to $8.4 billion by 2026. However, when we look at it from a grass-root level, there are still some gaps that can be addressed effectively and can create new avenues. One such missing block is the possibility of data storage for matches that are played intercity, inter-district, inter-college or even between societies. Though this might not be the immediate need for the hour, having the possibility of storing data for these matches too would be interesting and empowering for the teams involved. And the only solution that can come to the rescue is by making innovative use of cloud power.
For the local sports teams, there is a growing need to have the option of storing and then seamlessly accessing their data for enhanced archival capabilities. Flexible and sustainable cloud solutions can be the game changer in this situation. Storage and data backup at such grass-root level is an area that should be utilised effectively in sports entrepreneurship, and this is soon going to be a huge business opportunity for companies operating in this sector. The sports tech industry has been on an upswing since quite some time now, and the post pandemic time is seemingly getting more lucrative for businesses in this segment.
While the Sports Tech Industry faces a lot of challenges in positioning in the market space at present, there have been many primary issues that influence the absolute user experience. However, the development of any sports related app needs improvisation with the aid of much simpler technological means; there are a few factors that the sports industry lacks. The prime factors that are now much efficient for the sports tech development industry are as follows –
- An Editor to simplify Match Entry workflow with much improved API Schema
- Monetizing data created by various Universities and clubs across the world
- Market Space for Sports Data
- Real Time Collaboration
- More coverage of data
- One and ultimate platform with the solution of unlimited sports data
All of the above stated factors remain to be a great need in the entire sports tech development industry. There is also a survey stating that Data Analytics Market size would become 5 Billion Dollars by the year 2025. So, the future of implementing the cloud power and thereby boosting data storage + analysis is only going to get bigger and powerful.
On the other hand, the recent adoption of technology in the sports tech field is gradually modifying according to the user’s experience through the products and services, the sports tech industry keeps proving with many emerging trends and developments that it is a wide medium and can become accessible to everyone from anywhere in the world.
Winding up, the sports tech industry is at a point where it is bringing up many innovations gradually. It is still expected to see an even bigger increase of sports tech startups and expert companies that can lead to resolve all the disadvantages that are faced at present in order to pave the way for a setting where innovation flourished in the long run with delivering the best products and services offered.