The global sports analytics market size to grow at a CAGR of 22.0% during the forecast period
The sports analytics market size is projected to grow from USD 1.9 billion in 2019 to USD 5.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. The sports analytics market is driven by increasing demand for predictive analysis, which is boosting fans’ experience in stadiums and provides detailed statistical data for athletes performance analysis. Predictive analysis helps in boosting athlete performance by optimizing ticket pricing. A few of the restraints for the market growth are the dearth of budget for investing in advanced technologies by various teams and leagues and the lack of awareness for various advanced technologies in the sports analytics market.
Team sports segment to grow at the highest CAGR during the forecast period
The sports analytics market by sports is segmented into individual sports and team sports. The team sports segment is expected to grow at a rapid pace during the forecast period. The sub segments of team sports considered in the report are cricket, football, hockey, and basketball. The football sub segment has the highest growth rate during the forecast period, due to the increased number of leagues performance in various regions. The growth of this segment can be attributed to the increasing deployment of the sports analytics technology, which leads to the rising demand for pre- and post-match performance videos to have better analyzing capability for players performance.
Performance analysis segment to grow at the highest CAGR during the forecast period
The sports analytics market by application has been segmented into performance analytics, player fitness and safety, player and team valuation, fan engagement, and broadcast management. The performance analysis segment is growing at a fast pace due to the increasing demand for structured data required by teams and coaches for better analyzing and improving the player performance. Furthermore, followed by performance analysis, fans engagement is also growing, which increases the overall revenue of various sports, leagues, and clubs.
Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the emergence of various sports analytics software and services, which help the player get a statistical and structured data to analyze the performance and increase the use of digital-based technology, such as sensory devices.
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the sports analytics market.
- By Company: Tier I: 38%, Tier II: 41%, and Tier III: 21%
- By Designation: C-Level Executives: 65%, Directors: 20%, and Others: 15%
- By Region: North America: 45%, APAC: 30%, Europe: 15%, MEA: 5%, and Latin America: 5%
The report includes the study of the key players offering sports analytics. It profiles major vendors in the global sports analytics market. The major vendors are IBM (US), SAS Institute (US), Tableau Software (US), EXL (US), GlobalStep (US), Catapult (US), SportsSource Analytics (UK), HCL (India), Experfy (US), IceBergs Sports (Canada), Chyronhego (US), Stats Perform (US), TruMedia Network (US), DataArt (US), Orreco (Ireland), Advanced Sports Analytics (US), Qualitas Global (India), iSportsAnalysis (UK), FORMCEPT (India), Quant4Sport (Italy), Physimax Technologies (US), and Zebra Technologies (US). It also includes an in-depth competitive analysis of key players in the sports analytics market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
The market study covers the sports analytics market across segments. It aims at estimating the market size and the growth potential of this market across segments, such as sports types, deployment models, applications, and regions.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall sports analytics market and sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report further helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.