Sports Analytics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.87 Billion |
| Market Size (2029) | USD 13.93 Billion |
| CAGR (2024 - 2029) | 30.04 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Sports Analytics Market Analysis
The Sports Analytics Market size is estimated at USD 2.87 billion in 2024, and is expected to reach USD 13.93 billion by 2029, growing at a CAGR of 30.04% during the forecast period (2024-2029).
- Analytics have transformed the way professional sports franchises assess and manage the daily operations of their athletes. Companies are seeking to take advantage of the increasing use of data and are developing technology to help give teams a competitive advantage over their opponents.
- Due to the growing demand for monitoring and tracking player data, the number of sport wearable devices in the sports industry is increasing. Consequently, a massive amount of data on the players and their teams is generated, which can be utilized to gain insights into a player's performance and fitness variables, such as heartbeat, speed, and acceleration.
- Further, the growing awareness regarding AI and its capabilities to analyze actions automatically has increased the market for sports analytics. AI is increasingly being used to improve the performance of players.
- The growth of health assessment solutions, driven by fitness bands and other wearable devices, has resulted in a massive rise in the volume of data to be examined. Furthermore, the availability of low-cost and high-end computing solutions and the rising demand for complex streaming analytics are expected to expand the market.
- The initial expenditures for sports analytics solutions and device expenses are significant due to intensive R&D activity and challenges associated with data analysis via an embedded device. The cost of maintenance and data is also essential. Furthermore, the expensive cost of hiring a technical expert to analyze sports data and educate staff hampers market growth. The prices of sports analytics solutions are rising due to preventive efforts and equipment maintenance. This, in turn, limits the ability of various end users to invest in these sports technology systems, limiting their use and the growth of the sports analytics market.
- The global sports sector was affected by the COVID-19 pandemic. The spread of the coronavirus led to the postponement of major sports events such as the UEFA Euro 2020, the Olympic Games, the ICC Men's T20 Cricket World Cup, and many more, which hampered the sports analytics market. The sports sector experienced significant losses, resulting in budget cuts for player remuneration and technological expenditures. However, the market showed indications of recovery in 2021 due to the restart of sporting events.
Sports Analytics Market Trends
Football Sport is Expected to Hold Significant Market Share
- The sports analytics market encompasses a wide range of sports, including football. Football is one of the most popular sports globally, attracting billions of fans and generating massive amounts of data. Football teams use analytics to analyze players' performance individually and collectively. Various metrics, such as passes completed, distance covered, shots on target, and defensive actions, are attracted and analyzed to evaluate players' effectiveness and identify areas for improvement.
- Analytics provides insights into team tactics, formations, and strategies. By analyzing data from matches and training seasons, coaches and analysts can assess the effectiveness of different approaches, make data-driven decisions on game plans, and adapt strategies based on the strengths and weaknesses of the opposition.
- Analytics plays a vital role in player recruitment and scouting processes. Clubs analyze player statistics, such as goals, assists, pass completion rates, and other performance indicators, to identify potential transfer targets and assess their suitability for the team's playing style.
- The integration of AI into the football sports segment of the sports analytics market has brought about significant advancements in data analysis, decision-making processes, and fan engagement. The ability to process a vast amount of data and extra meaningful insights has revolutionized how teams, players, and fans understand and interact with the game of football.
- Football clubs in various countries utilize AI algorithms to analyze player performance, track insights, and optimize game strategies. According to IBM, China had the highest rate of exploring and deploying artificial intelligence (AI) globally in 2022. It was followed closely by India and Singapore. This lead was also marked when accounting only for deploying AI in organizations in China, with India following. Both nations had a nearly 60 percent deployment rate. However, when accounting only for exploration, Canada and the United States were the leading countries.
Asia-Pacific is Expected to be the Fastest Growing Market
- Asia-Pacific witnessed a rise in the number of leagues and investments in sports by public and private entities. With a large number of fans and a wide range of big sporting events every year, most athletes are investing in electronic devices and advanced analytics solutions to get an edge over their competition.
- The adoption of sports analytics services is also becoming standard in most parts of the region, and better sports electronic devices may be needed for enhanced functioning. The growth of the studied market is expected to be sped up by the widespread use of technology and the rise of digitalization factors like wearables and social media.
- The current trend of a considerable number of sports being played and related events being organized in countries such as Australia, India, China, and Japan, is expected to increase the adoption rate of sports electronic devices.
- Various players in the region are collaborating with research institutes to offer advanced analytics tools in many sports. For instance, in August this year, IIT Madras researchers collaborated with the Inspire Institute of Sports to create advanced boxing analytics software to assist India in winning more medals at the 2024 Olympics.
- Domestic leagues like the Chinese Basketball Association (CBA) and the Chinese Super League are trying to raise the required qualifications for major events like the 2022 Winter Olympics. On the other hand, international teams and leagues are busy setting up foundations in China, which could affect the growth of the sports analytics market in a roundabout way over the next few years.
Sports Analytics Industry Overview
The sports analytics market is highly fragmented, with the presence of major players like IBM Corporation, SAP SE, SAS Institute Inc., Opta Sports, and Trumedia Networks. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain a sustainable competitive advantage.
- In October 2023, Zelus Analytics, one of the prominent sports analytics companies renovating player evaluation and in-game decision-making, proclaimed today that it has positively accomplished the first tranche of its Series A. The phase includes contributions from Team-worthy Undertakings, Gametime Capital, Billy Beane, Kevin Durant, Rich Kleiman's 35V, and a few others who join present stockholder RedBird Capital.
Sports Analytics Market Leaders
-
IBM Corporation
-
SAP SE
-
SAS Institute Inc.
-
Opta Sports
-
Trumedia Networks
*Disclaimer: Major Players sorted in no particular order
Sports Analytics Market News
- October 2023, Texas A&M Athletics Sports Science announced that it has entered into an arrangement with Gemini Sports Analytics to offer the Aggies' staff Gemini’s AI software platform built-for sports that is projected to empower the Aggies to access prognostic analytics in addition to metrics to aid support student-athletes. The Gemini application authorizes stakeholders by offering predictive data analytics to the end users, cumulative interdisciplinary professionals' efficiency, and permitting high-level decision-makers to make game-changing choices faster.
- February 2023: Gemini Sports Analytics is an AI and Automated Machine learning tool, and SIS (Sports Info Solutions) announced a partnership to pre-integrate SIS data into the Gemini app. Along with the data integration, the two companies would leverage their complementary offerings and develop solutions for their current and future clients. Gemini's mission is to make it faster and easier for sports organizations across the globe to use predictive analytics in their decision-making processes around recruitment, player development, personnel, health and performance, and other management choices.
Sports Analytics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Impact of COVID-19 on the Market
4.4 Technology Snapshot
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Adoption of Big Data Analytics, AI and ML Technologies
5.1.2 Increase in Investments in the Newer Technologies
5.2 Market Restraints
5.2.1 Lack of Awareness About the Benefits of Sports Analytics Solutions
6. MARKET SEGMENTATION
6.1 Sport
6.1.1 Football
6.1.2 Cricket
6.1.3 Hockey
6.1.4 Basketball
6.1.5 American Football
6.1.6 Other Sports
6.2 By Geography
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 SAP SE
7.1.3 SAS Institute Inc.
7.1.4 Opta Sports
7.1.5 Trumedia Networks
7.1.6 Oracle Corporation
7.1.7 Tableau Software Inc.
7.1.8 Stats LLC
7.1.9 Catapult Group International Ltd
7.1.10 Sportsradar AG
7.1.11 Emerging Companies
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sports Analytics Industry Segmentation
Sports analytics is the management of organized historical data, the application of predictive analytic models that use that data, and the use of information systems to update decision-makers and allow them to help their organizations in gaining a competitive advantage on the field of play.
The Sports Analytics Market is segmented by Sports (Football, Cricket, Hockey, Basketball, American Football), by Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| Sport | |
| Football | |
| Cricket | |
| Hockey | |
| Basketball | |
| American Football | |
| Other Sports |
| By Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Sports Analytics Market Research FAQs
How big is the Sports Analytics Market?
The Sports Analytics Market size is expected to reach USD 2.87 billion in 2024 and grow at a CAGR of 30.04% to reach USD 13.93 billion by 2029.
What is the current Sports Analytics Market size?
In 2024, the Sports Analytics Market size is expected to reach USD 2.87 billion.
Who are the key players in Sports Analytics Market?
IBM Corporation, SAP SE, SAS Institute Inc., Opta Sports and Trumedia Networks are the major companies operating in the Sports Analytics Market.
Which is the fastest growing region in Sports Analytics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Sports Analytics Market?
In 2024, the North America accounts for the largest market share in Sports Analytics Market.
What years does this Sports Analytics Market cover, and what was the market size in 2023?
In 2023, the Sports Analytics Market size was estimated at USD 2.21 billion. The report covers the Sports Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sports Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the challenges facing the Sports Analytics Market?
Major challenges faced by the Sports Analytics Market are: a) Data privacy concerns b) High cost of advanced analytical tools c) Need for skilled professionals to interpret data insights
Sports Analytics Industry Report
The sports analytics industry is experiencing significant market growth, driven by the adoption of artificial intelligence, Big Data, and machine learning across various sports. This expansion is largely attributed to the need for enhanced performance analysis, player and team valuation, and fan engagement. Football and other sports segments are leveraging analytics for optimization, contributing to the overall market value.
Despite challenges such as the lack of awareness and the requirement for skilled professionals, the shift towards cloud-based solutions and the integration of smart wearables and video analytics are propelling the industry forward. North America leads in market share, thanks to technological advancements and the presence of key market leaders.
The industry analysis highlights the promising market trends and the increasing use of connected technologies, which are expected to drive further innovation. The market forecast suggests a positive outlook for the sports analytics industry, with substantial growth rate and market predictions indicating continued expansion.
Industry reports and market data from Mordor Intelligence™ provide comprehensive insights into the market segmentation and market overview, offering valuable industry information and industry research. The industry outlook remains optimistic, supported by industry statistics and market review that underline the market's potential.
For a detailed examination of the sports analytics market, including industry size and industry sales, interested parties can download a free report PDF. This report example includes in-depth market analysis and market predictions, making it an essential resource for research companies and stakeholders looking to understand the market dynamics and future prospects.
Sports Analytics Market Report Snapshots
