Upsurge in On-Field Data Boosts the Global Sports Analytics Market Growth at 21.51%
According to a new market research report
published by Inkwood Research, the Global Sports Analytics Market is estimated
to record a CAGR of 21.51% during the forecasting years of 2020-2028.
"Browse 51 Market Data Tables and 51
Figures spread over 172 Pages, along with an in-depth TOC on the Global Sports
Analytics Market Forecast 2020-2028.”
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Sports analytics refers to the analysis of the team data and identifying the
correlation and patterns, which will further aid in improving the
decision-making process. Thus, it helps sports organizations in achieving
better results. There are several benefits associated with sports analytics
software like higher accuracy, aid in the making of next level wearable
devices, and real-time data availability of players. The increase in the
adoption of sports analytics is credited to the expansion and shift toward a more
IT- and business-oriented approach.
Increasing
On-Field Data Propels Market Growth
There is a surge in the data volume
generated on-field among sports organizations. This has led to the increased
adoption of sports analytics. Several sports organizations have adopted sports
analytics solutions, which have aided them in analyzing a large volume of data
and providing accurate results. Also, the increasing demand for improvising
team performance further drives the market growth. There is an increase in
demand by the team managers for enhancing the winning percentage and cost
reduction in terms of pay to the players. This can be made possible through the
adoption of sports analytics solutions. In football, the solutions help in
suggesting tactics as per the team’s current situation and the game’s dynamics.
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Marketing/
Sales – The dominant category of the Application Segment
Marketing/sales involve creating and
managing tickets, along with the tracking of its details ad further updates. It
also includes sales functions like advertising, marketing, and post &
pre-sales, promotion of team and players, etc. It plays a pivotal role in the
success of an event. The integration of marketing and media aids in promoting
events for a wide range of audiences, which helps in garnering maximum brand
awareness. A strong combination of sports and business aids in delivering
valuable and corporate hospitality programs at events. It also includes various functions like
promotion of team and players, marketing, advertising, all of which are
profitable for organizations. Also, several organizations are bridging the gap
between online and offline media by tracking the involvement of people visiting
the stadium.
Europe Dominates the Market with 33.75% Revenue Share
Europe
is evaluated to be the largest market in terms of revenue share. The trend is
estimated to continue until the end of the forecast period. The presence of key
players that offer their services & solutions is one of the factors
contributing to the revenue share of the European region. The increasing adoption
of sports analytics solutions in several sports academies and associations for
the betterment of players and augmenting the revenue of the sports
organizations are increasing the market growth in the region. Moreover, the
increasing trend of adopting sports analytics and the financial capacities of
different sports organizations is leading to several growth opportunities for
market growth.
Some of
the leading companies in the market are SAS Institute Inc, Opta Sports, SAP SE,
Oracle Corporation, IBM Corporation, etc. The market is evaluated to be
beneficial in terms of providing significant growth opportunities for new
entrants.
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studies with relevant fact-based research are customized across industry
verticals such as technology, automotive, chemicals, materials, healthcare, and
energy, with an objective comprehension that acknowledges the business
environments. Our geographical analysis comprises of North & South America,
CEE, CIS, Middle East, Europe, Asia, and Africa.
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