Sports Analytics Market to Reach $6.37 Bn, Globally, by 2026 at 40.4% CAGR: Allied Market Research

Rise in demand for real-time data access, increase in amount of on-field data, and surge in demand for predictive insights into fan preferences boost the growth of the global sports analytics market

Portland, OR – Dec. 12, 2019 (PRNewswire) Allied Market Research published a report, titled, “Sports Analytics Market by Component (Solution and Services), Deployment Mode (On-Premise and Cloud), Application (Marketing/Sales, Video Analysis, Fan Engagement, Team Performance & Training Sports, Player Analysis & Health Assessment, and Other): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global sports analytics market generated $425.76 million in 2018, and is estimated to reach $6.37 billion by 2026, registering a CAGR of 40.40% from 2019 to 2026.

Prime determinants of growth

Growing demand for real-time data access, rise in amount of on-field data, and surge in demand for predictive insights into fan preferences drive the growth of the global sports analytics market. However, high maintenance and investment costs and lack of awareness about technology in sports hinder the market growth. On the other hand, availability of cost-effective and high-end computing solutions and rise in demands of analytics for complex data streaming create new opportunities in the market.

The solution segment to maintain its leadership position throughout the forecast period

Based on component, the solution segment held the largest market share in 2018, accounting for nearly three-fourths of the global sports analytics market, and is estimated to maintain its leadership position throughout the forecast period. This is due to automation solutions are cheaper than solutions and are faster to deploy. However, the service segment is expected to register the fastest CAGR of 42.7% from 2019 to 2026. This is attributed to rise in need of various different services such as managed service and professional services.

The on-premise segment to maintain its highest share by 2026

Based on deployment, the on-premise segment contributed to the highest market share in 2018, contributing more than half of the global sports analytics market, and is estimated to maintain its highest share in terms of revenue by 2026. This is attributed to the increase in the adoption of these systems due to enhanced security features provided by the on-premise model. However, the cloud segment is expected to grow at the fastest CAGR of 42.6% during the forecast period. This is due to the different services provided by the cloud.

Europe to maintain its dominant position during the forecast period, North America to follow

Based on region, Europe held the major market share, contributing to nearly one-third of the total share of the global sports analytics market in 2018, and is estimated to maintain its dominant position during the forecast period. The region is expected to adopt sports analytics at a high rate to bring great improvements in players performance and the team performance. However, the Asia-Pacific region is estimated to grow at a CAGR of 42.7% from 2019 to 2026. This is due to the increase in sports organizations and emerging new clubs in the region. Moreover, North America contributed to the second-largest share in terms of revenue.

Market players grabbing the highest share

  • Opta Sports
  • Trumedia Networks
  • Sportradar AG
  • IBM Corporation
  • Oracle Corporation
  • SAP SE
  • Stats Perform
  • Nielson Sports
  • Tableau Software
  • SAS Institute

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Global Sports Analytics Market by Sport and Region – Growth, Trends and Forecast (2018-2023)

Dublin, Ireland – January 02, 2019 (BUSINESS WIRE) The “Global Sports Analytics Market – Segmented by Sport (Football, Cricket, Hockey, Basketball, American Football), and Region – Growth, Trends and Forecast (2018 – 2023)” report has been added to ResearchAndMarkets.com’s offering.

The Sports Analytics Market was valued at USD 0.38 billion in 2017, and is expected to reach USD 2.09 billion by 2022, registering a CAGR of 30.13% over the forecast period of 2018-2023.

With the expansion and the shift in the sports industry toward a more business- and IT-oriented approach, the adoption of sports analytics has increased.

Sports analytics offer tools to assess player fitness and team performance, competitive analysis, and business and social-media analytics.

It has led to the development of sophisticated structures for crunching numbers to predict results, win-loss records, and opponent history, to determine the outcome of a future sporting event.

Although the adoption of sport analytics tools has been fairly moderate in some regions, growing user awareness about the competitive advantage provided by these systems is expected to drive market growth over and beyond the forecast period. A case in point is the use of SlamTracker by every major tennis grand slam tournament to provide the players’ insight to its fan base.

However, the high upfront costs required for employing the sports analytics systems is the major factor hindering the growth of the market. This factor is observed to have a greater impact on sports or teams with less revenue, creating a challenge for the sports analytics market, with regard to its incorporation in small-scale or regional teams and associations.

Key Highlights

North America to Account for a Lion’s Share of the Market
Football Expected to Be one of the Prominent Users of Sports Analytics Solutions

Topics Covered

1. Introduction

2. Research Approach and Methodology

3. Executive Summary

4. Market Insights

5. Market Dynamics

6. Technology Snapshot

7. Segmentation By Sports

8. Segmentation By Geography

9. Competitive Intelligence

10. Investment Analysis

11. Future of the Market

Companies Profiled

  • IBM Corporation/li>
  • SAP SE/li>
  • SAS Institute Inc./li>
  • Opta Sports/li>
  • Trumedia Networks/li>
  • Oracle Corporation/li>
  • Tableau Software Inc./li>
  • Stats LLC/li>
  • Catapult Group International Ltd./li>
  • Sportsradar AG

For more information about this report visit https://www.researchandmarkets.com/research/kdpw4b/global_sports?w=4

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