Sports Analytics Market to grow at a CAGR of 6%
The Sports analytics market is expected to reach US$ 9.12 Bn by 2031, and is estimated to grow at a CAGR of 33% during the forecast period 2021-2031. According to latest research, sports analytics market is set to witness significant growth during 2021-2031.
In recent years, team management institutes has started working on gathering information and facts about players and other team’s player performances. It helps team management to evaluate team performance, optimizing the training curriculum, tracking individual players, and monitoring injuries at an individual level.
It also helps to streamline the team selection process, deciding players’ lineup, and formulating in-game strategies, to calculate player performance and fitness variables, such as heartbeat, speed, acceleration, and many more. The market will show significant growth in coming years, owing to increase in demand of monitoring and tracking data of players and data aggregation in the sports industry.
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What is Driving Demand for Sports Analytics?
Increase in investments in sports technology for data-driven decisions as well as rise in demand for monitoring and tracking data of players augmenting the growth of sports analytics market. Also the demand for the wearable devices also increases as these devices gives important data like heartbeat, speed, and acceleration.
Sports analytics helps team management, support staff, managers and coaches to utilize real-time data. It make easier for support staff to formulate the gaming strategies, game plans, organize training sessions, work out plans as per the individuals as well as for teams.
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Advent of Technologies like Machine Learning (ML), Artificial Intelligence (AI), and Big Data is Likely to augment the Sports Analytics Market.
Adoption of Machine Learning (ML), Artificial Intelligence (AI), and Big Data in sports industry fuels the growth of the sports analytics market. ML algorithms are able to provide the information like performances of any player/team on home grounds, overseas performances, game conditions, and opponents they are facing.
Clustering algorithm used in targeting specific audience groups to run marketing campaigns and increase the fan base. Big Data analytics helps to boost team efficiency and increasing revenues through various sources like merchandise and ticket sales, media rights, and sponsorships. Adoption of data analytics in almost all the sports all over the world augments the growth of the sports analytics market.
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U.S. Sports Analytics Market Outlook
U.S. is the most significant revenue contributor to the global sports analytics market. U.S. attributes to considerably high investments in new advanced technologies like Machine Learning (ML), Artificial Intelligence (AI), and Big Data.
North America has sports associations like National Basketball Association (NBA), Major League Baseball (MLB), and National Football League (NFL). These associations uses AI technology for video analysis, and does aggressive investments in the latest technologies which fuels the growth of sports analytics market in U.S. region.
The growth in U.S. is attributed to the presence of established players such as IBM Corporation, SAP SE, Tableau Software, LLC, EXL, GlobalStep, Catapult, Experfy, IceBergs Sports, and Chyronhego. Aggressive investments in research & development activities to develop advanced analytics solutions by key vendors augments the growth of sports analytics market in U.S. region.
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Europe Demand Outlook for Sports analytics Market
The European sports analytics industry is clearly dominated by the UK, Germany and France. The football segment is expected to register a CAGR of over 26% over the forecast period.
The major football leagues like UEFA Champions Leagues, Premier League, and Bundesliga are aggressively using analytical data for deciding their player lineups and game strategies. The main participants in such leagues are Germany, Spain, and the U.K. as these countries has immense popularity of football across the world.
Europe has been an early adopter of sports analytics, owing to the football franchise/teams willing to invest in the sports analytics to have competitive advantage over other teams.
Who are the Major vendors of Sports Analytics Market?
Some of the leading vendors and companies of sports analytics include
- IBM Corporation
- Oracle Corporation
- SAP SE
- Sportradar AG
- Tableau Software
- Agile Sports Analytics LLC
- SAS Institute Inc.
- Tableau Software LLC
- IceBergs Sports
- ChyronHego Corporation
- Genius Sports Group
- Sportradar AG
- Qualitas Global
- Zebra Technologies
- Physimax Technologies
Key players in the sports analytics market are focusing on technology integration and strategic partnerships with the regional vendors to collaborate for offering advanced customer experience solutions to effectively manage their business operations.
Furthermore, many companies are focusing on partnership with leading tech-1 tech-2 players present in this market. For instance, on May 2021, Arria NLG announced partnership with Boost Sport AI, to empower digital storytelling across sports media, sports betting, and e-commerce.
The two companies are launching a no-code AI platform that allows content creators to build and deploy authentic sports stories with extreme personalization and limitless scale.
- Sports Analytics Solutions
- Cloud Based
By Sport Type
- Individual Sports
- Team Sports
- Performance Analysis
- Team Performance Analysis
- Competitor Analysis
- Player Fitness and Safety
- Player and Team Valuation
- Fan Engagement
- Broadcast Management
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Sports Analytics Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.