While the sports analytics technology is in infancy and currently represents a mere US$1.4 Bn market worldwide, it holds immense potential and will witness stupendous growth in the next few years. A recently published report of Fairfield Market Research projects a staggering CAGR of around 25.9% for global sports analytics market between 2022 and 2029. Toward the end of forecast period, the market is likely to reach the revenue worth US$15.8 Bn, suggests the report. Collectively, the key markets, i.e., North America, and Asia Pacific will account for over half the market share, whereas performance analysis will continue to represent the most lucrative segment in terms of application with over a fourth of the overall market valuation. Rising importance of on-field data for effective monitoring of sportsmen and tracking of sports-related injuries is expected to heighten the growth prospects of sports analytics market.

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Adoption of Sports Analytics Broadens as the Technology Captures Attention of Players, and Coaches Alike

Increasing consideration of sports analytics-enabled features to be used in effective planning of improved dietary regime for players points to yet another opportunity arising in the sports analytics market. As the technology also aids in ticket sale monitoring, adoption is likely to pick pace in light of an increasing number of sporting leagues, and tournaments worldwide. With a growing number of teams, and coaches increasing their dependence on data drawn from analytics to efficiently scout their opponents, the growth of sports analytics market will remain on an uptrend, says the report. Growing awareness across industry regarding the role of comparison between on-field and off-field data for effective management of individual players, as well as teams is likely to drive the growth of sports analytics market. Sports managers have been relying more on real-time data to get informed about the various gaming strategies, and athletic performance, in turn favouring the growth of the market. The report highlights soaring investments of professional teams in sports technology. Moreover, growing interest of betting companies, and fans in sports data and predictions will further contribute toward the growth of market.

Performance Analysis Remains the Key Application Area

Cloud-based technology deployment continues to be most sought-after with more than 80% market share. Based on the market analysis by application, the report anticipates performance analysis to be at the forefront of demand generation throughout the period of projection. The segment is likely to account for over 25% market share, says the report. Player fitness and safety, and broadcast management are on the other side are expected to emerge attractive in the next few years. Growing role of technology in vital aspects like team and individual player valuation, and fan engagement will push adoption rate in sports analytics market. The market analysis by team sports reveals that although football remains the largest revenue contributing segment with around a fourth of the total market revenue, it is more likely that cricket, and basketball will emerge more attractive as the next most profitable segments in sports analytics market. Investments of international teams, and renowned football clubs continue to augment, thereby fueling the expansion of sports analytics market. The report however marks the maximum investments flowing into the world of football.

North America Spearheads Global Sports Analytics Market, Asia Pacific Closely Trails

With over 26% market value share, North America remains dominant in global sports analytics market space. Unprecedented penetration of AI in sports industry in addition to increasing adoption of video technologies for analysis is expected to support the progress of the market across the region. Strong presence of some of the globally leading sports organizations, especially in the US will further complement the market expansion here. On the other hand, Asia Pacific is projected to closely follow North America in terms of market share and will demonstrate a robust double-digit growth rate during 2022 – 2029. Expansion of cricket industry across the Asian economies will substantially contribute toward market growth here.

Key Players Steering Sports Analytics Market

IBM, HCL, Salesforce, SAS Institute, EXL, GlobalStep, Catapult, ChyronHego, TruMedia Network, DataArt, Orreco, Stats Perform, Quant4Sport, Zebra Technologies, Exasol

For More Information Visit: https://www.fairfieldmarketresearch.com/report/sports-analytics-market

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