Market overview
The worldwide Sports Analytics Market Forecast is estimated to account for a CAGR of 30.5% for the forecast period of 2019 to 2025. Sports analytics are essential in training sessions or matches. These analytics are helpful for the sporting teams to access and gather the facts and information related to any team performances and the players.
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The Sports Analytics Market Forecast is driving the market growth due to the increasing demand for predictive insights into the preferences of fans and the growing demand for tracking and monitoring the data of players.
There are different purposes to use this data, including deciding playing line-ups, selecting players, and strategy formulation after, before, and during the game. However, the global market might experience restraints due to the lack of awareness about the advanced technologies in sports.
Market segmentation:
The global Sports Analytics Market Forecast has been segmented on the basis of type, sport, deployment model, component, and application. Depending on the application segment, the present market has been classified into team performance analysis, player analysis, health assessment, video analysis, digital experience analysis, fan engagement analysis, data interpretation and analysis, and others. Of these, the performance analytics segment is registered to hold the highest CAGR over the assessment period.
The global market has been divided into two types: off-field and on-field. The current market has been segregated into cricket, football, basketball, baseball, rugby, and others based on the sports segment. Out of all, the football segment is projected to generate the largest market share during the analysis period.
The Sports Analytics Market Forecast has been categorized into cloud and on-premise based on the deployment mode segment. Among all, the cloud segment is estimated to hold the largest market size over the review period. The worldwide market is classified into services and solutions in the component segment.
Regional analysis:
The study of the Sports Analytics Market Forecast has found that there are different geographical locations existing that help in the market growth, including Asia-Pacific, Europe, South America, North America, the Middle East, Africa, and others.
Geographically, the North American regional market is accounted to dominate the global market in the year 2018. Further, this regional market is estimated to register the largest market share over the review period. According to the analysis report, the growth of this region is lying upon the high adoption of sports analytics across various countries like Canada and the US. Moreover, the technological advances and changing sports dynamics are also contributing to the regional market growth.
Apart from the North American region, the Asia Pacific region is registered to expand at the highest CAGR during the assessment period. This region is growing continuously due to the increasing popularity of sports and increasing career options of the sports in the region. In the Asia-Pacific market, the countries like Japan and China are considered to be the major contributor to market growth.
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Industry news:
In June 2020, the next-generation sports analysis platformHamburg-based startup Bepro declared an additional EUR 8.8 million funding. The platform has aimed to use funds from Miraeasset Ventures, Altos Ventures, Saehan Ventures, Softbank Ventures, and Spring camp to expand their football tech on the global level.
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