Sports analytics helps the sports organizations in managing and analyzing the data from various sources, thereby improving the decision making and business processes. It also helps understand the risk probability and opportunities in the sports industry. With the increasing volume of on-field and off-field data generated among different sports organizations day-by-day, the need for managing all the data in an efficient manner and obtaining real-time insights delivered on smartphones and other devices has also increased, thereby boosting the adoption of sports analytics solutions. Thus, with the increasing demand and adoption, the global market for sports analytics is expected to witness good growth over the coming years.
Drivers & Restraints
The significant growth of the global market for sports analytics can be primarily attributed to the following factors:
- Increased amount of in-field data
- Rising demand for real-time data access
In addition, availability of cost-effective and high-end computing solutions and increased demand of analytics for complex data streaming are expected to fuel the growth of this market even further. However, lack of awareness regarding technology involved in sports and budget constraints are the factors that may hamper the growth of this market. Moreover, working upon the lack of appropriate analytical skills remains a key challenge for the major players involved in this market.
Key Market Findings
Projected to grow at a CAGR of 37.9% during the forecast period, the size of the worldwide sports analytics market which is estimated to be USD 123.7 Million in 2016 is expected to reach USD 616.7 Million by 2021. Of all the regions, North America is likely to be the biggest market in 2016, followed by Europe and Asia-Pacific, and it is also projected to grow at a CAGR of 38.4% during the forecast period. However, the market in Asia-Pacific is expected to grow at a higher rate, owing to the increasing digitization trends and large number of sports being played in this region is giving rise to adoption of sports analytics solutions.
Based on applications, player analysis and team performance analysis solutions are anticipated to witness the highest adoption rate over the forecast period. On the basis of deployment, increasing adoption for cloud-based solutions and demand for analytics for complex structured data streaming are expected to present ample growth opportunities for this market in the near future.
IBM, SAP, SAS, Tableau Software, Oracle, STATS LLC, Prozone, Sportingmindz, TruMedia Networks and Opta are some of the major companies involved in the global market for sports analytics.
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Research Scope
The analysis and forecasts for the global market for sports analytics has been done on the basis of following segmentation:
- Type: Solutions, Services
- Applications: Player Analysis, Team Performance Analysis, Health Assessment, Video Analysis, Data Interpretation and Analysis, Fan Engagement, Others
- Deployment Type: On-Premises, Cloud
- Geography: North America, Europe, Asia-Pacific, Middle East & Africa, Latin America
