Global Sports Analytics Market Size, Share, Growth Analysis, By Deployment(Cloud, On-premise), By Type(On Field, Off Field), By Solution(Video Analytics, BioAnalytics), By Technology(AI, Big Data), By End-Use(Individual, Teams), By Sport(Football, Cricket), By Component(Software, Service) - Industry Forecast 2022-2028

The Global Sports Analytics market is segmented based on Deployment, Type, Solution, Game, End-Use, Game, and Region. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Type, the market is segmented into On Field and Off Field. Based on the Solution, the market is segmented into Video Analytics, BioAnalytics, and Smart Wearable. Based on End-Use, the market is segmented into individuals, Teams, and e-Sports. Based on Game, the market is segmented into Football, Cricket, Basketball, Baseball, and Others. Based on Component, the market is segmented into Software and Service. Based on region the global Sports Analytics market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Components

With a market share of more than 56.5% in 2021, the software segment dominated the market. Data for sports analysis is generated by a variety of software applications, including real-time predictive analysis, motion/video analysis, and data visualization, including pre/post-game analysis. Marketers provide customized sports advanced analytics based on the software's intended use for both individuals and teams. Big Data analytics, Augmented Reality/Virtual Reality (AR/VR), biometrics, 2D/3D imaging, and video-based sensing have all contributed to the software industry's transformation. These innovations are now used effectively in video analysis tools, player tracking systems, and motion software applications.

Management teams also use application software to enhance the efficiency of their advertising and marketing campaigns. For instance, The Texas Rangers, an American professional Baseball, and other teams use Tableau Software, LLC's sports management software, which provides a complete perspective of all operational processes in one software, which includes real-time merchandise and ticket revenue, marketing events, in-stadium food and beverages sales, and game attendance.

In 2021, North America held more than 28% of global sports analytics market share. The growing demand for live commentary and Artificial intelligence technology in sports, as well as increased investments in cutting-edge technology by members of the National Football League (NFL), Major Baseball, and Others (MLB), and National Collegiate Athletic association (NBA) in the region, are expected to drive the market in the North American region. Tableau Software, LLC, SAP SE, and IBM Corporation are among the market leaders in sports analytics, investing significantly in research and development to ensure that all the requirements and achieve a competitive advantage.

Sports analytics market analysis provides insights that the Asia Pacific region is expected to grow significantly during the forecast period. Countries such as Japan, India, and China are expected to see high demand due to their strong building of sports cultures. The establishment of various sporting league teams, confrontational investments in sports, as well as a digital revolution are expected to play a significant role in market growth.

Driver

• Big Data and Other Similar Technologies are Becoming More Popular

The adoption of cutting-edge technologies such as the cloud, IoT, big data and analytics, agility, and social media has resulted in innovation and transformation, thereby boosting the economy in the business ecosystem. Digital technologies have transformed the traditional business model into a modern one. Because of the increased demand for in-depth knowledge, the adoption of big data and related technologies has accelerated. The exponential increase in data volume is due to the global expansion of businesses, which is driving the increase in data volumes and sources. The accumulation of large amounts of data in a single location has accelerated the evaluation capabilities of machine learning experts in every organization. Enterprises can optimize critical business processes, functions, and objectives by leveraging the challenges and opportunities of big data sports analytics.

• The proliferation of The Internet and Increased Use of Connected and Integrated Technologies

The emergence of the internet and the availability of different ways to access it have resulted in an enormous increase in data volumes generated. As a result, the development and advancement of high-speed internet providers would be aided. Economic development and global growth are also important factors driving increased data generation globally. With the increase in touchpoints and the need for data collection to understand consumer behavior, every consumer touch has evolved into a significant data point that can be produced to reveal user behavior. Because of the exponential growth in individual and organizational data, sports analytics companies are now going to deploy data scientists and analysts to process collected data. Another factor driving adoption is the operating income possibility of sports analytics. This is appealing to companies to invest in sports analytics. The rise of connected and consolidated technologies has created an opportunity for big data analytical market solution vendors to capitalize on the internet's development and unprecedented growth.

Restraint

• Lack Of Awareness of Sports Analytics Solutions' Advantages

The sports industry has historically lagged far behind in adopting new technology, but things have changed over time. To outperform rivals and produce better outcomes, sports authorities are implementing cutting-edge technological solutions. Sports, whether team or individual, have become intensely competitive, with players and coaches spending a lot of money to access infrastructure and facilities. Sports analytics is still a neglected field, but it will become more significant in the coming few years. Enterprises in the regions lag in the adoption of analytics and other technologies because of low technology penetration and strict political constraints, despite growing interest in such innovations to improve performance in North and Europe.

Sports organizations throughout the region continue to rely on traditional analysis methods, such as hiring retired athletes or sportspersons as coaches to train their teams and physiotherapists to assess their players' health. All of these factors contribute to the slow growth of the sports analytics market.

The competition between small and midsized companies is intensifying. Players are focusing on mergers and acquisitions, and partnership opportunities to stabilize and expand their market presence. For instance, Sportradar AG announced a 10-year partnership agreement with the National Hockey League in June 2021. The collaboration has enabled Sportradar AG to distribute NHL official data and statistics to technology companies, sports betting companies, and media outlets. The agreement also grants Sportradar the right to provide live broadcasts of NHL games to sports betting operators in authorized markets via the providers' digital betting platforms.

Top Player's Company Profiles

• Oracle Corporation (US)
• WHOOP (US)
• SAP SE (Germany)
• Catapult (Australia)
• IBM Corporation (US)
• SAS Institute Inc. (US)
• Sportradar AG (Switzerland)
• Kitman Labs (Ireland)
• Stats Perform (US)
• Orecco (Ireland)

Recent Development

• In February 2022, Exasol launched DBaaS on AWS, enabling users to gather and compile data from a variety of sources, including APIs or event data streaming
• In May 2021, Stats Perform introduced PressBox, an all-in-one online platform solution that produces faster results than ever before. It is a platform for increasing subscriptions and increasing revenue through high fan engagement.

• Sports analytics market trends provide insights that the unpredictability of the market and the rapid adoption of new technologies are expanding the application of these solutions globally. The demand for software delivered via the cloud is increasing as businesses concentrate on reducing software updates and maintenance requirements. This is because cloud-based solutions provide advantages like rapid cloud computing, low cost, easily accessible, and unrestricted service. Superclubs are well-known because of their illustrious track record of success, which has fueled their fan base and brand value, drew top athletes from all over the world, and thereby increased sponsorships and investments. These top teams see analytics as the future of football.
• The increasingly competitive nature, the need to establish decision-making to obtain an advantage over competitors, and the influence of social media have boosted analytics' acceptance exponentially. In addition, clubs and teams affiliated with analytics organizations are a significant trend. For instance, several football clubs and leagues have partnered with Opta, a provider of football sports data. Opta's analytics can determine each particular action of an athlete in a particular location on the field, regardless of whether a player owns the ball. The increasingly competitive environment, the need for improved decision-making to gain an advantage over competitors, the need for strategy implementation for tournaments on the field, and the impact of social media off the field are expected to drive analytics adoption. As a result, during the forecast period, the market share for sports analytics is likely to grow due to changing sports dynamics and increasing technology adoption in sports.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global sports analytics market analysis, we found that the use of sport analytics solutions in North America is expanding due to the region's increasing technological adoption rates and shifting market conditions. The demand for software delivered via the cloud is rising as businesses focus on cutting maintenance and upgrade costs. This is because cloud-based solutions have benefits like low cost, quick scalability, easy access, and uninterrupted service.