The report ' Sports Analytics' Market By Component (Software, Service), By Sports (Football, Cricket, Baseball, Basketball, Rugby, and Others)- Global Forecast to 2030. The Market for Global Sports Analytics is predicted to reach a market value of USD 16.5 Billion by 2030 from $ 2.1 Billion in 2020, at a CAGR of 22.9 percent during the forecasted period. Vital pointers like the growing expenditure on the adoption of newer technologies and innovations, change in the lifestyles of the consumers, growing adoption of analytical data in the fantasy gaming platforms, and a rise in the number of customer channels are prevised to fuel the sports analytics market.
To know more about the report, Click on the link https://www.strategicmarketresearch.com/market-report/sports-analytics-market
In terms of components, the software segment held the market's maximum share, containing 57 percent in 2020. Coaches and team managers, with respect to every sport, prefer software applications since it provides easy optimization of marketing and advertising campaigns. For example, a professional baseball team based in the U.S, the front-office team of Texas Rangers, is utilizing Tableau Software, LLC’s sports management software, which gives a complete view of all the operations, containing real-time ticket and merchandise sales, in-stadium food & beverage sales, game attendance, and promotional activities.
The Football segment has the biggest market size during the projected period in terms of sports. Football is one of the essential sports in the entire team sports segment that utilizes several tracking solutions to enhance the overall performance of the player. Moreover, the football segment is prevised to have a CAGR of over 24 percent all over the forecasted timeframe. Furthermore, the basketball segment is presumed to have a moderate growth rate over the indicated timeframe. Currently, the Basketball teams are utilizing high-tech analytics for scouting, establishing winning strategies, predicting and avoiding player injuries, and many others.
North America is prevised to have the largest market share of the global sports analytics market. It contributed to about 28 percent of the market share. Key parameters favoring the enhancement of the sports analytics market in North America are the rising technological advancements in the region, growing demand for video analysis, increasing utilization of AI technology, and increasing investments in the current innovative technologies by the club associations. These are some of the vital factors that augment further growth of the market. On the other hand, APAC held a higher CAGR during the estimated period. Moreover, nations like China, India, and Japan have lucrative growth opportunities in the sports analytics market.
Crucial players operating in the Sports Analytics Market are Oracle Corporation, Catapult, ChyronHego Corporation, Sportradar AG, IBM Corporation, SAP SE, Experfy Inc., Deltatre, SAS Institute Inc., Agile Sports Analytics, LLC, Genius Sports Group, and Stats Perform.
Recent Developments