“Sports Analytics Market“ offer significant and proficient insights into the current market scenario and the emerging growth dynamics. The report on Sports Analytics Market provides the market players as well as the new visitors to show complete view of the market landscape. The comprehensive research will enable the well-established as well as the emerging players to establish their business strategies and achieve their short-term and long-term goals. The report also presents a significant evaluation of the scope of the regions and where the key participants might find potential growth opportunities in future.
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The Sports Analytics Market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered financial information of last 3 years, key development in past five years.
The Sports Analytics Market was valued at USD 0.78 billion in 2019 and is expected to reach USD 3.07 billion by 2024, registering a CAGR of 32.2% over the forecast period of 2019-2024. With the expansion and shift in the sports industry towards a more business and IT-oriented approach, the adoption of sports analytics has increased. Sports analytics offer tools to assess player fitness and team performance, competitive analysis, and business and social media analytics. It has led to the development of sophisticated structures for crunching numbers to predict results, win-loss records, and opponent history to determine the outcome of a future sporting event.
– The adoption of sport analytics tools has been fairly moderate in some regions, growing user awareness about the competitive advantage provided by these systems is expected to drive market growth over and beyond the forecast period. A case in point is the use of SlamTracker by every major tennis grand slam tournament to provide the players insight to its fan base.
– Exponential increase in the volume of social media users has been a major driver for the marketâs growth. According to a research study, about 80% of sports fans use social media sites while watching games and more than 60% do so while watching live events. This leads to the generation of large volumes of data pertaining to sports in particular, which further buoys the need for analytics to mine this data and gain meaningful insight.
– The high upfront costs required for employing the sports analytics systems is the major factor hindering the growth of the market. This factor is observed to have a greater impact on sports or teams with less revenue, creating a challenge for the sports analytics market, with regard to its incorporation in small-scale or regional teams and associations.
– Major social media platforms, such as Facebook, Instagram, and Twitter, have opened up new avenues for businesses and consumers, as well as they allow sports enthusiasts across the world to interact and share views on a common platform, further easing the process of data collection for analytics. For example, According to SocialBakers, Manchester United achieved 26,938 interactions per 1,000 Instagram fans in the 2016-2017 season, as compared to 4,229 interactions per 1,000 Facebook fans.
Scope of the Report
Sports analytics helps business organizations in searching for an innovative technology in sports, offers various solutions for leading business models to organize and manage teams. Sports analytics is used in identifying, modeling, understanding and predicting sports trends and outcomes while aiding sports management in understanding where sportperson can improve.
Key Market Trends
Football Segment is Expected to Hold Significant Market Share
Growing fan-base and an increasing need for media and sponsor engagement are further creating a need for sports analytics solutions to be deployed in the industry, in order to capitalize on potential business opportunities in the market. Football accounts for the largest share in the sports analytics market, owing to increased attendance for football leagues, such as UEFA Champions League, MLS, EPL, and ISL.There are more than 100 match-specific statistic categories, for instance, shots, goals, assists, yellow and red cards, won and lost duels, and some lesser-known categories, such as accurate corners into box, effective blocked cross, or accurate keeper throws. This type of analytics is useful for clubs, when scouting, to roster development decisions.
– The increasing number of spectators is linked with the performance of the teams, which marks the need to manage several aspects of the latter. This subsequently demands player analysis, team performance analysis, and player fitness assessment, resulting in the sports analytics marketâs growth.
– Another pioneer in sports analytics is the advent of wearable tracking devices, known for their sophisticated performance monitoring that incorporate advanced GPS tracking, along with heart rate. The combined group of GPSport, which was acquired by Catapult Sportsnow, dominates this segment, primarily associated with more than 450 teams worldwide, including Chelsea, Real Madrid, and the Brazilian national team.
– All these tracking devices are a part of the electronic performance and tracking system (EPTS) category. Until mid-2015, football players were allowed to wear them only during training.
– However, FIFA, the international governing body of football, issued a memorandum announcing the approval of wearable electronic performance and tracking systems in matches on a condition that the information is not available to coaches during the match. In addition, FIFA relies on a visual-tracking technology called Matrics to provide extensive data in real time. It constitutes on-site heat map, passes completed, and distance covered by each player during the duration of the fixture.
– Furthermore, teams and clubs partnering with analytics companies is the major trend in the market. For instance, many football leagues and clubs have collaborated with Opta, the leading provider of football sports data. Optaâs analytics are expected to determine every single action of a player in a specific zone on the field, regardless of whether a player has a ball or not.
North America is Expected to Have Largest Market Share
– North America has the highest integration of sports analytics systems, owing to early incorporation and higher revenues associated with the sports industry in the region. Their usage is also driven by the fact that the teams in the region are high value organizations, with huge investments. This requires them to have a regulated business operations based on robust insight, which is provided by the sports analytics systems.
– The North American market is extremely mature. However, the market is expected to witness further growth, due to the increasing incorporation of technology and low penetration in certain sports. In North America, the majority of the teams in Major League Baseball and National Basketball Association are employing these systems, and there remains a substantial market to be tapped in other sports, such as the national football and hockey leagues.
– The competition for user attention among various sports is pushing different sports leagues to incorporate technology that has advanced features and include fan engagement systems, thus creating a demand for the sports analytics systems.The US sports analytics market is considered to be leading, mainly due to the presence of major vendors in the country. In recent years, the US sports analytics market witnessed an increase in the number of mobile and cloud solution providers.
The sports analytics market is a fragmented market. It is a highly competitive market with number of players in the market and there is no dominant player present. For instance, September 2017 – Opta Sports announced a five year agreement with LaLiga to expand global availability of data on Spanish football competitions. The deal aims to broaden the availability of data from one of the worldâs highest profile football leagues, LaLiga and Perform Group through the creation of the LaLiga Official Data Centre. This partnership is aimed at facilitating LaLigaâs innovation across broadcast graphics and production workflows, develop digital data visualisations, fantasy and gaming concepts, as well performance data analytics.
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Sports Analytics Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Sports Analytics Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Sports Analytics market on the basis of product type, application, and region
- To forecast and analyze the size of the Sports Analytics market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Sports Analytics market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Sports Analytics market
- To analyze opportunities in the Sports Analytics market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Sports Analytics market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Sports Analytics Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Sports Analytics trade
Marketing Channel Development Trend
Sports Analytics Market Positioning
Distributors/Traders List enclosed in Positioning Sports Analytics Market
Sports Analytics Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leaders revenue forecasts till 2024. In conclusion, Sports Analytics Market 2019 report presents the descriptive analysis of the Sports Analytics Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Sports Analytics Market competitors.
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