The Sports Analytics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sports Analytics Global Market Report 2024, The sports analytics market size has grown exponentially in recent years. It will grow from $1.99 billion in 2023 to $2.51 billion in 2024 at a compound annual growth rate (CAGR) of 26.2%. The growth in the historic period can be attributed to data availability and integration, fan engagement, performance optimization, business operations improvement, globalization of sports.
The sports analytics market size is expected to see exponential growth in the next few years. It will grow to $6.21 billion in 2028 at a compound annual growth rate (CAGR) of 25.4%. The growth in the forecast period can be attributed to personalized fan experiences, increased investment, regulatory compliance. Major trends in the forecast period include advanced player tracking technology, machine learning and predictive analytics, esports analytics, integration of biometrics data.
The increasing demand for monitoring and tracking data of players will propel the growth of the sports analytics market. Monitoring an athlete is increasingly being used by sporting federations and organizations to understand the patterns of behavior, habits, and performance among athletes. Capturing these data allows the coach to evaluate and analyze, which in turn helps them get the best possible performance out of the athlete. Monitoring and tracking are a combination of data collection and analysis (monitoring) to assess to what extent the objectives are met by the player. As the demand for monitoring and tracking data of player increase, there will be a significant need for sports analytics solutions to develop data-driven decisions based on data extracted from monitoring tools and platforms. For instance, in 2021, more than 40 Scottish football and rugby clubs currently use the EDGE system of PlayerData (a UK-based software company) for performance analysis and load management. EDGE GPS is a data collection and monitoring tool that is worn by athletes to capture physical metrics during sports sessions. Thus, the increasing demand for monitoring and tracking data of players is expected to propel the sports analytics market growth.
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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
Major companies operating in the sports analytics market are focused on adoption of integration of AI and ML in sports analytics to strengthen their market position. The integration of AI and ML in the sports analytics market has brought about transformative advancements, enhancing the depth and sophistication of data analysis. For instance, in November 2023, Tech Mahindra, an India-based Information technology company, launches a sports cloud platform built on AWS to provide an immersive fan experience globally, powered by AI, ML, Analytics and AR/VR. the platform, built on AWS, enables real-time data processing, enriched broadcasting, and Web 3.0 experiences. It supports content engagement, customer data management, and metaverse gamification, allowing sports organizations to transform digital properties, generate new revenue streams, and engage fans globally.
The sports analytics market report table of contents includes:
1. Executive Summary
2. Sports Analytics Market Characteristics
3. Sports Analytics Market Trends And Strategies
4. Sports Analytics Market – Macro Economic Scenario
5. Global Sports Analytics Market Size and Growth
…..
32. Global Sports Analytics Market Competitive Benchmarking
33. Global Sports Analytics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sports Analytics Market
35. Sports Analytics Market Future Outlook and Potential Analysis
36. Appendix
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