IBM Corporation - SAP SE - SAS Institute Inc. - Opta Sports - Trumedia Networks - Oracle Corporation - Tableau Software Inc. - Stats LLC - Catapult Group International Ltd. - Sportsradar AG - Emerging Companies [Report Description] The Sports Analytics Market was valued at USD 1.05 billion in 2020 and is anticipated to reach USD 5.11 billion by 2026, growing at a CAGR of 30.13 percent over the forecast period (2021 Among its many important functions, sports analytics provides tools for evaluating player fitness and team performance, competitive analysis, social media analysis, and business analysis. It has resulted in the creation of sophisticated structures for analyzing numbers to predict previous outcomes, win-loss records, and opponent histories in order to ascertain the outcome of a forthcoming sporting event.
Highlights The sports industry is seeing an increase in the number of wearable devices due to the rising demand for player monitoring and tracking data. As a direct consequence of this, a significant amount of data pertaining to the players as well as the team is generated. This data is used to gain insight into fitness and performance variables pertaining to players, such as heart rate, speed, and acceleration.
The ever-increasing amount of data that needs to be analyzed has significantly increased as a result of the meteoric rise in health assessment solutions brought about by fitness bands and other wearable devices. The study's market is expected to expand due to the availability of low-cost and high-end computing solutions and the rising demand for analytics of complex data streaming.
However, the study's revenue growth will likely be hampered by the COVID-19 pandemic, primarily due to a slowdown in the sports industry, a major market driver. Most major international, regional, and national sporting events have been postponed or canceled to protect athletes' health, including marathons, football tournaments, athletics championships, basketball games, handball, ice hockey, and rugby.
Key Market Patterns
Football Records for the Biggest Offer in the Games Examination Market
Football without help from anyone else represents the biggest offer in the games examination market, attributable to expanded participation for football associations, like UEFA Champions Association, MLS, EPL, and ISL. weltfussball reports that 42.7 thousand people attended games in Germany's Bundesliga league in 2019.
Besides, groups and clubs cooperating with examination organizations is a critical pattern on the lookout. For instance, Opta, a leading provider of football sports data, has collaborated with numerous football leagues and clubs. Regardless of whether a player has a ball or not, Opta's analytics can determine every action of a player in a specific zone on the field.
In conclusion, it is anticipated that the adoption of analytics in these markets will rise as a result of the increasing level of competition, the requirement for improved decision-making in order to gain an advantage over their rivals, the requirement for the implementation of strategies for matches that take place on the field, as well as the need to get ticket inventory and social media influence off the ground.
Changes in Sports Dynamics and Higher Rates of Technology Adoption Drive Sport Analytics in North America The region's higher rates of technological adoption and changing market conditions are driving an increase in the use of sport analytics solutions there. Because cloud-based solutions offer advantages such as low cost, rapid scalability, easy access, and uninterrupted service, the demand for software that is provided on the cloud is increasing as organizations focus on reducing maintenance and upgrade costs.
Baseball and basketball leagues have the highest adoption rates of sports analytics solutions, particularly for player selection. Leagues are the primary users of these solutions. While American Football continues to be a significant market, several ice hockey clubs have recently begun making investments in analytics.
Superclubs are well-known because of their long track record of success. This success has increased their brand value, fan base, and ability to attract top players from all over the region, which in turn has increased investments and sponsorships. Analytics are seen as the next frontier in football by these elite clubs. Further, the rising cutthroat nature, need to further develop decision making to acquire an edge over their rivals, need for methodology execution, and online entertainment impact has supported the reception of investigation, dramatically.
A variety of behavioral metrics are used by the New England Patriots to retain season ticket holders. Their models, for instance, incorporate variables such as attendance at Gillette Stadium concerts or soccer games, purchases of team merchandise, special events attended by season ticket holders, and game attendance.
Landscape of Competition Major players with a better market presence dominate the sports analytics market, which is somewhat consolidated. Few of the major players currently hold the majority of the market's share. With a significant share of the market, these major players are concentrating on expanding their international customer base. In order to expand their market share and boost their profitability, these businesses are making use of strategic collaborative initiatives. In order to improve the capabilities of their products, the market players are also acquiring startups that are developing technologies for the sports analytics market.
June 2020: The next-generation sports analysis platform announced that it had raised an additional EUR 8.8 million from Hamburg-based startup Bepro. The startup will develop their football technology and expand internationally with the help of funds from Altos Ventures, Softbank Ventures, Saehan Ventures, Spring Camp, and Miraeasset Ventures."
