Pune, India, June 01, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global sports analytics market size was valued at USD 2.98 billion in 2022 and is projected to grow from USD 3.78 billion in 2023 to USD 22.13 billion by 2030, exhibiting a CAGR of 28.7% during the forecast period. Surging Demand for Structured and Visualized Data to Bolster Industry Growth. Fortune Business Insights, provide this information in its report titled, Global Sports Analytics Market Forecast, 2023-2030.
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Key Industry Development
March 2023: Alteryx, Inc. launched Alteryx Fanalytics, which showcases how analytics impact decisions in professional sports, from players using data to enhance their game to enthusiasts exploring insights on their favored teams. The company has also partnered with professional sports organizations such as NBA, F1, Premier League, NFL, and the PGA Tour.
Key Takeaways
- Sports analytics market size in North America was USD 1.17 Billion in 2022
- The market will expand due to changing sporting dynamics. Besides, expanding applications of AI and machine learning will augur well for the business outlook.
- Furthermore, the government has upped investments in emerging technologies such as 5G, cloud, Big Data.
- Rising Utility of AI-based Software Propelled Market Growth
Discover the Leading Players Featured in the Report:
“Companies leading the global sports analytics market are Oracle Corporation (U.S.), WHOOP (U.S.), SAP SE (Germany), Catapult (Australia), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Sportradar AG (Switzerland), Kitman Labs (Ireland), Stats Perform (U.S.), Orecco (Ireland)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 28.7% |
| 2030 Value Projection | USD 22.13 Billion |
| Base Year | 2022 |
| Sports Analytics Market Size in 2022 | USD 2.98 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Deployment, Type, Solution, Technology, End-user and Geography |
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Drivers and Restraints
Penetration of AI in Sports Industry to Provide Promising Growth Potentials
The usage of innovative technologies, such as IoT, cloud, and analytics, mobility, social media, and Big Data has led to transformation and innovation, giving firms an edge in the competitive marketplace. Furthermore, due to the emergence of technologies such as Artificial Intelligence, Big Data, and Machine Learning (ML), the global sports analytics market have seen a great spike.
However, factors such as low technology penetration and stringent political factors could dent the sports analytics market growth over the next few years.
Segmentation:
By Deployment
- Cloud
- On-premise
By Type
- On-field
- Off-field
By Solution
- Video Analytics
- Bio Analytics
- Smart Wearable Technology
- Others (Synchronized Multi-Angle Replay Technology (SMART), etc.)
By Technology
- AI
- Big Data
- Others (Real Time Monitoring System, etc.)
By End-user
- Team
- Individual
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights
Increasing Investments in the Latest Technologies in the North America to Boost Market Share
North America is set to dominate the market position in the global sports analytics market share. The U.S. is poised to provide lucrative growth opportunities due to increasing investments in the latest technologies by companies such as the National Football League (NFL), National Basketball Association (NBA), and Major League Baseball (MLB). The material has become sought-after amidst surging demand for durable, cost-efficient and lightweight components. Moreover, manufacturers have shifted their attention toward AI technology and video analysis in sports to harness unique attributes, auguring well for regional growth.
Asia Pacific has emerged as a happy hunting ground due to the robust building of sports culture. Furthermore, the declaration of numerous sporting leagues, digitalization, and rise in investments in sports have exhibited a stellar demand for the product.
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Competitive Landscape
Industry Participants to Inject Funds to Develop Sports Analysis Solutions
The competitive scenario of the global market suggests leading companies could emphasize mergers & acquisitions, technological advancements, and product launches. Major companies highlight on advanced sports analytics to strengthen their positions.
FAQs
How big is the sports analytics market?
Sports analytics market size was USD 2.98 billion in 2022. It is expected to reach USD 22.13 billion by 2030.
How fast is the sports analytics market growing?
The sports analytics market will exhibit a CAGR of 28.7% during the forecast period, 2023-2030.
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