Sports Analytics Market Driven By Demand Surge to Grow Exceptionally
Global Sports Analytics Market is expected to register a CAGR of 30.5% during the review period, 2019–2025.
Sports analytics is rapidly becoming an integral part of most global sporting events, with leading sports federations such as UEFA and NFL and organizations such as MLB and Manchester United using sports analytics solutions to enhance constructive engagement with their prospective sponsors and expand their fan base. Sports analytics is used by managers and support staff to make constructive decisions in order to enhance the overall performance of teams. Sports analytics, by using predictive models, can predict the success rate of the team or players and seasons with the highest tickets sold, along with aspects for enhancing the fan experience. Key factors responsible for the growth of the global sports analytics market are the need to improve fans’ experience by leveraging data generated through social media and optimizing revenues through ticket pricing. Further, the availability of cost-effective and high-end computing solutions is expected to fuel growth and create new opportunities in the global sports analytics market. However, the lack of awareness about technology in sports is expected to hinder the market growth.
The Global Sports Analytics Market is characterized by the presence of several regional and local providers. Some of the key players in the market are Experfy Projects, Oracle, IBM Corporation, Sportradar AG, Tableau Software, Deltatre, Hudl, SAP SE, SAS Institute Inc., Opta Sports, Trumedia Networks, Salesforce.com Inc., Stats LLC, Catapult Group International Ltd, and Accenture among others.
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The Global Sports Analytics Market has been segmented based on sport, type, component, deployment mode, application, and region.
By sport, the market has been segmented into football, cricket, baseball, basketball, rugby, and others. Among all the various sports, football accounts for the largest share in the sports analytics market owed to the increased attendance for football leagues, such as UEFA Champions League, MLS, EPL, and ISL.
By type, the market has been segmented into on-field and off-field. The on-field segment dominated the market in 2018 and is expected to advance at a higher pace over the forecast period. The higher growth of this segment is attributed to the increasing use of analytical solutions in outdoor games such as football, cricket, rugby, hockey, and swimming. The use of analytical tools in sports generates a huge amount of data related to the player’s performance and fitness. Sportsperson and coaches use this data to determine the in-game strategies thereby increasing the chances of winning the game.
By component, the market has been segmented into solutions and services. The solutions segment is expected to dominate the global sports analytics market over the forecast period. The growth is attributed to the increased adoption of sports analytics software solutions that can be largely credited to the growing preference for cloud-based software solutions.. Also, the advent of cloud-based solutions offering easy accessibility coupled with the proliferation of smartphones and other smart devices has led to increased use of data analytics, aiding the growth of the solutions segment.
By deployment model, the market has been segmented into on-premise and cloud. The cloud-based deployment mode is expected to grow significantly during the forecast period owing to the growing consumer preference for cloud-based software solutions.
By application, the market has been segmented into the player analysis, team performance analysis, video analysis, health assessment, data interpretation and analysis, fan engagement and digital experience analysis, and others. The player analysis and team performance analysis application segments are estimated to exhibit the highest adoption rate during the forecast period. On the other hand, the fan engagement segment is expected to create potential market opportunities and is expected to register the highest CAGR.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
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