Pune, July 12, 2024 (GLOBE NEWSWIRE) -- Sports Analytics Market Size & Growth Analysis:
According to SNS Insider Research, The Sports Analytics Market Size is valued at US$ 3.53 Billion in 2023 and is anticipated to surpass US$ 20.48 Billion, with a compound annual growth rate (CAGR) of 22.51% over the forecast period 2024-2032.
The sports wearable devices in the market have increased substantially since there is a significant need for monitoring & tracking player data. As a result, an enormous amount of player and team data is emitted that can be used to understand different aspects like how the performance of a player in terms of heartbeat, speed, and acceleration are influencing his fitness levels.
Additionally, increased awareness of AI and its potential to automatically analyze plays has expanded the sports analytics market further. Many are using AI to enhance the performance of players.
The vast amounts of data to be analyzed are a byproduct, brought on by the growing use of health assessment solutions (from fitness bands & such wearable devices). In addition to this, cheaper & high-performance computing solutions available and an increase in the need for advanced streaming analytics are projected to further propel the growth of the market.
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Major Players Analysis Listed in this Report are:
- Arecont Vision Coaster LLC
- Agile Sports Analytics LLC
- The Sportradar Group
- ChyroHego Corporation
- Genius Sports Group
- International Business Machine (IBM) Corporation
- Experfy, Inc.
- Oracle Corporation
- SAP SE
- Deltatre S.p.A.
- Stats LLC
- Catapult Group International Ltd.
- Other Players
Sports Analytics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 3.53 Billion |
| Market Size by 2032 | US$ 20.48 Billion |
| CAGR | CAGR of 22.51% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers | •The Market for Sports Analytics is Expected to Be Helped by the Rise in Wearable Technology. •Raising Focus on Real-Time Data for Organizing Training Sessions and Realizing Strategic Developments in Games is Propelling Sports Analytics Market Growth. |
Segmentation Dynamics
Football is included among the wide variety of sports in the sports analytics market holding a 22% market share in 2023. Football is one of the most popular sports in the world, worldwide it boasts billions of fans and data. This is how football teams use analytics to evaluate individual and team performance in players. Passes completed, distance covered attacking and defending, shots on target among a ton of other metrics are drawn in to evaluate effectiveness or inefficiency as per requirement.
Tactics, formations, and strategies employed by teams - so on. Analysts give us a peek into what went right or wrong from their end after the match is over. Coaches and analysts can evaluate which strategies are working in matches, or between training seasons using datasets from recent games to critically inform their decisions on whether they use the same game plan against future opposition.
Analytics are Critical to Player Recruitment and Scouting They use various metrics to evaluate player production (goals, assists) and more advanced stats like pass completion rates or in-depth data points, to identify players who would fit well on a team from both a stylistic and skills perspective.
The use of AI in the football-related sports segment has driven many different innovations and practices to enhance data analysis, decision-making processes, and fan engagement. The capacity to manage staggering volumes of structured and unstructured data has materialized additional insights into players, teams, and football as a whole.
AI algorithms in football national clubs of different countries to measure the performance of a player, collect insights, and prepare for strategic games. Although IBM says China will lead the world in investigating and implementing artificial intelligence (AI) this year. This trend was true even when looking only at AI deployments in enterprises headquartered in China, topped by India. When drilling specifically just exploration wells, Canada and the U.S. led as top countries persisted.
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Sports Analytics Market Key Segmentation:
By Component
- Software
- Services
By Analysis Type
- On-Field
- Players & Team Analysis
- Video Analysis
- Health Assessment
- Off-Filed
- Fan Engagement
- Ticket Pricing
By End-Use
- Sports Teams
- Sports Leagues/Associations
- Individual Players/Coaches
- Media Organization
- Sports Betting
- Others
By Sports
- Football
- Cricket
- Baseball
- Basketball
- Rugby
- Others
Regional Analysis
More leagues developed and public as well as private investments in the sport began taking place, especially in Asia-Pacific. As the number of fans and high-profile sporting events continues to grow across a wide range of society every year, most athletes are starting to use electronic devices (IOT) & advanced analytics solutions. they invest in back home anyway competing at their maximum effort against national competitors.
In addition, the growing demand for sports electronics in countries like Australia, India China, and Japan is driving a considerable number of sporting events as well as sports being played which are further expected to augment its adoption.
Numerous teams in the area are joining forces with university studies to produce high-quality analytics-based software from a wide range of sports. It might be of interest that this year in August, IIT Madras partnered with the Inspire Institute of Sports and developed a new data analytics software for boxing to help India win more medals at Olympics 2024.
China has been working to professionalize domestic leagues such as the Chinese Super League and Chinese Basketball Association (CBA) in a bid to qualify for tournaments like the 2022 Winter Olympics. The flip side, of course, is that with international teams and leagues laying down roots in China it likely indirectly impacts the growth of sports analytics as a whole there for years to come.
Regional Coverage
- North America (US, Canada, Mexico)
- Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe])
- Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific)
- Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa])
- Latin America (Brazil, Argentina, Colombia Rest of Latin America)
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Recent Developments
- In January 2024, FanID by Sportradar AG was introduced as a new marketing activation platform in January 2024 that enables clean room data technology to connect rightsholders and brands with personalized delivery. FanID provides brands with access to official sports data, enabling them to promote both their brand and product through rights holders utilizing the rights holder's IP (Intellectual Property).
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Sports Analytics Market Segmentation, By Component
8. Sports Analytics Market Segmentation, By Analysis Type
9. Sports Analytics Market Segmentation, By Sports
10. Sports Analytics Market Segmentation, By End-Use
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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