Understanding player performance is important for coaches, analysts, and game developers in both the sports and gaming industries. Player tracking is one kind of system that is transforming the way we access and enhance player performance by incorporating advanced technologies. In this blog, we will delve into the world of player tracking, unveiling its benefits and potential of player tracking market.
What is Player Tracking?
Player tracking refers to the process of capturing and analyzing data on the movements and actions of players in sports. The data is collected using advanced technologies like sensors, computer algorithms, and cameras. In video games, data is achieved through in-game analytics. The aim is to automate the process of tracking and obtaining detailed insights into player performance and strategy. These insights provided by player tracking systems can help coaches, analysts, and sports scientists understand player strengths and weaknesses, enhance injury prevention strategies, and improve overall team performance.
Benefits of Player Tracking
- Performance assessment
- Valuable insights
- Injury prevention
- Maximize players’ potential
- Talent Identification and rewards
- Real-time feedback to players
Some of The Key Statistics
- The global player tracking market was valued at USD 4.60 billion in 2022 and is expected to reach USD 24.60 billion with a CAGR of 19.01% during the forecast period.
- According to Torrens University Australia, the industry has experienced one of its most significant development periods in history, with growth averaging 4.3% since 2014.
- The value of the sports industry was approximately USD 488.5 billion in 2018, but it is now estimated to be worth more than USD 500 billion.
Market Dynamics
The rising popularity of sports betting and fantasy sports is fueling the market growth. According to available data, legal sports betting has experienced remarkable growth since the Supreme Court’s decision to overturn a long-standing federal ban in June 2018. In just 14 states where sports betting is legal, and data is accessible, it is estimated that over $17 billion has been wagered, resulting in an impressive revenue of approximately $1.2 billion.
Also, the increasing development of new betting markets and products is boosting player tracking market growth. Rising demand for advanced technologies such as GPS, radio-frequency identification (RFID) tags, optical tracking systems, and motion sensors to enhance the quality of gameplay and improve the viewing experience for fans has led to an increase in the popularity of various sports. This is another factor supporting the market growth.
Which Application Segment Dominates the Market?
Performance tracking segment is predicted to register a significant revenue share in 2022 based on application. This growth can be attributed to a surging demand for performance-tracking systems in sports companies. Also, coaches, trainers, and athletes are increasingly using on data-driven insights to analyze performance and improve game strategies.
To Wrap Up
During the forecast period, North America is expected to show higher growth and major player tracking market share. Player tracking is expected to revolutionize the world of sports analysis with its ability to obtain and assess detailed information on players. With rising technological developments, we can anticipate even more attractive developments in this field.