Sports Analytics Market Expected to Reach $6.376 Billion by 2026

According to a recent report published by Allied Market Research, titled, "Sports Analytics Market by Component, Deployment Mode, and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global market was valued at $425.76 million in 2018, and the sports analytics software market forecast is projected to reach $6.376 billion by 2026, growing at a CAGR of 40.40% from 2019 to 2026. 

Sports analytics are used by different professionals’ team and sports organization to efficiently and effectively manage the performance of the individual and the team. The primary goal of sports analytics is to analyze the team data and identify different correlation, patterns that will help in improving the decision-making process. Thus, helping the sports organization to achieve better results. Numerous benefits associated with sports analytics software, such as real-time data availability of players, higher accuracy, and making of next level wearable devices are the lucrative factors that boost the market growth. Furthermore, increase in the amount of on-field data and surge in the monitoring and tracking of data of players are the major factors that drive the growth of the market. In addition, rise in time required for accessing the real-time data and increase in demand for predictive insights of fans preferences fuel the growth of the market. Moreover, high investment and maintenance cost and lack of awareness regarding sports technology hamper the growth of the sports analytics market. Furthermore, availability of cost-effective and high-end computing solutions and increase in demand for analytics for complex data streaming are anticipated to provide lucrative opportunity for the sports analytics market growth.

The solution segment dominated the sports analytics market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in adoption of this systems by large sports organizations for improving the performance of their team as well as their player and increasing their fan base. Furthermore, the service segment is expected to grow at a significant CAGR during the forecast period, owing to surge in the adoption of different services by various small sports clubs for improving their playing style.

The marketing/sales segment is expected to garner significant global sports analytics market share, owing to factor such as adoption of this software for various different promotional and marketing activities. However, player analysis and health assessment are expected to grow at a highest rate during the forecast period, owing to increase in need to improve the performance of the player and keeping players away from several injuries.

By region, the global sports analytics market size was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors that drive the growth of the sports analytics market in this region include rise in different initiatives by the sports club to improve the performance of their team and to increase their fan base and revenue opportunity. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period due to rise in new sports organizations and increase in investment in sports technology by various public and private companies. 

Key Findings of the Sports Analytics Market:

• By component, the solution segment led the sports analytics market size in terms of revenue in 2018.
• By deployment mode, the large enterprises accounted for the highest sports analytics share in 2018.
• By region, North America generated the highest revenue in 2018.

The key players profiled in the sport analytics market analysis are IBM Corporation, Oracle Corporation, SAP SE, Stats Perform, Nielson Sports, Tableau Software, SAS Institute, Opta Sports, Trumedia Networks, and Sportradar AG.