Sports Analytics Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud and On-premise), By Type (On-field and Off-field), By Solution (Video Analytics, Bio Analytics, Smart Wearable Technology, and Others), By Technology (AI, Big Data, and Others), By End-user (Team and Individual), and Regional Forecast, 2023-2030

The global sports analytics market size was valued at USD 2.98 billion in 2022 and is projected to grow from USD 3.78 billion in 2023 to USD 22.13 billion by 2030, exhibiting a CAGR of 28.7% during the forecast period.

The sport analytics solutions provide game insights that help coaches, management officials, and athletes enhance their game skills, strategy, and performance. It offers an enhanced method of crunching numbers to predict earlier win-loss records to determine the result of an upcoming sporting event. Additionally, the sports industry uses analytics to increase athlete performance and a team’s quality of play, revenue, and injury prevention.

Moreover, incorporating artificial intelligence and machine learning technologies in sports analytics produces gainful opportunities for the sports analytics market growth.

COVID-19 IMPACT

Increased Adoption of AI-Based Sports Analytics Solutions to Boost Market Growth

The pandemic had a significant impact on all enterprises' operating activities. Sports organizations started resorting to online solutions. With the support of AI-based technologies, many companies have already implemented these solutions for athletes to enhance fan experience and gain unique insights.

The increased market readiness to purchase AI-based software could lead to even faster AI adoption of core sports analytics than projected, resulting in stronger AI and overall revenue growth in the coming years.

LATEST TRENDS

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Changing Sports Dynamics and Technology Adoption to Drive Sports Analytics Growth in the Forecast Period

The unpredictable market condition and advanced technological implementation rates are increasing the utilization of these solutions worldwide. As companies focus on dropping upgrade and maintenance costs, the demand for software delivered on the cloud is being maximized as cloud-based solutions offer benefits such as rapid scalability, low cost, easy access, and uninterrupted service.

Moreover, the increasingly competitive nature, the necessity to develop decision-making to gain an advantage over competitors, and social media impact have exponentially propelled the acceptance of analytics. Further, clubs and teams associated with analytics organizations are an important trend. For instance,

• Numerous football clubs and leagues have associated with Opta, the provider of football sports data. The company’s analytics can predict specific actions of a player in an accurate area on the playing field, regardless of whether they possess the ball.

The growing competitive environment, the need for enhanced decision-making to obtain an advantage over their competitors, the necessity for strategy execution for matches on the field, and social media impact are projected to drive the adoption of analytics.

Thus, the changing sports dynamics and rising technology adoption in sports will likely fuel the sports analytics market share during the forecast period.

DRIVING FACTORS

Rising Adoption of Big Data Analytics to Boost Market Growth

The usage of innovative technologies, such as Big Data, IoT, cloud, and analytics, mobility, and social media has led to transformation and innovation, inspiring growth in the business environment. This demand for in-depth knowledge has enhanced the acceptance of Big Data and related technologies. The increasing growth in data capacity is due to the development of businesses globally, which drives the continuous increase in data sources and volumes.

Sports companies embrace analytics to develop decision-making and aid individual and team performance. Using cost-effective solutions, small sports firms might gain a surplus from this solution and improve their team's position in their respective competitions. Additionally, advancements in Machine Learning (ML), Artificial Intelligence (AI), and Big Data have transformed the entire sports industry, which is further expected to create ample growth opportunities for the market.

RESTRAINING FACTORS

Lack of Awareness about the Benefits and Integration of Data from Data Silos May Impede Market Growth

North America and Europe have seen increasing demand for technologies such as Big Data analytics, AI, and ML to enhance their performance, while companies in the other regions lack in implementing analytics and other technologies due to stringent political factors and low technology penetration.

Furthermore, sports organizations across regions depend on traditional analysis approaches and employ retired athletes or sportspersons as trainers to train their sports physiotherapists and teams to study the health of their athletes.

Mining value from data has become a crucial necessity for businesses to effectively target valuable customers, mitigate risks, and estimate business performance. Monetizing these data assets requires the availability of an adequate amount of information. However, merging data from different data sources into meaningful information can spur several new challenges for businesses, especially centralized enterprises.

Thus, the abovementioned factors could hinder market growth.

SEGMENTATION

By Deployment Analysis

Cloud Segment to Dominate Owing to Rapid Digital Transformation

Based on deployment, the market is bifurcated into cloud and on-premises. The cloud segment is leading owing to the growing demand for structured and visualized data in the market, which is anticipated to raise the demand for cloud-based deployment models. Furthermore, the growing demand for cost-effective, secure, and scalable solutions will boost private cloud demand across large enterprises. During the forecast period, cloud services will probably lead the market share. The growth can be attributed to increased penetration of digital transformation, connected devices, and growing automation among small & medium-sized businesses.

By Type Analysis

On Feld Segment to Generate Highest Share Due to Increasing Use of On-Field Analytical Data

Based on type, the market is segmented into on-field and off-field. The on-field segment held the largest revenue share in 2021 and the demand is expected to lead continuously during the anticipated period. The segment's growth is attributed to the growing usage of on-field analytical data such as player & team analysis, health assessment, and video analysis. Implementing on-field data analysis solutions in sports, including cricket, football, rugby, and swimming, has recently improved.

Off-field analytics primarily develops the operational and business efficiency of sports teams. Off-field analytics is used by stakeholders, fantasy gaming, and betting applications to enhance productivity by building the right decisions. A growing trend among sports fans to comprehend sports dynamics is likely to boost the CAGR during the forecast period.

By Solution Analysis

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Smart Wearable Technology to Produce Maximum Revenue Share Owing to Rapid Increase in Real-time Monitoring

Based on the solution, the market is classified into video analytics, bio analytics, smart wearable technology, and others. The smart wearable technology segment held the maximum revenue share in 2021. Sports analytics contains huge datasets from teams and athletes that compute competition and training efforts. Wearable technology gadgets are worn by players daily and offer significant opportunities for an in-depth view of players' recovery and stress.

Furthermore, video analytics is expected to grow at the highest CAGR during the anticipated period as it has numerous applications in sports and science. Athletes and coaches are using video analytics to analyze individual and team performances. Video analytics tools can be used for biomechanics research, gait analysis, and injury rehabilitation.

By Technology Analysis

Big Data to Hold Maximum Share Backed by the Need to Create Unique Strategies for Teams

Based on technology, the market is classified into AI, Big Data, and others. Among them, the Big Data segment held the maximum revenue share in 2021 as specialized athletes and teams rely on this technology to win against their competitors. Present coaching uses Big Data, which builds winning strategies to aid individual players and the team. Data science enables trainers of specialized teams to produce customized athlete matchups and other strategies for each match. This way, the team’s strategies are unpredictable yet productive, fueling the sports analytics market during the forecast period. For instance,

• Liverpool FCs’ trainers utilize data science to supervise Premier League and Champions League competitors.

Moreover, AI is anticipated to grow at the highest CAGR during the forecast period owing to the advantages it offers to analyze and improve the performance of athletes. AI-based solutions aid in comprehending these crucial parameters. For instance,

• NEX Technology uses machine learning and computer vision to examine the talent of basketball athletes. It calculates the performance metrics such as ball handling, release time, speed, progress over time, vertical jump, and shot.

By End-user Analysis

Teams Segment Accounts for the Largest Share Fueled by Consistently Owing to Rising Popularity

Based on end-user, the market is classified into teams and individuals. Among these, the teams segment is expected to have the highest revenue share. Football is one of the most popular sports played and seen globally, which is likely to fuel the teams segment in the forecast period. For instance,

• According to FIFA, roughly 265 million individuals, including men and women, play football globally, of which more than 3.5 billion fans exist. These figures keep rising as football gains popularity internationally.

Data analytics in on-field games aids in gathering valuable insights such as passing trends, acceleration, player performance, and the number of touchdown passes. The exclusive benefits offered by the tools in football and high investments by football teams in data analytics solutions to obtain an advantage are anticipated to fuel the segment's growth.

REGIONAL INSIGHTS

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Geographically, the market is divided into five key regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America. They are further categorized into countries.

North America accounted for the highest market share in 2021. The growing demand for AI technology and video analysis in sports, with increasing investments in the latest technologies by companies such as the Major League Baseball (MLB), National Football League (NFL), and National Basketball Association (NBA) in the region is anticipated to boost the market in the North American region. The leading organizations in the market, comprising SAP SE, Tableau Software, LLC, and IBM Corporation, are financing highly in research and development to satisfy their client needs and obtain a competitive edge.

Asia Pacific is projected to witness noteworthy growth in the forecast period. The countries, including China, Japan, and India, are expected to experience strong demand owing to their robust building of sports culture. Factors such as the rise in investments in sports, the declaration of numerous sporting leagues, and digitalization are anticipated to play a vital role in market growth.

Europe holds the second-highest market share in the market. The growing need to apply advanced technologies and the increasing number of companies will likely drive market growth in this region. Moreover, the escalating demand for advanced management communication solutions to develop the output of retaining employees and organizations to better identify and evaluate employee work, which would further improve the market growth.

South America, the Middle East & Africa are projected to develop quickly in the forecast period. The increase is attributed to growing government investments in emerging technologies such as 5G, Machine Learning (ML), Artificial Intelligence (AI), cloud, Big Data, and others in Brazil, Israel, and Mexico.

KEY INDUSTRY PLAYERS

Major Companies Highlight on Advanced Sports Analytics to Strengthen Their Positions

The market comprises a vibrant startup system. Over 100 startups are anticipated to develop sports analysis solutions. Such a market is probable to generate strong competition, imposing present organizations to implement and update new developments in product offerings continually. Therefore, improved competition will likely increase the market size and create more opportunities for market participants.

List of the Key Companies Profiled:

• Oracle Corporation (U.S.)


• WHOOP (U.S.)


• SAP SE  (Germany)


• Catapult (Australia)


• IBM Corporation (U.S.)


• SAS Institute Inc. (U.S.)


• Sportradar AG (Switzerland)


• Kitman Labs (Ireland)


• Stats Perform (U.S.)


• Orecco (Ireland)


• Alteryx

KEY INDUSTRY DEVELOPMENTS:

• March 2023 – Alteryx, Inc. launched Alteryx Fanalytics, which showcases how analytics impact decisions in professional sports, from players using data to enhance their game to enthusiasts exploring insights on their favored teams. The company has also partnered with professional sports organizations such as NBA, F1, Premier League, NFL, and the PGA Tour.


• March 2023 – Relo Metrics, a sponsorship analytics platform offering free social media intelligence services to help European soccer clubs capitalize on the momentum of the women’s game.


• March 2023 – Memryx Inc. partnered with Cachengo to provide their modular compute and storage services with AI processors. Their collaboration offers a unique solution for edge-based data-intensive applications that supports various sectors, including sports analytics, retail analytics, and healthcare monitoring.


• March 2022 – nVenue raised USD 3.5 million in seed funding to expand its real-time B2B sports prediction platform to broadcasters and sportsbooks.


• February 2022 – Exasol released Database-as-a-Service (DBaaS) on AWS, allowing users to collect data from several sources, comprising APIs or event data streaming.

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