Worldwide Sports Analytics Market to Reach $3.97 Billion by 2022
Analytics has evolved rapidly in the sports industry. It has assisted teams in winning games in the dying minutes and taking split second decisions in major games such as motor sports. The adoption of analytic technology in the sports industry is likely to evolve further in the next 5-10 years.
Bengalore, India, April 10, 2017 (Newswire.com) - Infoholic Research LLP, a global market research and consulting company, has published a study titled “Worldwide Sports Analytics Market – Drivers, Opportunities, Trends, and Forecasts: 2016–2022”.
According to Infoholic Research, data-based decision making is the major reason for the growth of sports analytics. Coaches want to get insights into real-time data to monitor the performance and fitness of players and create game strategies. In terms of business, owners and managers want to utilize data extracted from customer touch points and social media to understand the fans, engage them, and turn them into loyal customers. Overall, the sports clubs want to gain a competitive edge over their competitors. The market is expected to grow at a CAGR of 40.1% during the forecast period 2016–2022 to touch an aggregate of $3.97 billion by 2022.
"The adoption of analytics in the sports industry is expected to increase due to the rapid growth in data generation. The cloud technology, big data, Wi-Fi analytics, and wearable devices are set to be the key elements for the sports analytics market growth," said Jaydeep Bhattacharjee, group head at Infoholic Research.
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The sports analytics market is studied based on three segments: sports type, applications, and regions. The team sports are the major users of analytics when compared to the individual sports. Due to the global popularity of football, there are several major clubs and are also the dominant users of sports technologies and analytics. In the upcoming years, football, baseball, and basketball clubs are expected to increase their investment in analytics and various advanced technologies (e.g. cloud, wearable technology, etc.) to improve the fan experiences, team performance and to increase their revenue percentage. Individual sports segment is set to be the emerging market for sports analytics due to growing demands and rising adoption rate of wearable technology.
Fan insight and engagement is the major application preferred by sports leagues and clubs. The owners and business managers want to get a 360-degree view of the fans and engage them as per the extracted information. The fan’s data is also utilized in operations in creating marketing plans and ticket sales. Team management is the next major application, which is being used since the beginning of analytics in sports.
North America is the biggest market for sports analytics. Sports analytics has seen a major success and has been widely adopted by the big clubs and in leagues. Europe is the second largest market for sports analytics. Asia Pacific and Middle East & Africa are the emerging regions in sports analytics market. In Asia Pacific, rising number of leagues and investments are likely to drive the market. India and China are expected to be the major markets in Asia Pacific in the next 5 years.
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“The adoption of analytics in the sports industry is expected to increase due to the rapid growth in data generation. The cloud technology, big data, Wi-Fi analytics, and wearable devices are set to be the key elements for the sports analytics market growth,” said Jaydeep Bhattacharjee – Group Head at Infoholic Research.
“Sports analytics has been widely accepted by major leagues and clubs around the world. Various sensors, video, and wearable technologies have already impacted the growth of analytics in sports. The rising investments by private and public entities are expected to increase the adoption rate of analytics in the sports industry. IoT is going to play a role in the integration of devices, ” said Bhavya H, Senior Research Analyst at Infoholic Research.
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
This report not only highlights users’ conundrum (challenges and barriers to adopting sports analytics) but also brings in their perspective on the market
The market has been analyzed by considering the key regions – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Provides industry outlooks including current and future market trends and drivers, restraints and emerging technologies
The report analyzes the market according to the sports type, applications and regions
The report analyzes the top 14 players in terms of market reach, business strategy, and business focus
Technology adoption and future investments by clubs in major leagues in North America
Stakeholders’ insights and key trends (current and future) of the market
Source: Infoholic Research LLP
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