The Global Sports Analytics Market will account for $8.122 Billion by 2027

As per a Triton Market Research report, the global sports analytics market, which generated $1.435 billion in 2018, is set to register a CAGR of 21.40% by the year 2027.

A recent study by Triton Market Research titled 'Global Sports Analytics Market,' covers the Global Analysis and Forecasts by Component (Solution, Service), by Deployment (On-premise, Cloud), by Sports (Cricket, Basketball, Football, Hockey, American Football, Others), by Application (Video Analysis, Marketing/Sales, Player Analysis & Health Assessment, Fan Engagement, Team Performance & Training, Others), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

Sports analytics software helps sports organizations and professional teams enhance their decision-making abilities, thereby resulting in more data-driven & predictive decisions. Sports analytics offers tools to evaluate the players' fitness levels and assess the team performance. It also provides competitive, social media, and business analysis. The need to extract actionable insights in real-time has led the IT industry to adopt a more business- and IT-aligned approach, which is fueling the growth of the sports analytics market.

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The report estimates the global sports analytics market to chart a CAGR of 21.40% during the period 2019-2027, generating revenues worth $8.122 billion by 2027. This market is primarily being driven by the rising demand for access to real-time data. Moreover, predictive insights offered by sports analytics software using data generated via smartphones & social media are providing fans a better experience. An increase in the volume of data generated on-field has led to the growth in the adoption of the software by various sports organizations. It helps analyze and manage the data generated on-field, thereby resulting in improved performance. However, the lack of understanding related to the use of analytics and sports technology and the large sums required for investment are expected to become the obstacles for market growth.

According to the component segment, the sports analytics market is sub-segmented into solution and service. Whereas, by deployment, it is categorized by on-premise and cloud. The sports segment is further divided according to cricket, basketball, football, hockey, American football, and others. And the application segment is further classified on the basis of video analysis, marketing/sales, player analysis & health assessment, fan engagement, team performance & training, and others.

The market in North America is envisioned to have the largest share globally. This is attributable to the changing market scenario and the higher adoption rates for advanced technology. Besides, cloud-based solutions like sports analytics offer several advantages, such as easy access, rapid scalability, low costs, and uninterrupted service. Sports analytics solutions are primarily adopted by leagues, with basketball and baseball leagues being the largest end-users. Besides, American Football is widely followed all across the globe, making it an influential market. Superclubs consider analytics to be the next frontier in football. Further, the intensified competition, need for better decisions to gain a competitive edge, need to implement advanced strategies, and the rising influence of social media have significantly boosted the adoption of sports analytics software in the region.

Nielsen Sports, Stats Perform, Sportradar AG, Synergy Sports Technology, International Business Machines Corporation, SAP SE, TruMedia Networks, Opta, TABLEAU SOFTWARE LLC, SAS Institute Inc, Oracle, and Catapult Group International Limited are the renowned players in this market.

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Question & Answer: Sports Analytics Market

Question 1: What factors are driving the sports analytics market growth?
Answer: This market is primarily being driven by the rising demand for access to real-time data. Moreover, predictive insights offered by sports analytics software using data generated via smartphones & social media are providing fans a better experience. An increase in the volume of data generated on-field has led to the growth in the adoption of the software by various sports organizations. It helps analyze and manage the data generated on-field, thereby resulting in improved performance.

Question 2: What factors will hamper the sports analytics market growth?
Answer: The lack of understanding related to the use of analytics and sports technology and the large sums required for investment are expected to become the obstacles for market growth.

Question 3: Which region is expected to dominate the sports analytics market?
Answer: The market in North America is envisioned to have the largest share globally. This is attributable to the changing market scenario and the higher adoption rates for advanced technology. Besides, cloud-based solutions like sports analytics offer several advantages, such as easy access, rapid scalability, low costs, and uninterrupted service.

Sports analytics solutions are primarily adopted by leagues, with basketball and baseball leagues being the largest end-users. Besides, American Football is widely followed all across the globe, making it an influential market. Superclubs consider analytics to be the next frontier in football. Further, the intensified competition, need for better decisions to gain a competitive edge, need to implement advanced strategies, and the rising influence of social media have significantly boosted the adoption of sports analytics software in the region.

Question 4: Which companies have been profiled in the report on the sports analytics market?
Answer: Nielsen Sports, Stats Perform, Sportradar AG, Synergy Sports Technology, International Business Machines Corporation, SAP SE, TruMedia Networks, Opta, TABLEAU SOFTWARE LLC, SAS Institute Inc, Oracle, and Catapult Group International Limited are the renowned players in this market.

Related Report:
Global Healthcare Analytics Market

The global healthcare analytics market is set to show revenue growth during the years 2019-2027, generating $41.266 billion by 2027, while showcasing a CAGR of 16.30%.

The upsurge in demand to offer predictive analysis of population health is accelerating the growth of this market. Besides, the implementation of business analytics in healthcare analytics is helping healthcare facilities provide the finest treatments and clinical services.

The increase in digitization has led to the generation of extensive amounts of data. The end-users in the healthcare segment have realized the importance of Big Data to transform this industry. The usage of Big Data analytics in healthcare is helping medical practitioners and administrators make better decisions, and thereby offer enhanced care to patients. This factor is aiding the growth of the healthcare analytics market.

Emerging digital technologies like telehealth, which make use of healthcare analytics, are being developed so as to improve the population health. Telehealth is nothing but a collection of various methods to enhance healthcare, health education, and public health by using telecommunication technologies to offer virtual medical, healthcare, and education services.

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