Sports Analytics Market Outlook 2031
The global sports analytics market size was valued at nearly USD 1.07 Billion by 2022 and is anticipated to reach USD 6.17 Billion by 2031, expanding at a CAGR of 21.5% during 2023 – 2031. Technology advancements in data collection have improved analytics, which has resulted in the expansion of the market.
Sports analytics are a collection of relevant, historical, and statistics that can provide a competitive advantage to a team or an individual. Through the collection and analysis of these data, sports analytics inform players, coaches, and other staff to facilitate decision making during and prior to sporting events.
The term 'sports analytics’ was first popularized by 'Oakland Athletics’ General Manager Billy Beane in 2002 when he heavily focused on the use of analytics to build a competitive team on a minimal budget in the MLB.
The analysis has two key aspects of sports, on-field and off-field analysis. On-field analysis focuses on improving the performance of teams and players.
It deals in aspects such as game tactics and player fitness. Off-field analytics focuses on the business side of sports; it deals in sport organization or body surface patterns and insights through data to increase ticket and merchandise sales and improves fan engagement.
Sports Analytics Market Trends, Drivers, Restraints, and Opportunities
- Advancements in data collection have allowed for sports analytics to grow, thus leading to the development of advanced statistics and machine learning, thus, driving the market.
- Sport specific technologies allow for game simulations to be conducted by teams prior to play. These, in turn, are making sports analytics popular and boosting the market.
- Improving fan acquisition and marketing strategies and rising understanding the impact of sponsorship on each team and its fans are the driving the market.
- Growing investments from sponsor companies to make their team better is a major reasons that help to fuel the market growth.
- Technology advancement such as wide application of Artificial Intelligence (AI) and Machine Learning (ML) for better result of sport analysis is a key factor offering several growth opportunities of the market.
Scope of Sports Analytics Market Report
The report on the global sports analytics market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Sports Analytics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Individual and Team), Applications (Performance Analytics, Player & Team Valuation, Player Fitness & Safety, Fan Engagement, and Broadcast Management), Deployment Model (On-premise and Cloud-based)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IBM Corp., SAP SE, SAS Institute Inc., Oracle Corp., and Salesforce Inc.
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Sports Analytics Market Segment Insights
Performance analytics segment to grow at a substantial CAGR
In terms of applications, the sports analytics market is segmented into performance analytics, player & team valuation, player fitness & safety, fan engagement, and broadcast management.
The performance analytics is estimated to expand at a substantial CAGR during the forecast period due to the increase in fan engagement and emergence of novel technologies such AL, ML, and internet of things (IoT) and rise in the number of investors and sponsors wanting to improve their team and add valuable playing and non-playing members in their team.
Cloud-based segment to hold large share
Based on deployment models, the sports analytics market is bifurcated into on-premise and cloud-based. The cloud-based segment is expected to hold a large share of the sports analytics market during the forecast period.
Most companies in the sports analytics market offer cloud-based solutions to gain maximum profits and automate their equipment maintenance process. The cloud-based deployment model enables clubs and organizations to digitize sports performance by providing secure and sustainable data.
Increase in the demand for structured and visualized data in the market has propelled the demand for cloud-based deployment models. Other advantages of the cloud-based deployment are scalability, cost-effectiveness, privacy, data quality, and data integrity. Rising awareness regarding the same are expected to drive the segment.
Team sports segment to account for large market share
In terms of sport types, the sports analytics market is bifurcated into individual and team sports. The team sports segment is expected to account for large share of the market during the forecast period owing to rising numerous big companies’ sponsoring and investment in team sports and presence of growing fan base.
North America to account for key market share
Based on regions, the global sports analytics market share is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is anticipated to hold a large market share during the forecast period due to the presence of a large number of big companies investing in sports and presence of big sports leagues that bring in revenue.
Segments
Types
- Individual Sports
- Team Sports
Applications
- Performance Analytics
- Player & Team Valuation
- Player Fitness & Safety
- Fan Engagement
- Broadcast Management
Deployment models
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
Competitive Landscape
Key players in the global sports analytics market share are IBM Corp., SAP SE, SAS Institute Inc., Oracle Corp., and Salesforce Inc. These players are constantly engaged in various market development strategies such as mergers & acquisitions, collaborations, agreements, and partnerships to increase their market share.
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