Rockville , Nov. 13, 2023 (GLOBE NEWSWIRE) -- The global sports analytics market is projected to reach a valuation of US$ 59.47 billion by 2034, expanding at an impressive CAGR of 29% during the forecast period (2024 to 2034). The world of sports is witnessing a digital revolution in an era when data is a critical asset. Sports analytics, a fast-changing segment in the sports business, is providing new opportunities and insights for teams, athletes, and fans alike.
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Fact.MR, a market research and competitive intelligence provider, reveals that the sports analytics market is positioned to change the future of sports, making them more engaging, competitive, and informed, thanks to cutting-edge technology and novel approaches. Data-driven insights are increasingly being used by teams and athletes to improve performance, make informed decisions, and maximize fan engagement. AI, machine learning, and IoT advancements have changed the way sports are evaluated and played.
| Report Attribute | Details |
| Value Projection (2033) | US$ 59.47 Billion |
| Growth Rate (2023-2033) | 29% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 246 Figures |
Key Takeaways from Market Study
- The global sports analytics market is forecasted to maintain a double-digit growth rate, expanding at a CAGR of 29% from 2024 to 2034.
- The market is projected to reach US$ 59.47 billion by the end of 2034.
- North America accounted for 29.1% of the global market share in 2023.
- The market in Asia Pacific is predicted to expand at a CAGR of 24.6% through 2034.
- The services segment is projected to expand significantly over the forecast period at a CAGR of 20%.
- Sports analytics software accounted for 62.2% revenue share in 2023.
“The sports analytics market is in the midst of a remarkable transformation, reshaping the way we perceive and engage with sports, with data-driven insights, technological advancements, and a passion for competition. The world of sports analytics is an exciting space to watch for sports enthusiasts, athletes, and investors alike,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- WHOOP
- Kitman Labs
- Stats Perform
- Orecco
- Alteryx
- Agile Sports Analytics, LLC
- Catapult Sports
- ChyronHego Corporation
- Deltatre
- Experfy Inc.
- Genius Sports Group
- IBM Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Sportradar AG
- Genius Sports Group
Real-Time Data, Instant Replay Analysis, Augmented Reality Graphics, and Interactive Experiences Enriching Viewer Experience
In an era when fans expect more than just a passive viewing experience, broadcasters are increasingly embracing sports analytics to increase viewer engagement and immersion. The incorporation of data-driven insights into broadcasts has revolutionized how audiences are presented with sporting events, resulting in a more fulfilling and informative experience.
Real-time data delivery is a key aspect of broadcast upgrades, offering viewers rapid access to player statistics, performance measurements, and advanced analytics. Broadcasters can immediately provide viewers with precise insights on critical moments such as goals, touchdowns, or slam dunks using sports analytics. These replays dissect the play, providing a more in-depth insight into strategy and execution.
Broadcast upgrades have also increased the graphics and visual components utilized in sports broadcasts dramatically. Interactive experiences are becoming more common in sports broadcasts. Viewers can access extra content such as player profiles, historical data, and even virtual simulations of current games. These interactive features captivate viewers and allow them to connect with the sporting action in a more immersive and customized way. Fans are no longer merely spectators, but active players in the sporting experience.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the sports analytics market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on component (software, services), application (performance analysis, player & team valuation, player fitness & safety, fan engagement, broadcast management), analysis type (on-field, off-field, (team, individual)), deployment mode (on-premise, cloud-based), sports type, solution (video analytics, bio analytics, smart wearable technology), technology (AI, big data), and end user (professional sports teams, sports federations, sports equipment manufacturers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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