IMARC Group, a leading market research company, has recently releases report titled “Sports Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global sports analytics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Sports Analytics Market?
The global sports analytics market size reached US$ 1,085.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,097.8 Million by 2028, exhibiting a growth rate (CAGR) of 18.6% during 2023-2028.
What is Sports Analytics?
Sports analytics is the analysis of sports data with statistical and mathematical principles to analyze various components of sports, such as business operations, player performance, and recruitment. Some commonly adopted sports analytics techniques comprise data science, machine learning (ML), convolutional neural networks (CNN), logistic regressions, hypothesis testing, and historical data analysis. The data offers competitive advantages to individuals and teams participating in event enterprises and competitions. It also helps evaluate the strengths and weaknesses of opponents, reduce operating costs, increase overall income, and ensure high returns on investments (ROIs). As a result, sports analytics is widely adopted by sports media, wearable technology, training technology companies, sports programs, and professional college across the globe.
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What are the growth prospects and trends in the Sports Analytics Industry?
The market is primarily driven by the widespread popularity of sports among individuals across the globe. In addition, the rising importance of on-field data to analyze team performance, monitor injuries, track individual players, and optimize the training curriculum of players is contributing to the market growth.
Moreover, the escalating demand for improved wearable devices amongst athletes to gain insights into performance and fitness variables, such as heartbeat, speed, and acceleration, and the sudden outbreak of the coronavirus (COVID-19) pandemic represents another major growth-inducing factor.
Besides this, continual technological advancements and the adoption of Artificial Intelligence (AI), big data, machine learning (ML), and the internet of things (IoT) to measure the patterns in a sport are providing a positive thrust to the market growth. Furthermore, extensive research and development (R&D) activities for improving wireless sensor technologies and real-time analytics are creating a positive market outlook.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Software
- Service
Breakup by Analysis Type:
- On-field
- Player and Team Analysis
- Video Analysis
- Health Assessment
- Off-field
- Fan Engagement
- Ticket Pricing
Breakup by Sport:
- Football
- Cricket
- Hockey
- Basketball
- American Football
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Chyronhego Corporation, Experfy Inc., HCL Technologies, International Business Machines Corporation, iSportsAnalysis, Oracle Corporation, Qualitas Global Services, SAP SE, Sas Institute Inc., Sportradar AG, Stats Perform, Tableau Software LLC (Salesforce.com Inc.).
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