|Stats Perform (US)|
|Hudl (Agile Sports Technologies) (US)|
|Oracle Corporation (US)|
|Salesforce.Com Inc. (US)|
|Experfy Inc. (US)|
|Market Driving Forces|
|Growing Demand for Real-Time Data Access.|
|Increasing Demand for Predictive Insights into Fan Preferences|
The Sports Analytics Market is estimated to record a CAGR of over 20.2% to reach $ 8,321.5 million by the end of 2027.
Sports analytics is a compilation of useful historical statistics that can give a team or person a competitive advantage. Sports analytics inform players, coaches, and other staff by collecting and analyzing data to help them make better decisions during and before athletic events. The analysis of sports data, which includes aspects of sports such as player performance, business operations, and recruitment, is known as sports analytics. Individuals and teams competing in a competition and sports enterprises can benefit from the data.
COVID-19 Impact vs Opportunities for Global Sports analytics Market:
The IT industry boomed during the pandemic due to the rise in dependence on virtual communications, productivity tools, online media, entertainment, gaming, cloud-based solutions, and online banking & payment services, among others. Additionally, sports analytics has reported a rise in the demand for gambling, mainly due to higher chances of return on investments, increasing web traffic to betting platforms.
High-performance computing (HPC) technology can process data and perform complex calculations at high speeds. Sport organizations have been using HPC technology on and off the field, making it possible to analyze huge amounts of data in a single platform to make suitable decisions and changes. The solutions help track a player’s performance and identify the areas where their activity needs improvement. Technological developments are expected to shape the future of the sports industry as the accelerated digital revolution provides more possibilities for the sports sector.
Zebra Technologies Corporation has partnered with NFL to expand its customer base across Europe. They will share key team and player insights from the 2021-22 season, preview the Super Bowl matchup, take attendees inside Zebra's player and ball tracking technology, discuss Zebra's eight-year partnership with the NFL, and look ahead to the future of sports technology.
Deltatre can announce the release of the OTT video player DIVA, which will support several features such as fan engagement, multi-camera viewing, 360-degree support, and is used by BT Sport, NFL Game Pass, and other prominent streaming platforms - allowing for easier integration with a client's existing technology stack.
In tennis, PlaySight has introduced a smart court that uses IoT technology to measure the speed of the player's tennis serve. It also provides instant video replays and live video streaming, general statistics, and tactical 3D analysis.
Growing Demand for Real-Time Data Access: The continuous advancements in wireless (sensor) and mobile technology are presenting new opportunities for the development of sports applications.
Increasing Demand for Predictive Insights into Fan Preferences: Fans are considered to be true brand partners for sports, and thus, there has been a rise in demand for predictive insights into fan preferences by many organizations operating in the sports and related industries to improve fan experiences and cater to them more effectively.
Availability of Cost-Effective and High-End Computing Solutions: The rapid digital innovation resulting in the availability of cost-effective and high-end computing solutions is expected to present lucrative growth opportunities for the vendors operating in the global sports analytics market.
Lack of awareness about technology in sports: Technology is a significant aspect of modern sport, with some sports such as motorsport requiring it and others using it to boost performance. Thus, the lack of awareness about the benefits of using advanced technology in sports applications is expected to act as a restraint for the growth of the global sports analytics market during the forecast period.
Lack of appropriate analytical skills: Analytical skills are required to properly use sports analytics software and make use of them to their full extent. However, the availability of individuals with such skills is low, creating a challenge in adopting and using sport analytical technologies, which is likely to create a challenge for the vendors providing the solutions.
Value Chain Analysis
The global sports analytics market value chain involves three stages of value addition: software/application development by developers, platform integrators, and the end users of the sports analytics platform in the form of a mobile-based or a web-based application.
The global Sports analytics market has been segmented on the basis of sport, type, component, deployment model, application, and region.
The global sports analytics market, based on sport, has been segmented into football, cricket, baseball, basketball, rugby, and others. The football segment accounted for the largest market share in 2020 and is estimated to register a CAGR of 43.1% during the review period.
The global sports analytics market, based on type, has been segmented into on-field and off-field.
The global sports analytics market, based on component, has been segmented into solutions and services.
Based on the deployment model, the global sports analytics market has been divided into on-premises and cloud.
The global sports analytics market, on the basis of application, has been segmented into performance tracking & analysis, health assessment & injury prediction, fan engagement and digital experience analysis, event ticket pricing & merchandise sales, player scouting & valuation, and others.
The global sports analytics market has been studied across Asia-Pacific, North America, Europe, and Rest of the World. North America accounted for the largest market share of 42.3% in 2020. North America is one of the largest regional markets and is expected to witness significant growth for the sports analytics market as the demand for agile, scalable, and cost-effective computing is high in the region.
The sports analytics market in Europe is expected to witness significant growth owing to the presence of many developed nations and their willingness to adopt new technologies. In the European sports analytics market, Germany is expected to dominate the sports analytics market in this region.
The increasing preference among team managers and coaches to utilize real-time data to formulate gaming strategies and organize training sessions in the region are some of the essential factors that anticipate the rise in sports analytics solutions.
Oracle aims to grow sustainably and responsibly. Its core strategic initiatives are serving customers better, improving product quality, boosting growth in its core business, and winning with solutions. The company continuously seeks to make technologically advanced and efficient products by significantly investing in its R&D abilities.
Key players operating in the global sports analytics market include Oracle (US), IBM Corporation (US), Sportradar AG (Switzerland), Deltatre (UK), Hudl (US), SAP SE (Germany), SAS Institute Inc. (US), Trumedia Networks (US), Salesforce.Com Inc. (US), Stats Perform (US), Catapult Group International Ltd. (Australia), Accenture plc (Ireland), and Experfy Projects (US).
Oracle and SailGP, sailing’s premier racing league, have expanded their data analytics platform leading into the second season in 2021.
The Sportradar AG Company announced a three-year extension to its agreement with the International Tennis Federation (ITF) to serve as the ITF’s Official Data Partner in 2021.
The Sportradar AG company announced its acquisition of sports betting and gaming omnichannel platform business Optima in 2021.
Stats Perform announced an extension to its agreement with K-Sport, who will continue to be part of Stats Perform’s SPIN network for another four years in 2021.
As per MRFR, the global sports analytics market has been growing significantly over the past few years. The global sports analytics market has been segmented on the basis of sport, type, component, deployment model, application, and region. Based on region, the graphical user interface design software market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Objective of the Study
Scope of the Report
The scope of the global sports analytics market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The global sports analytics market has been segmented on the basis of sport, type, component, deployment model, application, and region.
|Market Size||2027: USD 8,321.5 Million|
|CAGR||20.2% CAGR (2021-2027)|
|Forecast Period||2021 to 2027|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Deployment, Organization Size, Vertical, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World|
|Key Vendors||Stats Perform (US), Hudl (Agile Sports Technologies, Inc.) (US), Oracle Corporation (US), Salesforce.Com Inc. (US), Experfy Inc. (US)|
|Key Market Opportunities||• Availability of Cost-Effective and High-End Computing Solutions|
|Key Market Drivers||• Growing Demand for Real-Time Data Access • Increasing Demand for Predictive Insights into Fan Preferences|
According to Strategic Market Research, is likely to reach a landmark of nearly USD 8,321.5 Million in 2027 with a robust CAGR of 20.2%.
Yes. Sports analytics is a growing field that manages historical sports data and real-time analysis. It has a massive demand in the sports industry globally in every sport, including Cricket, Football, Tennis, badminton, and many more. With such high demand, the Sports analytics sector is expected to earn USD 8.4 billion by 2026 with a CAGR of 40%.
Stats Perform (US), Hudl (Agile Sports Technologies, Inc.) (US), Oracle Corporation (US), Salesforce.Com Inc. (US), Experfy Inc. (US) are expected to be the major competition in the Sports analytics market during the projected period.
The North America region is expected to be the largest market for sports analytics market during the forecast period.
Lack of Awareness About Technology in Sports may slow the growth of the Sports analytics market during the forecast period.
The football segment is expected to drive the market during the forecasted period.
Sports Analytics comprises collecting and recording real-time data regarding a particular sport and presenting it interactively to understand the statistics and make the viewers understand the game in detail. For this, the sports industry utilizes high-end software solutions that record real-time data and have historical data backing.