Press release
Sports Analytics Market reached USD 2,300 million in 2020 and will grow at 22% CAGR till 2028 | Share, Size & Forecast
Sports Analytics Market
The Sports Analytics Market was estimated around USD 2,300 million in 2020 and is expected to grow at a CAGR of 22% over the forecast period (2021-2028).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/sports-analytics-market-analysis-industry-research/
The factors driving the growth of Sports Analytics Market includes increasing internet penetration rates around the world, revenue generation model of sports analytics, growing adoption of wearable to measure the performance of athletes and improvements in the living standards. According to the report published by Statista, the internet penetration rates across Asia-Pacific region has increased from 30.4% in 2013 to 61% in 2021, which is expected to accelerate the Global Sports Analytics Market in the approaching years. Moreover, integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), Big Data Analytics and Machine Learning (ML) with sports analytics software, commercialization of sporting tournaments, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Sports Analytics Market size. In addition, the increasing investments by leading companies on research and development, strategic mergers, and alliances between key industry players, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Sports Analytics Market is hindered due to insufficient knowledge about the benefits of sports analytics software.
The major players operating in the market are SAS Institute Inc., Deltatre, Experfy Inc., Genius Sports Group, Agile Sports Analytics, LLC, Catapult, ChyronHego Corporation, IBM Corporation, Oracle Corporation and SAP SE, among others.
Based on Component, the Software segment is predicted to grow at a robust CAGR during the forecast period
Sports analytics software provides re/post-game analysis, real-time predictive analysis, and data visualization and is increasingly used in advertisement campaigns, are some of the factors responsible for the segment's growth.
Based on Sports, the Football segment is projected to expand at a significant CAGR over the forecast period
Sports analytics provides valuable insights about player's performance and passing trends and rise in the number of football tournaments such as UEFA Champions Leagues, and Bundesliga, are some of the factors propelling segment's growth.
Based on Region, the European region is anticipated to grow at a remarkable CAGR during the forecast period
Rise in the number of sporting leagues across United Kingdom, France and Spain, technological advancements in sports analytics software, rapid industrialization, increasing per population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in European region.
Key Development
In 2020, Sportsradar AG partnered with Badminton Europe, for organizing tournaments which has helped the sports analytics market, in the fixture of the leagues.
Market Segmentation
Segmentation by Component
Service
Software
Segmentation by Type
On-field
Off-field
Segmentation by Sports
Football
Cricket
Baseball
Basketball
Rugby
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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