Sports Analytics Market Size, Global Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Sports Analytics Market


The global sports analytics market size was valued at USD 774.6 million in 2018 and is expected to exhibit a CAGR of 31.2% over the forecast period. Growing reliance on quantitative data for gaining insights on competitors in sports is a predominant factor driving the market worldwide. Sports associations and coaches rely heavily on the data generated through sports analytics. This data can be used for various purposes including selection of players, deciding playing line-ups, and strategy formulation before, during, and after the game.

Today, sports analytics solutions are used across wide range of games including football, basketball, and baseball. Real-time information with respect to speed attained, runs scored, acceleration achieved, and energy levels of a player during the game help coaches and team managers in evaluating players performance in the game. Moreover, data generated from the previous games is compiled and used for determining the strategy to be applied during the on-going gaming event or season. Thus, growing need to gain insights on competitors strategy and to ensure competitive edge over the opponent is expected to boost the market over the forecast period.

Traditionally, sports used to be a mere game of chance where the outcome was dependent only on the ability of players.  With the advent of digitalization and consequent increase in the adoption of analytics, sports have become number games where the chances of winning the game depends on the level of adoption of analytics to determine the in-game strategy. Sports analytics provide a platform to the sports associations, coaches, players, and other stakeholders to get an insight on the players performance and therefore the team performance as a whole, which, in turn is expected to drive the market growth over the forecast period.

Moreover, use of analytical tools in sports has given rise to the fantasy gaming industry. Data generated through sports analytics is used in fantasy games such as fantasy football, fantasy baseball, and fantasy cricket, wherein sport aficionados get insights into the actual statistics of players based on the calculations from the last game. Using that data, the person playing the fantasy sport selects players of his own choice which thereby increases the involvement in the game. Increasing adoption and involvement in fantasy gaming has given rise to the need for analytics in sports, which will further act as a market driver over the coming years.

Component Insights of Sports Analytics Market

Based on component, the market has been classified into software and services. The software segment dominated the market in terms revenue in 2018 and is expected to remain dominant over the forecast period. Increased adoption of sports analytics software solutions can be largely credited to growing preference for cloud-based software solutions, offering benefits in terms of data security and ease of accessibility to the end-users such as sports associations, clubs, leagues, and sportsperson. Moreover, sport aficionados have also been observed to be using smartphone applications for analyzing the data related to sports. The advent of cloud-based solutions offering easy accessibility coupled with proliferation of smartphones and other smart devices has led to an increased use of data analytics, aiding the growth of the software segment.

Use of analytical tools in sports requires an exceptional understanding and knowledge of analytics. Hence, sports associations need services of skilled workforce having expertise in analytics. Lack of availability of skilled workforce having in-depth knowledge of analytical tools makes such associations switch to companies providing analytical services. Higher cost associated with such analytical services is hindering the growth of the segment. On the other hand, several universities and colleges, especially in the Asia Pacific region have started analytics as a separate education field and are observing a high turnout of students opting for this field, thereby delivering more analysts per year. This trend in expected to gradually subdue the impact of lack of availability of skilled analysts to the growth of the market in the coming years.
Analysis


Type Insights of Sports Analytics Market

Based on analysis type, the market has been segmented into on-field and off-field. The on-field segment dominated the market in 2018 and is expected to register a higher CAGR over the forecast period. Higher growth of this segment is pertaining to the growing use of analytical solutions in outdoor games such as cricket, rugby, hockey, and swimming. Furthermore, under the on-field segment, player and team analysis is expected to hold a major share. Use of analytical tools in sports provide ample amount of data related to the players performance and fitness. Sportsperson and coaches use this data to determine the in-game strategies and techniques and thereby increase the chances of winning the game. Also, sports organizations use analytics to organize and manage the teams.

The off-field segment accounted for 46.9% share in the sports analytics market in 2018. Off-field analytics used in sports aids higher involvement of sport aficionados as well as other spectators in the game. Analytics is applied in real-time as a game progresses, which therefore is made available to the spectators to understand the criticality of each event during the game. This analytical data is also used as an input for people to invest in gambling activities in countries where it is legal. Countries where sports gambling is restricted or banned, analytical data is used to play fantasy sports wherein people can earn coins or points without real money getting involved. Hence, fan engagement has been observed to be the most important driving force for the growth of the off-field segment.

Sports Insights

Based on sports, the market has been segmented into football, cricket, baseball, basketball, rugby, and others. The others segment includes sports such as swimming and hockey. The football segment dominated the market in 2018 owing to the immense popularity of the sport worldwide, especially in European countries such as U.K., Spain, and Germany. These countries conduct several football leagues including the English Premier League, La Liga, and Bundesliga. Analytics plays a crucial role in football for gaining insights on different fields including players health, acceleration attained, passing trend, and number of touch-down passes. Conclusively, greater popularity of football worldwide is considered as the major factor for the higher share of this segment.

Additionally, the basketball segment is expected to grow at a considerable rate over the forecast period. This growth can be attributed to the use of analytical tools in basketball for gaining insights on the playing techniques of the players. Moreover, since a basketball court is much smaller in size as compared to football, cricket, and rugby playgrounds, it becomes difficult for coaches and team managers to observe every minute detail of the game. Hence, to get detailed insights of the game, analytics is increasingly used in basketball. The trend is presumed to continue, driving the market during the forecast period from 2019 to 2025.

Regional Insights of Sports Analytics Market

In terms of revenue, North America dominated the global market in 2018 and is expected to remain dominant over the forecast period. The growth is majorly attributed to relative greater adoption of analytics across sports in countries including the U.S. and Canada. The companies providing analytical solutions in these countries are observed to be investing considerably in research & development activities in order to develop advanced big data analytics solutions. Moreover, the region being early adopter of technology, dominates the market worldwide.
Asia Pacific is anticipated to register highest growth over the forecast period owing to a growing popularity of sports as a career option. Countries like China and Japan are the major contributors to the growth in the Asia Pacific market. Sportsperson in these countries are famous for performing exceptionally well at international sports championships. In wake of rising competitive nature of sportsmen across different sports, the use of analytical tools to gain insights on player and his performance has surged over the last few years. In countries like China and Japan sports analytics play a vital role in player selections and to govern possible outcome of sporting events.

Market Share Insights of Sports Analytics Market

Key players in the market include Experfy Projects; Oracle; IBM Corporation; SAP; Sportradar AG; Tableau Software; and SAS Institute Inc. With the intensifying market competition, all the aforementioned established players are trying to defend their market position. These players are investing in research and development in order to bring new technologies to the market. Moreover, business expansion through strategic partnerships, mergers, and acquisitions remain other prominent strategies in the market. Market players are also launching new products and services and maintaining competitive prices.

Companies such as IBM Corporation and Oracle, hold expertise in analytical technologies, thereby helping their customers in leveraging the humungous amount of data generated from internet devices. Moreover, IBM Corporation offers maximum number of technology-advanced solutions for developing smart stadiums and playgrounds.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Sports Analytics Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global sports analytics market report based on component, analysis type, sport, and region:

Component Outlook (Revenue, USD Million, 2019 - 2030)

  
Software
  
Service

Analysis Type Outlook (Revenue, USD Million, 2019 - 2030)

  
On-field
  
Player & Team Analysis
  
Video Analysis
  
Health Assessment
  
Off-field
  
Fan Engagement
  
Ticket Pricing

Sport Outlook (Revenue, USD Million, 2019 - 2030)

  
Football
  
Cricket
  
Baseball
  
Basketball
  
Rugby
  
Others