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Sports Analytics Market Shows Huge Growth with 22.9% CAGR, Reaching $12.25 Billion by 2030

10-26-2022 01:42 PM CET | Sports

Press release from: Strategic Market Research

Sports Analytics Market Shows Huge Growth with 22.9% CAGR,

The global sports analytics market worth in 2021 was $2.58 billion, and by 2030 it will be worth $12.25 billion, growing at a 22.9% CAGR during 2021-2030. Sports analytics studies sports statistics, which includes player performance, business operations, and recruitment. Individuals and teams competing in a competition and sports enterprises can benefit from the data. The application of mathematical and statistical rules to sports is known as sports analytics.

Sports Analytics Market Insights:
• In 2021, the software segment held a significant position with a revenue share of 58% on the basis of components.
• On the basis of sports, the football segment will grow at the fastest CAGR of 29% during the projected period.
• In 2021, North America ruled the overall sports analytics market with a revenue share of 28%.

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Sports Analytics Market Dynamics
Factor stimulating the growth of the sports analytics market is the increased adoption of cloud-based deployment options. Cloud solutions enable enterprises to change much more quickly than the on-premises model while cutting total costs. Large enterprises and small and medium-sized businesses (SMEs) adopt software as a service-based solution (SaaS). Another major driver driving the growth of the worldwide sports analytics market is the increase in wearable device usage, propelled by various technological breakthroughs in the global and sports analytics sector.

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Sports Analytics Market: A thorough Segmentation Analysis
The worldwide Sports Analytics Market segmentation has been performed on the basis of Component, sports, and region.

By Component:
• Service
• Software

By Sorts:
• Basketball
• Football
• Rugby
• Baseball
• Cricket
• Others

By Region
North America
• Mexico
• Canada
• United States

Europe
• United Kingdom
• France
• Italy
• Germany
• Switzerland
• Rest of Europe

Asia Pacific
• Japan
• India
• China
• Rest of Asia Pacific

LAMEA
• Saudi Arabia
• Brazil
• South Africa
• Israel
• Rest of LAMEA

On the basis of sports, the football segment will grow at the fastest CAGR of 29% during the projected period. The rise of the category throughout the forecast period is due to football's rising popularity in European nations like the U.K., Germany, and Spain. Data analytics software is used by Europe's top football leagues, including the Premier League, UEFA Champions Leagues, and Bundesliga, to determine player lineups and strategies.

In 2021, North America ruled the overall sports analytics market with a revenue share of 28%. The growing demand for video analysis and AI technology in sports, as well as increased investments in cutting-edge technology by, and National Basketball Association in the region, will help organizations such as the National Football League, and Major League Baseball boost the market in the North American region.

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Key Players in Sports Analytics Market
• SAS Institute Inc.
• Stats Perform
• Agile Sports Analytics, LLC
• SAP SE
• Oracle Corporation
• Sportradar AG
• Daltatre
• Genius Sports Group
• IBM Corporation
• Experfy Inc.
• ChyronHego Corporation
• Catapult

The market for sports analytics will grow at a CAGR of 22.9% during the anticipated time frame. The growing investments in sports technology for data-driven decisions and the need to boost player/team performance are the key drivers of the demand for sports analytics.

To Know More Visit: https://www.strategicmarketresearch.com/market-report/sports-analytics-market

Contact Us:
Strategic Market Research LLP.
Sunil Kumar
India: +91-8260836500
Email: info@strategicmarketresearch.com
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