SPORTS ANALYTICS MARKET: OVERVIEW

The Sports Analytics Market was valued at USD 3.67 Billion in 2021, the market is projected to grow USD 15.55 Billion in 2030, at a CAGR of 22.6%. Sports analytics gives players, coaches, and management staff game-related insights that help them improve their skills, strategies, and performances. In order to forecast historical results, win-loss records, opponent histories, as well as the outcome of a future sporting event, it offers a complicated framework for number-crunching. The sports industry is using sports analytics to gain a competitive advantage through shrewd strategy and decision-making. The sports industry uses sports analytics to increase player and team performance, increase revenue, decrease injuries, and make several other changes.
 

COVID-19 ANALYSIS

The COVID-19 pandemic had a negative effect on the global sports analytics market. Due to the coronavirus pandemic, important sporting events like the Olympic Games, UEFA Euro 2020, the ICC Men's T20 Cricket World Cup, and many more had to be postponed. Investment in technology and athlete compensation have to be reduced as a result of substantial losses in the sports industry. On an international, regional, and national level, numerous important sporting events, such as football tournaments, marathons, handball, basketball games, athletics championships, rugby, ice hockey, and others, have been cancelled or postponed to preserve the health of sportsmen and players.
 

SPORTS ANALYTICS MARKET: TREND

Increasing Investment by Sports Organizations in Emerging Economies

The use of data-driven decision-making at all levels by sports organizations, from player recruitment to fan engagement, is predicted to be the key driver of the sports analytics market. The market growth is being further accelerated by the adoption of cutting-edge sports technology to collect trustworthy quantitative data to better game play.  
 

The development of technology has greatly increased the significance of analytics. The organizers create game strategies based on statistics and data in order to win the game using data analytics. These cutting-edge analytical tools are essential for developing in-game strategy because they give management, stakeholders, coaches, and players access to a tool that produces insightful data on a variety of team and player-level metrics. In order to develop a better strategy, the solutions give managers information about players as well as information on the weather and pitch conditions. This factors drive market growth during the forecast period.
 

SPORTS ANALYTICS MARKET: DRIVERS

Growing Adoption of Wearable Devices Drive Market Growth

Wearable technology is becoming more prevalent in the sports business, which is projected to fuel growth in the recording and monitoring of athlete statistics. To learn more about player fitness and performance traits like heart rate, speed, and acceleration, a significant amount of data on the players and the team is generated as a result. Machine learning and artificial intelligence modelling may prove helpful in the medical decision-making process as sports scientists, team doctors, and athletic trainers translate data from wearable devices to make decisions regarding the safety, health, and productivity of players.
 

SPORTS ANALYTICS MARKET: RESTRAIN

Solutions for Sports Analytics are Expensive

The worldwide sports analytics market's growth is projected to be constrained by the high cost of analytics solutions. Additionally, lack of awareness of the benefits of sports analytics is one of the factors limiting the growth of the sports analytics industry.
 

SPORTS ANALYTICS MARKET: SEGMENTATION

The Global Sports Analytics Market is segmented by Component, Analysis Type, Deployment, Sports Type, Application, and Region. Based on the Component, the market is categorized into Software and Service. Based on Analysis Type, the market is categorized into On-field and Off-field. Based on Deployment, the market is categorized into On-Premise and Cloud-based. Based on the Sports Type, the market is categorized into Individual Sports, Teams Sports, and eSports. Based on the Application, the market is categorized into Performance Analytics, Player and Team Valuation, Health Assessment, Fan Engagement, Broadcast Management & Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
 

SEGMENTATION: BY REGION

Based on the Region, the Global Sports Analytics Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
 

North America region is expected to dominate the market share of global sports analytics market due to rising rates of technological adoption and changing market dynamics. The key players are increasingly focusing on reducing maintenance and update costs, which is driving increased demand for cloud-based software. This is due to the advantages of cloud-based solutions, which include rapid scalability, cheap cost, unbroken service, and simple access. Baseball and basketball leagues have the highest adoption rates, particularly for player selection. The primary consumers of sports analytics tools are leagues. Several ice hockey clubs have just started to make analytical investments, but the American Football market is still huge.  However, owing to their established sports cultures, countries like China, India, and Japan are projected to have significant demand, and the Asia Pacific region is expected to experience the greatest growth rate over the forecast period of the global sports analytics market. It is projected that the advent of new sports leagues, considerable investments in sports, and digitization would all significantly affect market growth.
 

SPORTS ANALYTICS MARKET: KEY PLAYERS

• Catapult Group
• ChyronHego Corporation
• DataArt
• Deltatre
• Experfy Inc.
• Genius Sports Group
• GlobalStep, LLC
• HCL Technologies Limited
• IBM Corporation
• Oracle
• SAP SE
• SAS Institute Inc.
• Sportradar AG
• Stats Perform
• TABLEAU SOFTWARE, LLC
• Zebra Technologies Corp.
• Others

SPORTS ANALYTICS MARKET: RECENT DEVELOPMENT

• May 2022- The England and Wales Cricket Board (ECB) and Sportradar's InteractSport today announced the renewal of their multi-year relationship to continue providing electronic scoring and fan engagement tools to the recreational cricket community.
• April 2022- Deltatre can announce to introduce OTT video player DIVA which will support several features including Fan engagement, Multi-camera viewing, 360-degree support and used by BT Sport, NFL Game Pass, and other prominent streaming platforms – that allows for simpler integration with a client’s existing technology stack.
• January 2022- Zebra Technologies Corporation has partnered with NFL to expand the customer base across Europe.

SPORTS ANALYTICS MARKET: REPORT OVERVIEW

The scope of the report includes a detailed study of regional markets for Global Sports Analytics Market. The Global Sports Analytics Market is segmented by Component, Analysis Type, Deployment, Sports Type, Application, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Sports Analytics Market.