PUBLISHER: The Business Research Company | PRODUCT CODE: 1436708
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436708
Sports analytics platforms use mathematical and statistical principles to offer data-driven insights into sports activities. This method enables the collection and analysis of data metrics such as hit rates or fumbles, enhancing comprehensive sports analysis.
Sports analytics encompasses both solutions and services. These analytics solutions constitute software and platforms tailored for sports analytics, deployed across on-premises and cloud interfaces, incorporating software, hardware components, and related elements. This technology is utilized across diverse sports domains such as football, cricket, hockey, basketball, American football, and others. Its applications range from player analysis, team performance evaluation, health assessment, to video analysis, among various others.
The sports analytics market research report is one of a series of new reports from The Business Research Company that provides sports analytics market statistics, including sports analytics industry global market size, regional shares, competitors with a sports analytics market share, detailed sports analytics market segments, market trends and opportunities, and any further data you may need to thrive in the sports analytics industry. This sports analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sports analytics market size has grown exponentially in recent years. It will grow from $1.99 billion in 2023 to $2.51 billion in 2024 at a compound annual growth rate (CAGR) of 26.2%. The growth observed in the historical period can be attributed to several factors, including increased availability and integration of data, heightened fan engagement initiatives, efforts towards performance optimization, improvements in overall business operations within the sports industry, and the global expansion and globalization of sports.
The sports analytics market size is expected to see exponential growth in the next few years. It will grow to $6.21 billion in 2028 at a compound annual growth rate (CAGR) of 25.4%. Anticipated growth in the upcoming period is expected to be driven by personalized fan experiences, augmented investment in sports, and a focus on regulatory compliance. Key trends projected for the forecast period encompass the utilization of advanced player tracking technology, the integration of machine learning and predictive analytics, the emergence of esports analytics, and the incorporation of biometric data within sports analytics.
The sports analytics market foresees growth due to the rising demand for player data monitoring and tracking. Sporting organizations increasingly rely on data-driven insights to comprehend athlete behavior, habits, and performance patterns. The heightened demand for monitoring and tracking necessitates sophisticated analytics solutions. For instance, over 40 Scottish football and rugby clubs employ PlayerData's EDGE system for performance analysis and load management. The EDGE GPS system collects and monitors athletes' physical metrics during training sessions. Therefore, the escalating demand for player data monitoring fuels the sports analytics market's advancement.
The sports analytics market anticipates growth due to the rising popularity of fantasy sports. Fantasy sports involve creating virtual teams using real professional athletes, and sports analytics provide essential data for informed decisions and enhanced gaming experiences. In 2022, 81% of fantasy sports players also engaged in sports betting, showing a notable increase from previous years. Additionally, 68% of sports bettors participated in fantasy sports. Therefore, the burgeoning trend of fantasy sports is expected to fuel the growth of the sports analytics market.
Major firms are dedicated to pioneering innovative technologies such as analytics platforms and software, leveraging AI and machine learning for complex tasks in athlete performance monitoring. Notably, in April 2023, Dentsu Inc., a Japan-based public relations company, unveiled a sports analytics division led by Glenn Lovett. This division integrates MKTG Sports + Entertainment, Sponsorship Research International (SRi), Merkle, and dentsu's extensive data and media analytics capabilities. The integrated approach aims to revolutionize partnership analysis by harnessing a vast dataset of over 11,000 attributes for 268 million people in the US alone.
A significant move in this direction occurred in November 2023 when Tech Mahindra introduced a sports cloud platform powered by AI, ML, Analytics, and AR/VR on AWS. This platform facilitates real-time data processing, enriched broadcasting, Web 3.0 experiences, content engagement, customer data management, and metaverse gamification, enabling sports organizations to redefine digital properties and engage global fans.
In August 2021, Inc & Co, a UK-based digital collective company acquired Insight Analysis for an undisclosed amount. The acquisition adds to the company's growing network of sports services and strengthens its portfolio of services while adding additional customers. Insight Analysis is a UK-based sports analytics company offering data analysis for football, rugby, tennis, and athletics.
Major companies operating in the sports analytics market report are IBM Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Zebra Technologies Corp., Sports Team Analysis and Tracking Systems, SAS Institute Inc., Tableau Software Inc., ExlService Holdings Inc., Stats LLC, Sportradar AG, Dataart Solutions Inc., Genius Sports Group Ltd., HCL Technologies Ltd., Catapult Group International Limited, WSC Sports Technologies Ltd., Opta Sports Data Ltd., The Chyron Corporation, Kinexon GmbH, Exasol AG, Synergy Sports, TruMedia Networks Inc., ShotTracker Inc., Spalk Co., Sportingmindz Technology Pvt. Ltd., Orreco Ltd., Second Spectrum, Quant4Sport, Deltatre SpA, Agile Sports Technologies Inc., Perform Group, Sportlogiq Inc.
North America was the largest region in the sports analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sports analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sports analytics market includes revenues earned by entities by providing services such as data management, predictive models, and information systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sports Analytics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sports analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sports analytics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sports analytics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.