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, Rugby), By End-user, By Region, And Segment Forecasts, 2023 - 2030

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, Rugby), By End-user, By Region, And Segment Forecasts, 2023 - 2030

Sports Analytics Market Growth & Trends

The global sports analytics market size is estimated to reach USD 14.41 billion by 2030, registering an estimated CAGR of 22.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing preference for data in decision-making by associations and organizations is expected to fuel market growth. Sports managers and coaches use sports analytics solutions to gain insights on multiple parameters and in-depth analysis on player performance and design training sessions using collected insights. These solutions offer predictive analysis to study the physical parameters of players to prevent future injuries.

The sports industry generates large volumes of information in terms of raw data that do not provide clear insights. However, if the data is processed further, it can provide valuable insights about the entire team and individual players. Sports analytics solutions analyze the raw data and provide essential insights in real time using graphical interfaces. Sports analytical tools help analyze data such as opponent player history, player line-ups, and win-loss records, along with various other player metrics such as distance covered, speed, stamina, acceleration, and energy levels. The increasing significance of these insights for managers, coaches, and fantasy gaming applications is expected to open lucrative growth opportunities in the market for sports analytics in the coming years.

The increased adoption of sports data analytics among leading associations and teams is expected to positively influence market growth. Several major leagues and associations have implemented sports analytical solutions by hiring professional analysts to improve team and individual performances, using valuable insights from sports analytics and gaining a competitive edge over opponents, both on and off the field. Sports bodies such as the National Basketball Association (NBA), the Royal Spanish Football Federation, and the German Football Association, among several others, have already deployed analytical tools to analyze the results of future game events.

Teams have adopted sports analytics solutions to analyze player fitness, overall performance, and fan engagement. For instance, in February 2023, Sports Info Solutions (SIS) and Gemini Sports Analytics partnered to develop sports analytics solutions for their clients. Gemini Sports Analytics has created a sports-specific AI and automated machine learning technology that enables sports organizations to make decisions using predictive analysis. Sports Info Solutions offers sports data & analytics services to teams across the NBA, NFL, and MLB.

SIS plans to use Gemini's predictive analytics technology to help teams make effective game strategies and maximize player performance. Additionally, in October 2022, Veritone Inc., the creator of aiWARE, partnered with Stats Perform, a leading sports tech company that provides data and AI for real-time game updates. The collaboration aims to combine Veritone's synthetic voice AI technology and Stats Perform's trusted Opta sports data and bring it to a global platform.

Sports Analytics Market Report Highlights

• Football is predicted to expand at the fastest CAGR of 24.2% in the sports category over the forecast period, owing to the rapid adoption of the latest technologies and large expenditures made by teams and associations for sports analytics solutions
• Based on analysis, the on-field segment is anticipated to witness a growth rate of more than 23.0% over the projection period, owing to the increasing implementation of sports analytics solutions for health assessment, video analysis, and player & team analysis in the sports industry
• The software segment is expected to experience the highest growth rate during the forecast period in the market for sports analytics, owing to the increasing popularity of cloud-based sports analytics software, which provides flexibility and accessibility
• In terms of end-user, the media organizations segment is anticipated to expand at a significant CAGR of over 24.0% during the forecast period, owing to an increase in demand for sports analytics in these companies to make informed decisions about content creation, advertising placements, and distribution strategies
• North America has traditionally been the largest market for sports analytics, with the U.S. being the primary market in the region. However, other regions such as Europe and the Asia Pacific are also seeing significant growth in this space

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