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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.
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.
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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,
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.
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.
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.
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.
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.
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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.
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,
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,
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,
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.
North America Sports Analytics Market Size, 2022 (USD Billion)
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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.
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.
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The report comprises prominent regions globally to understand the industry better. Further, the research offers insights into the most recent industry and market trends and analyzes technologies being implemented. It also highpoints some of the growth-stimulating elements and restrictions, enabling the reader to gain a detailed understanding of the market.
Value (USD billion)
Growth Rate of 28.7% from 2023 to 2030
By Deployment, Type, Solution, Technology, End-user, and Geography
The market is projected to reach USD 22.13 billion by 2030.
In 2022, the market stood at USD 2.98 billion.
The market is projected to grow at a CAGR of 28.7% in the forecast period (2023-2030).
By deployment, the cloud segment is likely to lead the market.
The rising adoption of Big Data analytics is the key factor driving market growth.
The top players are Oracle Corporation, WHOOP, SAP SE, Catapult, IBM Corporation, SAS Institute Inc., Sportradar AG, Kitman Labs, Stats Perform, and Orecco.
North America is expected to hold the highest market share.
By solution, the smart wearable technology segment is expected to grow with the highest CAGR over the forecast period.
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