NEWARK, Del, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The sport analytics market is estimated to be worth US$ 4.0 billion in 2024 and is projected to be valued at US$ 31.4 billion by 2034. Between 2024 and 2034, the industry is expected to register a growth rate of 22.9%.
Advances in AI, machine learning, edge computing, and augmented reality will further enhance data collection, analysis, and interpretation in sports are the main factor driving the demand for sport analytics market during the forecast period.
Greater emphasis on athlete health monitoring, injury prevention, and personalized training programs using data-driven insights boost the growth of the market. Increased adoption of analytics in niche sports and amateur levels, allowing smaller teams and leagues to access advanced analytics tools.
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The rising preference for sport analytics among the coaches as well as the team managers to use the real-time data to construct gaming strategies and to arrange training sessions, the rising adoption of innovative sports technologies to get quantitative information for improving the game performance are expected to fuel the sport analytics market growth .
Increasing investment by sports organizations to adopt a data-driven decision-making strategy, starting from player recruitment to fan engagement, is prevised to augment the demand for sports analytics solutions. Increasing importance of on-field data to analyse team performance, track individual players, monitor injuries, and optimize training curriculum of individual players is expected to drive the demand for sports analytics solutions
Key Takeaways
- From 2019 to 2023, the sport analytics market was valued at a CAGR of 20.9%
- Based on component, the software segment is expected to account for a share of 61.0% in 2024.
- Global sport analytics demand in China is predicted to account for a CAGR of 23.4% during 2024 to 2034.
- In the United States, the sport analytics industry is expected to account for a CAGR of 20.8% through 2034.
- Germany is projected to expand by a value CAGR of 22.4% between 2023 and 2034.
- Sport analytics market in Japan is anticipated to record a CAGR of 24.1% in 2024.
“The increasing spending capacity and growing need for better viewing experience are anticipated to drive the market growth during the forecast period.” opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.
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Competitive Landscape
Leading sports analytics market players continuously focus on enhancing existing solutions and product innovations to strengthen their product portfolios. Besides this, they are adopting strategies such as partnerships, collaborations, and mergers to expand their global footprint. Some of the developments from the market are given below
- SAP's Sports One solution is designed specifically for sports organizations, offering tools for athlete performance analysis, scouting, team management, and fan engagement. It provides real-time insights for coaches and analysts to enhance team performance.
- Catapult specializes in wearable technology for athletes, providing performance monitoring through devices that track movement, load, and biometric data. Their analytics platform helps teams make data-driven decisions to improve player health and performance.
Restraints:
Despite the market's promising growth, challenges persist, including data security concerns, high implementation costs, and the need for skilled professionals adept in handling complex analytics tools.
Key Companies Profiled
- Agile Sports Analytics LLC
- Catapult Sports
- ChyronHego Corporation
- Deltatre
- Genius Sports Group
- IBM Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Sportsradar AG
- Stats Perform
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Sports Analytics Market Key Segments
By Component:
- Software
- Service
By Analysis Type:
- On-field
- Player & Team Analysis
- Video Analysis
- Health Assessment
- Off-field
- Fan Engagement
- Ticket Pricing
By Sports:
- Football
- Cricket
- Baseball
- Basketball
- Rugby
- Others
By End User:
- Sports Teams
- Sports Leagues/Associations
- Individual Players/Coaches
- Media Organizations
- Sports Betting
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflecting his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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