What are the Historical Developments and Current Growth Metrics of the Sports Analytics Market?
The sports analytics market has seen considerable growth due to a variety of factors.
• In recent times, there has been an immense escalation in the size of the sports analytics market. It is projected to expand from a worth of $2.46 billion in 2024 to $3.08 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 25.0%.
Factors responsible for the marked growth in the preceding period include the accessibility and consolidation of data, enhancement of fan involvement, optimization of performance, augmentation of business operations, and the international proliferation of sports.
What Is The Projected Growth And Market Size For The Sports Analytics
The sports analytics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for sports analytics is predicted to expand rapidly in the coming years, reaching a value of $7.87 billion in 2029 with a compound annual growth rate (CAGR) of 26.5%.
This projected increase during the forecast period is credited to factors such as custom fan experiences, augmented investment, and regulatory compliance. The forecast period is also expected to witness key trends like advanced player tracking technology, the application of machine learning and predictive analytics, esports analytics, and the incorporation of biometrics data.
What Are The Core Factors Supporting Growth In Sports Analytics Market?
The escalating need for the surveillance and recording of player data is anticipated to stimulate the expansion of the sports analytics market. Sports federations and organizations are increasingly employing the practice of athlete monitoring to discern behavioral patterns, habits, and performance. Gathering this information permits the coach to scrutinize and analyze, which subsequently aids in drawing out the athlete's optimal performance. Monitoring and tracking amalgamate data accumulation and analysis to gauge how well the player's objectives have been achieved. As the craving for surveillance and recording of player data intensifies, a considerable demand for sports analytics solutions is expected to generate data-oriented decisions, based on information procured from monitoring tools and platforms. For example, in July 2024, the U.S. Center for SafeSport, a national nonprofit organization based in the U.S., according to their 2023 annual report, indicates the center's largest hurdle is the management of the escalating quantity of reports, having received 7,533 in 2023 - a 32% increment from 2022. This signifies their growing reliance on its resources by people undergoing abuse or misconduct in the realm of sports. Therefore, the escalating need for the surveillance and recording of player data is predicted to drive the sports analytics market's growth.
What Are The Main Segments Of The Global Sports Analytics Market?
The sports analytics market covered in this report is segmented –
1) By Component: Solution, Service
2) By Deployment Mode: On-premise, Cloud
3) By Application: Player Analysis, Team Performance Analysis, Health Assessment, Video Analysis, Other Applications
4) By Sport: Football, Cricket, Hockey, Basketball, American Football, Other Sports
Subsegments:
1) By Solution: Performance Analytics Software, Video Analysis Tools, Player Tracking Systems, Injury Prediction And Prevention Tools, Fan Engagement Analytics
2) By Service: Consulting Services, Data Management Services, Training And Support Services, Implementation Services, Custom Analytics Solutions
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What Emerging Trends Are Influencing The Growth Of The Sports Analytics Market?
Leading businesses in the sports analytics market are concentrating their efforts on introducing novel technologies such as analytics platforms and software to fortify their market status. Advanced technologies like AI and machine learning are employed by these platforms and software to perform intricate tasks relating to athlete performance tracking, case studies, and more. For example, in April 2023, a Japan-based public relations firm, Dentsu Inc., announced the creation of a sports analytics division headed by Glenn Lovett. The division amalgamates the expertise of MKTG Sports + Entertainment, Sponsorship Research International (SRi), Merkle, and Dentsu's extensive data and media analysis capabilities. The comprehensive approach aims to transform partnership assessment, taking advantage of an immense data set encompassing over 11,000 factors for 268 million people, limited to the US.
Who Are the Key Players in the Sports Analytics Market?
Major companies operating in the sports analytics market include:
• IBM Corporation
• Oracle Corporation
• SAP SE
• Salesforce Inc.
• Zebra Technologies Corp
• Sports Team Analysis and Tracking Systems
• SAS Institute Inc.
• Tableau Software Inc.
• ExlService Holdings Inc.
• Stats LLC
• Sportradar AG
• Dataart Solutions Inc.
• Genius Sports Group Ltd.
• HCL Technologies Ltd.
• Catapult Group International Limited
• WSC Sports Technologies Ltd.
• Opta Sports Data Ltd.
• The Chyron Corporation
• Kinexon GmbH
• Exasol AG
• Synergy Sports
• TruMedia Networks Inc.
• ShotTracker Inc.
• Spalk Co
• Sportingmindz Technology Pvt Ltd.
• Orreco Ltd.
• Second Spectrum
• Quant4Sport
• Deltatre SpA
• Agile Sports Technologies Inc.
• Perform Group
• Sportlogiq Inc.
What Is The Most Dominant Region In The Sports Analytics Market?
North America was the largest region in the sports analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
