Sports Analytics Market Pegged For Strong Growth During 2021-2028: Grand View Research Inc.
Sports Analytics Market Growth & Trends
The global sports analytics market size is expected to reach USD 3.44 billion by 2028, registering a CAGR of 21.3% from 2021 to 2028, according to a new report by Grand View Research, Inc. The growing preference for data-driven decision-making among various teams and associations is expected to drive the growth of the market. Sports analytics can potentially help coaches and team managers in obtaining in-depth insights about various parameters and the performance of players and in designing effective training sessions based on those insights. Monitoring of physical parameters can also be coupled with predictive analysis to help in preventing injuries that may happen in the future.
The sports industry generates large volumes of data. However, most of this data is raw data, which is unable to provide any clear insights. Nevertheless, if the data is used effectively, it can potentially provide deeper insights into the performance of individual players as well as the entire team. Analytical tools can help analyze this raw data and provide meaningful insights in real-time using interactive graphical interfaces.
Analytical tools can typically help in analyzing first-hand data, such as win and loss records, players’ line-up, opponents’ history, and players’ various metrics, including speed, distance covered, acceleration, stamina, and energy levels. The insights obtained from the analysis of these parameters can be potentially used to make informed decisions and enhance the performance of individual players as well as the entire team. The insights can also be shared with fans, enthusiasts, and other followers on various platforms, including social media.
Prominent teams and associations have already started implementing sports analytics solutions and hiring dedicated analysts as part of the efforts to enhance the performance of individual players as well as the entire team, gain a competitive advantage both on and off the field, and outperform the opponents. Associations such as the German Football Association, Royal Spanish Football Federation, and National Basketball Association (NBA), among others, have also implemented analytical tools to predict the outcomes of future game events.
Teams are typically adopting analytics solutions to stay at the top of the game in terms of overall performance, players’ fitness, and engagement with fans. For instance, Spanish football/soccer team Real Madrid has partnered with Microsoft Corp. to use state-of-the-art technology in analyzing the team’s performance and players’ fitness. Similarly, English football team Manchester United is relying on Aon plc as a trusted advisor in sports analytics.
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Sports Analytics Market Report Highlights
- The software segment is expected to register a strong CAGR over the forecast period owing to the rising demand for cloud-based sports analytics software that offers ease of accessibility and flexibility
- The on-field segment is expected to exhibit the highest CAGR over the forecast period in line with the growing preference for wearable player tracking devices
- Football is anticipated to exhibit the highest CAGR over the forecast period in line with the aggressive investments by various football clubs and teams are making in adopting the latest technologies
- Asia Pacific is expected to exhibit strong growth with China and Japan particularly contributing to the growth of the regional market
Access Press Release@ https://www.grandviewresearch.com/press-release/global-sports-analytics-market
Sports Analytics Market Segmentation
Grand View Research has segmented the global sports analytics market based on component, analysis type, sports, and region:
Sports Analytics Component Outlook (Revenue, USD Million, 2017 – 2028)
Sports Analytics Analysis Type Outlook (Revenue, USD Million, 2017 – 2028)
- Player & Team Analysis
- Video Analysis
- Health Assessment
- Fan Engagement
- Ticket Pricing
Sports Analytics Sports Outlook (Revenue, USD Million, 2017 – 2028)
Sports Analytics Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
List of Key Players in the Sports Analytics Market
- Agile Sports Analytics, LLC
- ChyronHego Corporation
- Experfy Inc.
- Genius Sports Group
- IBM Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Sportradar AG
- Stats Perform
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.