Sports Analytics Market to be Worth $6.34 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Nov. 2, 2022 /PRNewswire/ -- The global sports analytics market size is expected to reach USD 6.34 billion by 2030, registering a compound annual growth rate (CAGR) of 27.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing preference for data in decision making by various associations and organizations is expected to fuel the market growth.

Key Industry Insights & Findings from the report:

• The football segment is expected to witness the highest CAGR growth during the forecast period in the sports segment, owing to the faster adoption of the latest technologies and heavy investments done by the teams and associations in the sports analytics market.
• In the analysis segment, the On-Field analysis segment is projected to witness the highest CAGR growth in the forecast period, owing to the increasing implementation of sports analytics solutions for Health Assessment, Video Analysis, and players and team analysis in the sports industry.
• The software segment is expected to experience the highest growth in the forecast period, owing to the increased popularity of cloud-based sports analytics software, which provides flexibility and accessibility.

Read 171-page full market research report, "Sports Analytics Market Size, Share & Trends Analysis Report By Component (Software, Service), By Analysis Type (On-field, Off-field), By Sports (Football, Cricket, Basketball, Baseball), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Sports Analytics Market Growth & Trends

The managers and coaches use sports analytics solutions to gain multiple parameters, in-depth analysis, and the players' performance and design training sessions using collected insights. The solutions offer predictive analysis to study the physical parameters of players to prevent injuries that might happen in the future.

The sports industry produces large volumes of information in raw data that does not provide clear insights. However, if the data is processed further, it can provide valuable insights about the entire team and individual players. The sports analytics solutions help analyze the raw data and provide essential insights in real-time using graphical interfaces. The sports analytical tool helps to analyze the data such as the history of the opponents, line-up of players, win and loss records, and various player metrics, including distance covered, speed, stamina, acceleration, and energy levels. Moreover, insights can also be shared with managers, coaches, and fantasy gaming applications.

The leading associations and teams have already implemented sports analytical solutions and have hired professional analysts to improve the team and individual performance by obtaining valuable insights and gaining a competitive edge over opponents on and off the field. The associations such as National Basketball Association (NBA), Royal Spanish Football Federation, German Football Association, and many others have already deployed analytical tools to determine the results of future game events.

Teams have also adopted sports analytics solutions to analyze the players' fitness, overall performance, and engagement with fans. For instance, in December 2021, TRAM Barcelona Open and wheelchair tennis partnered with IBM Corporation. The partnership has helped TRAM Barcelona Open elevate its status in International Tennis Federation by enhancing the overall tournament experience, improving brand visibility, and increased audience engagement by using IBM cloud connect and IBM Watson Assistant, which are used in numerous other tournaments like the US Open and Wimbledon.

Sports Analytics Market Segmentation

Grand View Research has segmented the global sports analytics market based on component, analysis type, sports, and region:

Sports Analytics Market - Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software
• Service

Sports Analytics Market - Type Outlook (Revenue, USD Million, 2018 - 2030)

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

Sports Analytics Market - Outlook (Revenue, USD Million, 2018 - 2030)

• Football
• Cricket
• Baseball
• Basketball
• Rugby
• Others

Sports Analytics Market - Regional Scope (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa (MEA)

List of Key Players in the Sports Analytics Market

• Agile Sports Analytics, LLC
• Catapult
• ChyronHego Corporation
• Deltatre
• Experfy Inc.
• Genius Sports Group
• IBM Corporation
• Oracle Corporation
• SAP SE
• SAS Institute Inc.
• Sportradar AG
• Stats Perform

Check out more related studies published by Grand View Research:

• Sports Technology Market - The global sports technology market size is estimated to reach USD 55.14 billion by 2030, registering a CAGR of 19.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. In recent years, professional sports organizations have been using new technologies like smart stadiums, sports data analytics, wearable gadgets, and digital signage to engage spectators, improve team performance, and create smart infrastructures. The increase in the number of sporting events worldwide has made smart stadiums one of the most important global trends.
• Advanced Analytics Market - The global advanced analytics market size is expected to reach USD 189.56 billion by 2030, expanding at a CAGR of 21.1% from 2022 to 2030, according to a new report published by Grand View Research, Inc. The market growth can be attributed to the increasing demand for advanced analytical solutions by companies across the retail, IT & telecom, and BFSI sectors, among others. These solutions help to process large volumes of data and determine fraudulent activities, thus ensuring data protection.
• Data Monetization Market - The global data monetization market size is expected to reach USD 7.34 billion by 2027, registering a CAGR of 24.1% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Data monetization is a strategy used by several organizations to increase their revenue. It is the process of utilizing data to obtain quantifiable economic benefits. There are two types of data monetization techniques, direct data monetization, and indirect data monetization.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg