One of the key factors projected to fuel global sports analytics market revenue growth over the forecast period is rising need for player performance tracking and analysis. In addition, rising demand for sports analytics solutions to estimate player worth in player transfers is predicted to drive the global sports analytics market's revenue growth in the future.
Covid-19 Impact & Market Status
The COVID-19 pandemic is expected to stymie the market's revenue growth, owing to a slowdown in the sports industry, which is a major driver of the market. Most important sporting events at the world, regional, and national levels have been cancelled or postponed to protect the health of players, including marathons, football tournaments, athletics championships, basketball games, handball, ice hockey, and rugby, among others.
The worldwide sports analytics market is becoming more competitive as a number of small and medium-sized businesses enter the market. As a result, significant players are exploring various company expansion activities, such as strategic partnerships and mergers and acquisitions. Stats Perform, for example, secured a multi-year arrangement with New Zealand Cricket in November 2020 to gather, analyse, and distribute ball-by-ball match data to the New Zealand team, as well as broadcast it to media, fantasy, and betting operators. Sportsradar AG has announced a cooperation with Badminton Europe, the regulatory body for badminton competitions across Europe, in July 2020.
The sports analytics industry has been divided into software and services based on component. Due to rising use of sports analytics software, which can be partly ascribed to growing desire for cloud-based software solutions, the software category accounted for the biggest market share in 2021.
Sports Type Segment
The sports analytics market is divided into two categories: team sports and individual sports. In 2021, the team sports segment will dominate the sports analytics market, since leagues are the key users of sports analytics solutions, particularly for player selection. Football, baseball, and basketball leagues have the greatest acceptance rate of these solutions.
The sports analytics market is divided into four categories based on application: player and team valuation, performance analytics, health assessment, fan interaction, broadcast management, video analysis, and others. In 2021, the player and team valuation segment will be the most popular due to advancements in technologies such as big data, which allows coaches, individuals, schools, teams, and sporting organisations to make informed decisions and improve overall performance by delivering scientific sports data in an easy-to-understand format.
The sports analytics market is divided into two categories based on deployment mode: on-premise and cloud. In 2021, the cloud category will be the most popular due to the growing demand for organised and visualised data in the industry, which will drive up demand for cloud deployment.
The sports analytics market is divided into major organisations and small and medium-sized businesses (SME's) based on organisational method. Due to the widespread use of analytics in large organisations to improve business performance and function effectively, the large enterprises segment will dominate the sports analytics market in 2021.
The sports analytics market is divided into two types of analysis: on-field and off-field. Due to the growing use of analytical solutions in outdoor games such as football, baseball, basketball, hockey, and cricket, among others, the on-field segment will dominate the sports analytics market in 2021. The use of analytical tools in sports provides an abundance of data related to the player's performance and fitness.
The research examines the global market in terms of various geographical areas. The global market is divided into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa, according to the regional study. Import export consumption, supply and demand ratios, cost, pricing analysis, gross margin, and revenue estimation for each participant in each region are all covered in the study. The paper examines market dynamics and trends on a regional and worldwide level in great depth.
The research article focuses on the leading participants' strengths and weaknesses, providing a detailed SWOT analysis as well as an analytical study of their evolution through significant historical analysis. The Sports Analytics market is also divided into product kinds, applications, regions, and end-user industries.
The use of data and advanced statistics to gauge success in the sports sector by making competitive and strategic sports decisions is known as sports analytics. When used correctly, sports analytics can provide a team or individual with significant competitive advantages. As technology advances, data collecting gets more difficult, and the amount of available data grows, so does our ability to examine and improve its efficiency. Sports analytics market is projected to grow USD 3.44 billion by 2028 registering at a CAGR of 21.3% during 2021 to 2028.
The growing availability of vast amounts of in-field data is propelling the sports analytics sector forward. The sports analytics market is being held back by a lack of subsidies or budget constraints resulting from a lack of government support in some countries for sports. The development of artificial intelligence (AI) and machine learning (ML) technologies is accelerating the growth of the sports analytics market. The most significant barrier for the sports analytics market is the burden of add-on charges or the high set-up costs.
This sports analytics market report details market share, new developments, and product pipeline analysis, as well as the impact of domestic and localised market players, emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations. Contact Data Bridge Market Research for an Analyst Brief to better understand the study and market scenario for sports analytics. Our experts will assist you in developing a revenue impact solution to attain your desired goal.
Coaches and team managers can use sports analytics to gain in-depth insights on numerous factors and player performance, as well as develop successful training sessions based on such insights. Physical parameter monitoring can also be combined with predictive analysis to aid in the prevention of future injuries.
Leading clubs and associations have already begun integrating sports analytics systems and recruiting professional analysts as part of their efforts to improve individual player and team performance, acquire a competitive advantage both on and off the field, and outperform their competitors.
The major players of the global Sports Analytics market are Agile Sports Analytics, Catapult, ChyronHego Corporation, Deltatre, Experfy Inc., Genius Sports Group, IBM Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Sportradar AG, Stats Perform. Further, renowned industry players are unraveling new product portfolios and technological advancements for market fortification amidst Covid-19 impact.
Latest Innovations in the Global Sports Analytics Market: a Snapshot
- IBM and the Columbus Crew Soccer Club struck a deal in March 2019 to bring a digital experience to the team's new stadium, which is set to open in 2021. IBM services and digital agency IBM iX will create a plan for engaging spectators and building an experience for a 430,000 square foot stadium with 20,000 seats and 30 suites as part of this cooperation.
- In 2019, the Special Olympics World Games Abu Dhabi Local Organizing Committee (LOC) has partnered with SAS Institute, which provides AI and machine learning technologies to athletes for analysing traditional and nontraditional data and gaining insights, resulting in improved performance at the World Games Abu Dhabi.
- STATS, a London-based sports media company owned by Access Industries, merged with PERFORM, a European-based sports news and video content provider, in July 2019, to provide AI-based data, sports news, and video content to sports media, teams and leagues, and fantasy providers to better understand the complexities of games and gain new insights for better performance.
Sports Analytics Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 3.44 billion|
|Growth Rate||CAGR of 21.3% during 2021-2028|
|Segment Covered||Component, Sports Type, Deployment, Analysis, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||Agile Sports Analytics, Catapult, ChyronHego Corporation, Deltatre, Experfy Inc., Genius Sports Group, IBM Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Sportradar AG, Stats Perform. Further, renowned industry players are unraveling new product portfolios and technological advancements for market fortification amidst Covid-19 impact.|
Key Segments of the Global Sports Analytics Market
Component Overview, 2018-2028 (USD Billion)
Sports Type Overview, 2018-2028 (USD Billion)
Deployment Overview, 2018-2028 (USD Billion)
Analysis Overview, 2018-2028 (USD Billion)
- Ticket Pricing
- Fan Engagement
- Video Analysis
- Player & Team Analysis
- Health Assessment
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa
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