Definition of Sports Analytics Market

The process of applying data and collecting it based on the performance of the players under different circumstances is called sports analytics. This is done to improve the performance of the team and to help make better decisions. The sports analytics collected is a compilation of the historical statistics which helps provide a team or an individual with a benefit if used in the right way. The main objective of sports analytics is to enhance player performance and preserve the fan base of various large sports organizations and sports clubs.

Global Sports Analytics Market: Key Insights

Global Sports Analytics Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global sports analytics market is estimated to garner a revenue of USD 20 Billion by the end of 2033 by growing at a CAGR of ~40% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 3 Billion in the year 2022. The primary growth factor of the sports analytics market is data integration. This is due to the increasing demand for better infrastructures that allow clubs and players to track, measure, and analyze their game performance in real time. In addition, there has been a rise in demand for new analytical tools that can identify player strengths and weaknesses on an individual level. As per recent data, the national average compensation for positions in sports analytics is generally $93,092 per year, although this amount can change depending on several variables like region, education, and experience.

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Since, each major sport has experienced a unique evolution in analytics, with management hiring data scientists and looking for new ways to objectively evaluate athletes and gain a competitive advantage. The next level of sports analytics has been achieved mainly through tracking software and machine learning. Employ cameras and machine learning tools to monitor player movement, ball velocity, and spin rates, which frequently affect broadcasts and team decisions. For instance, baseball players frequently use tablets to review information like pitch distributions and make adjustments mid-game. As per recent statistics, the kind of analytics in use now in Basketball games allows clubs to collect 25 data points per second for each player on the court thanks to player monitoring technologies.

Global Sports Analytics Market: Growth Drivers and Challenges

Growth Drivers

• Increase in Demand from Professional Athletes – As per recent statistics, athletes’ and sports competitors' employment are expected to increase by 36% between 2021 and 2031, which is substantially faster than the average for all occupations. In May 2021, the average yearly salary for sportsmen and sports competitors was USD 77,300.

• Growing Demand from Machine Learning Applications – To "score players' skills and potential and score them in different categories, machine learning algorithms are integrated into either aggregated or event-based data. As per recent statistics, there are around 30 instances of the program running right now, and 5 million events have been fully captured. A considerable volume of data, particularly from elite sports, allows for a more in-depth study. A machine-based method is intriguing for this problem.

• Increases in Smartphone Penetration – Varsity athletes are a group of top performers who belong to a demographic known for using smartphones and multitasking across media. Modern culture is completely dependent on smartphones, especially among young people. As per recent statistics in 2019, 98% of people aged 15 to 24 own a smartphone, and despite global trends slowing down, the number of smartphone users has increased.

• Increase in Investment into Big Data Technologies – Sports provide a lot of information about the participants, the effectiveness of the teams, and the spectators. Large amounts of this data may be analyzed and used thanks to big data. As per recent statistics, every day, 2.5 quintillion bytes of data are generated, according to estimates. Big Data is the enormous amount of data that humans produce.

Challenges

• Lack of Standardization Across Different Leagues and Teams Around the World

• Lack of Reliable and Accurate Data

• High Expenses Associated with such Solutions- Integration and implementation of sports analytics is costly as it involves the use of latest technologies such AI and big data. This challenges the market’s growth.

The global sports analytics market is segmented and analyzed for demand and supply by component into solutions and services. Out of these, the solutions segment is anticipated to hold the largest share over the forecast period due to its strong focus on player tracking and advanced analysis tools that are used by teams across all levels. GPS/tracking solutions are projected to lead the market as they provide comprehensive insights into athlete movement, performance metrics such as speed, and distance covered, injury prevention strategies targeted toward elite players, and account management tools within organizations. As per recent statistics, team sports at the professional and academic levels increasingly use athlete performance monitoring equipment. Small (about 3 x 1.5 inches), individual devices are often attached to an athlete's upper back through a vest.

Global Sports Analytics Market Regional Synopsis

Regionally, the global sports analytics market is studied in five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033, owing to the increasing interest in sports performance analysis among organizations and individuals across this region. As more companies become aware of how beneficial sports analytics can be, they are investing money into various software platforms that allow them to make better strategic decisions. According to recent data, in the US, 28.33 million people watch collegiate athletic events annually on average. Currently, there are around eight million students who compete in high school sports in the US.

Market Segmentation

Our in-depth analysis of the global sports analytics market includes the following segments:

Key Companies Dominating the Global Sports Analytics Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global sports analytics market that are included in our report are IBM Corporation, Oracle Corporation, SAP SE, Stats Perform, Nielson Sports, Tableau Software, SAS Institute, Opta Sports, Trumedia Networks, Sportadar AG., and others.

Global Sports Analytics Market: Latest Developments

• 26th October 2021: IBM Corporation - To advance the company's capabilities in hybrid cloud, AI, network automation, and security, IBM today announced new collaborations and increased partner relationships at Mobile World Congress in Los Angeles. These developments demonstrate IBM's contribution to the telecoms sector's evolution as 5G and Edge Computing transform how companies and consumers connect.

• 2th September 2021: Tableau Software - The top analytics platform in the world today introduced new data and analytics platform features. By empowering everyone in an organization, the new enterprise features and new enterprise subscription levels will aid clients in advancing their digital transitions. 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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