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Sports Analytics Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2026

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Sports Analytics Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2026

September 09
04:16 2023
Sports Analytics Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2026
Sports Analytics Market by Component (Solutions, Services), Application, Deployment Mode, Organization Size, Industry Vertical, and Region (APAC, North America, MEA, Europe, Latin America) (2022 – 2026)
Sports Analytics Market by Component (Solutions, Services), Application, Deployment Mode, Organization Size, Industry Vertical, and Region (APAC, North America, MEA, Europe, Latin America) (2022 – 2026)

The sports analytics market size to grow from USD 2.5 billion in 2021 to USD 8.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 27.3% during the forecast period. Various factors such as increasing spending on adoption of newer technologies, changing landscape of customer intelligence to drive the market, and proliferation of customer channels are expected to drive the adoption of sports analytics technologies and services.

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Sports Association segment to account for a larger market size during the forecast period

Sports associations have struggled for years with the large amount of sports data that may be collected and the prohibitive cost of gathering that data internally. While many associations have successfully reduced costs through automation and outsourcing, crowdsourcing is emerging as a viable option. Analytics associations have been preoccupied with tracking physical performance statistics of their players for over a decade in order to understand which athletes work the hardest on the field. They want all of the information, including distance travelled, velocity, acceleration, and the distance between players, among other things. Because of their precision and capacity to collect data in real time, electronic wearables are an attractive offer. Individual teams can easily adopt them in practice, but in competitive games, the barriers can be higher because they require league-wide agreement.

Football in Team Sports to have the largest market size during the forecast period

Football is one of the major sports in the team sports segment that uses various optical tracking solutions to boost player performance. Salesforce focuses on offering game changing visualizations through dashboards that provide play-by-videos and statistical data in form of dashboards. ChyronHego is another company which provides TRACAB solution to capture live tracking data of the player’s performance during matches and provide technology that drives ticket pricing to engage fan experience. Real-time tracking solutions are used in FIFA World Cup, National Football Leagues, and Football clubs to analyze the player’s performance. National Football League (NFL) uses hard-hitting analysis for accurate decisions as well as for improving player’s health through electronic health record devices which track on-field performance of players.

Traditional analytics platforms use static and stored data to analyze simple or complex patterns and react to any business situation. These platforms take days to analyze and weeks to act on the stored data. Sports analytics technology is the core enabler of big data, enabling businesses to use historical data and combine it with customer insights to predict future events. Big data is an ever-increasing technology that assists businesses in optimizing processes and minimizing operational costs. The combination of real-time data streams, Artificial Intelligence (AI), Machine Learning (ML), and sports analytics can deliver competitive business advantages. Traditional analytics and BI systems use the deductive approach for analyzing data. This approach works well with structured data. Sports analytics, on the other hand, applies the inductive reasoning analysis approach, which deals with large datasets derived from ML, robotics, sensors, and AI. It uses algorithms that carry out complex calculations on large data sets and discover interrelationships and patterns between them. Big data offers the capability to gather, manage, and examine data across business verticals, such as banking, healthcare, and agriculture, which has made it a trending topic in Information Technology (IT) for a decade. It has numerous applications, and one such field where it has revolutionized the entire landscape is the sports industry. Data has always been crucial in sports to gain strategic decision-making capabilities and formulate other business strategies. Sports generate a large amount of data related to players, team performance, and the audience. Big data has made it easier and quicker for coaches, team managers, and sports associations to analyze the collected data and make optimum use of it. It further helps reshape existing business models, where sports are viewed as both commercial and technological platforms. To transform sports arenas into a testbed facility for the implementation of IoT on a wide-scale deployment, the technology platform is expected to comprise a robust Wireless Fidelity (Wi-Fi) network, mobile and cloud computing, and Internet of Things (IoT) technologies. IoT would eventually digitalize stadium operations and provide fans with an enhanced connected experience. A smart stadium, therefore, would use sophisticated technologies and robust infrastructure to enhance its operations to lure fans to the stadiums.

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Sports Analytics Market Regional Analysis:

Europe boasts the most sophisticated and well-known football associations and clubs in the world. Different European football leagues, such as the Barclays English Premier League, Bundesliga (Germany), Scottish Premier League (Scotland), and La Liga (Spain), play at frequent intervals, and their managements invest extensively in technologies for efficient game and individual tracking. The adoption of sports analytics solutions is growing at a rapid pace in the UK due to a rise in investment by teams, sports associations, governments, and management in technologies. The major reason behind the adoption of sports analytics solutions is increased awareness about science to keep track of players’ performance and improve it over time, thus creating a competitive edge. Germany is considered one of the world’s foremost countries. Most active players adopting new technologies are from Germany, which is deemed as a leading country for investment. France is expected to come up with some opportunities in sports analytics solutions in its forecast period. The team members in this region are very aggressive and easy to adapt to any change. There are some associations that are using this solution to monitor their health in a training session so that they can avoid any problem and perform better over time. This is expected to drive the adoption of the sports analytics market, which will help grow the economy.     

Unique Features in Sports Analytics Market:

The sports industry is undergoing a change, and the sports analytics market is providing a variety of distinctive features that are essential. It offers thorough performance tracking in the first place, allowing for real-time monitoring of both team and player information. Player biometrics, such as heart rate and level of physical activity, also provide important clues about a player’s health and fitness during practise and competition.

Another noteworthy component is the use of sophisticated video analysis tools, which enable coaches and analysts to examine game film, spot trends, and make tactical choices based on player and team performance. Additionally crucial is predictive analytics, which aids in predicting player and team performance for player selection and game strategy.

In order to regulate player workload and lower the risk of injuries, analytics platforms with injury prediction algorithms are a major focus. Sports leagues use analytics to deliver personalised content, dynamic graphics, and real-time statistics through mobile applications and websites, boosting the overall fan experience.

With the use of data-driven insights into player potential and performance, recruitment and scouting are benefited by analytics, allowing organisations to find talent. Through the use of analytics, coaches can improve game plans by selecting players, adjusting tactics, and analysing opponents based on data.

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Major Highlights of the Sports Analytics Market:

The Sports Analytics Market has a number of significant highlights that are changing the face of sports. First off, it helps teams and athletes perform better by offering thorough insights into player data, game plans, and training regimens. Real-time monitoring throughout practises and games enables quick modifications and data-driven choices.

With analytics providing insights to control player effort and reduce injuries, player health and injury prevention are significant areas of focus. Coaches are equipped with sophisticated video analysis tools to dissect game footage, spot trends, and make tactical choices. Real-time analytics and personalised content improve fan engagement, resulting in increased income and fan loyalty.

Data-driven insights on player potential and suitability aid in recruiting and scouting. Analytics aid in tactics, opponent analysis, and player utilisation, which improves game plan optimisation, particularly in team sports. Esports analytics, which offer insights into player performance and spectator involvement in competitive gaming, are increasing popularity.

Top Key Companies in Sports Analytics Market           

Some major companies in the sports analytics market include IBM (US), SAS Institute (US), Salesforce (US), EXL (US), GlobalStep (US), Catapult (US), HCL (India), ChyronHego (US), Stats Perform (US), TruMedia Network (US), DataArt (US), Orreco (Ireland), Quant4Sport (Italy), Zebra Technologies (US), and Exasol (Germany). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global sports analytics market.

International Business Machines (IBM) was incorporated in 1911 and is headquartered in New York, US. IBM is one of the leading American computer manufacturers and providers of cloud, cognitive security, research, analytics, consulting, IoT, and IT infrastructure. IBM operates through five segments: Cloud & Cognitive Software, Systems, Global Technology Services, Global Business Services, and Global Financing. In the sports analytics market, IBM Watson provides Watson IoT and a sports analytics platform for athletes. The platforms provide a dashboard that helps the athlete to track their performance and compare it with other athletes and accordingly enhance their performance. The platform further helps coaches track the player’s performance through sensors on the player’s hand, such as incorrect posture, possible injuries while playing, and heart rate, thus making sports safer for professional athletes. Watson IoT focuses on improving player performance, providing an excellent fans experience, optimizing Return on Investment (RoI), and improving venue infrastructure to deliver the best results in sports analytics.

SAS is a leading provider of enterprise application solutions and services. It is also leading experience management, analytics, and BI company. Its solutions are compliant with GDPR. They enable enterprises to build intelligent AI- and ML-based software to unite human expertise with machine-generated insights. The wide range of products and services offered by the company the company offers makes it one of the largest vendors in the sports analytics market. With innovative product offerings, it aims to build analytical solutions for clients to improve their future position in the market. It offered the SAS Optimization solution for the European championship, scheduled in June-July 2020, to engage football fans in stadiums by analyzing fan behaviors, such as those that eagerly watch the match. The data would provide an overview to increase the European championship RoI during matches. The SAS software is deployed in more than 83,000 business establishments, government offices, and universities, and has customers across 183 countries.

Salesforce is a Customer Relationship Management (CRM (Customer Relationship Management) solution and service provider company. Salesforce acquired Tableau, a leading provider of an analytics platform. This acquisition would strengthen Salesforce’s position in the digital transformation space. The company’s integrated platform provides a single shared view of every customer across departments, such as marketing, sales, commerce, and services. The company offers a wide range of products and services across segments, such as sales, services, marketing, application, analytics, employee experience, trailblazers and reskilling, and enablement and collaboration. Most of these segments operate on a single trusted cloud platform. Salesforce’s service offerings can be easily deployed through mobile devices and internet browsers and can be integrated with other platforms and enterprise applications. It offers a cross-cloud technology named Salesforce 360, which helps its clients have a single integrated, holistic customer profile for various departments. The organization caters to various industries, including BFSI, healthcare and life sciences, government, communications, retail, consumer goods, media, manufacturing, transportation, and hospitality, automotive, and education.

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