Sport Team Investments through 2022 Will Focus on Artificial Intelligence and Virtual Reality
SAN FRANCISCO, Nov. 15, 2017 /PRNewswire/ -- WellPlayed Sports, a research and analysis firm focused on professional sports technology, today released the first global market research report focused on "Moneyball"-type technology and data analytics used to improve the performance of professional sports teams. The report, entitled "The State of Performance Technology in Professional Sports Teams," examines the technologies and data analytics solutions that sports such as baseball, basketball, cricket, football, ice hockey and soccer are using to achieve more wins. WellPlayed predicts the performance technology and analytics market specifically targeted to professional sports teams and leagues will reach $1 billion USD by 2022. Teams reported budget spend will concentrate on Artificial Intelligence (AI) and Virtual Reality (VR) during that time, with increases of 200% or more.
"Moneyball analytics is about improving team performance without breaking the bank," said Jane Gideon, CEO of WellPlayed Sports. "However, most research lumps together all sports technologies, including consumer fitness products, ticketing and merchandising solutions, or even fan engagement and stadium technologies which have nothing to do with helping teams win. Our report focuses on the technologies professional sports teams are using to find a competitive edge during play."
The WellPlayed State of Performance Technology report covers market size forecasts, technologies teams say are most valuable for performance gains along with products that haven't lived up to their promise. While professional leagues and teams have precise standards for equipment, from ball size, bat construction, field dimensions and goal requirements, leagues have not tackled minimum requirements for technology. Currently, there are no vetting procedures for data quality, security or policies around how data can be used, collected or even who has rights to the data. These uncertainties threaten to undermine the promise of technology.
WellPlayed's research found that data inaccuracies have caused a decline in spending across some technologies that have not delivered on their hype, such as wearables and video. The paper discusses how league standards and technology policies would lead to better quality products and minimize risks while ensuring the health, safety and protection of athletes, teams and the leagues.
The WellPlayed Sports "State of Performance Technology in Professional Sports Teams" report is available online for download at https://www.wellplayedsports.com. The global market report pricing starts at $3495 USD.
About WellPlayed Sports
Founded in 2015, WellPlayed Sports provides research and analytics services and solutions for professional sports teams and leagues around the world. The company prepares sports technology reviews, research and tests, and reports on overall market trends. WellPlayed Sports also consults with technology companies, teams and leagues on protocols for technology and analytics in the business of sports. For more information, visit www.wellplayedsports.com.
SOURCE WellPlayed Sports