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Global Sports Analytics Market Size, Share and Global Outlook 2022-2030

09-26-2022 11:47 AM CET | Sports

Press release from: Inkwood Research

SPORTS ANALYTICS MARKET

SPORTS ANALYTICS MARKET

According to a new market research report published by Inkwood Research, the Global Sports Analytics Market is estimated to record a CAGR of 21.51% during the forecasting years of 2020-2028.
"Browse 51 Market Data Tables and 51 Figures spread over 172 Pages, along with an in-depth TOC on the Global Sports Analytics Market Forecast 2020-2028."

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Sports analytics refers to the analysis of the team data and identifying the correlation and patterns, which will further aid in improving the decision-making process. Thus, it helps sports organizations in achieving better results. There are several benefits associated with sports analytics software like higher accuracy, aid in the making of next level wearable devices, and real-time data availability of players. The increase in the adoption of sports analytics is credited to the expansion and shift toward a more IT- and business-oriented approach.

Increasing On-Field Data Propels Market Growth
There is a surge in the data volume generated on-field among sports organizations. This has led to the increased adoption of sports analytics. Several sports organizations have adopted sports analytics solutions, which have aided them in analyzing a large volume of data and providing accurate results. Also, the increasing demand for improvising team performance further drives the market growth. There is an increase in demand by the team managers for enhancing the winning percentage and cost reduction in terms of pay to the players. This can be made possible through the adoption of sports analytics solutions. In football, the solutions help in suggesting tactics as per the team's current situation and the game's dynamics.
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Marketing/ Sales - The dominant category of the Application Segment
Marketing/sales involve creating and managing tickets, along with the tracking of its details ad further updates. It also includes sales functions like advertising, marketing, and post & pre-sales, promotion of team and players, etc. It plays a pivotal role in the success of an event. The integration of marketing and media aids in promoting events for a wide range of audiences, which helps in garnering maximum brand awareness. A strong combination of sports and business aids in delivering valuable and corporate hospitality programs at events. It also includes various functions like promotion of team and players, marketing, advertising, all of which are profitable for organizations. Also, several organizations are bridging the gap between online and offline media by tracking the involvement of people visiting the stadium.

Europe Dominates the Market with 33.75% Revenue Share
Europe is evaluated to be the largest market in terms of revenue share. The trend is estimated to continue until the end of the forecast period. The presence of key players that offer their services & solutions is one of the factors contributing to the revenue share of the European region. The increasing adoption of sports analytics solutions in several sports academies and associations for the betterment of players and augmenting the revenue of the sports organizations are increasing the market growth in the region. Moreover, the increasing trend of adopting sports analytics and the financial capacities of different sports organizations is leading to several growth opportunities for market growth.
Some of the leading companies in the market are SAS Institute Inc, Opta Sports, SAP SE, Oracle Corporation, IBM Corporation, etc. The market is evaluated to be beneficial in terms of providing significant growth opportunities for new entrants.

Related Report:
GLOBAL BIG DATA MARKET
GLOBAL INTERNET OF THINGS (IOT) INTEGRATION MARKET
GLOBAL GAMING MARKET
GLOBAL MACHINE LEARNING MARKET
GLOBAL ARTIFICIAL INTELLIGENCE MARKET

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