Sports Analytics Market Size Growing at 18.6% CAGR Set to Reach US$ 3,097.8 Million by 2028

The global sports analytics market size reached US$ 1,085.4 Million in 2022. By 2028, it will reach a value of US$ 3,097.8 Million, CAGR of 18.6% (2023-2028).

SHERIDAN, WYOMING, USA, February 20, 2023 /EINPresswire.com/ -- How Big is the Sports Analytics Market ?

The latest research study “Sports Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global sports analytics market size reached US$ 1,085.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,097.8 Million by 2028, exhibiting a growth rate (CAGR) of 18.6% during 2023-2028.

What is Sports Analytics ?

Sports analytics is the analysis of sports data with statistical and mathematical principles to analyze various components of sports, such as business operations, player performance, and recruitment. Some commonly adopted sports analytics techniques comprise data science, machine learning (ML), convolutional neural networks (CNN), logistic regressions, hypothesis testing, and historical data analysis. The data offers competitive advantages to individuals and teams participating in event enterprises and competitions. It also helps evaluate the strengths and weaknesses of opponents, reduce operating costs, increase overall income, and ensure high returns on investments (ROIs). As a result, sports analytics is widely adopted by sports media, wearable technology, training technology companies, sports programs, and professional college across the globe.

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Sports Analytics Market Trends and Drivers:

The market is primarily driven by the widespread popularity of sports among individuals across the globe. In addition, the rising importance of on-field data to analyze team performance, monitor injuries, track individual players, and optimize the training curriculum of players is contributing to the market growth.

Moreover, the escalating demand for improved wearable devices amongst athletes to gain insights into performance and fitness variables, such as heartbeat, speed, and acceleration, and the sudden outbreak of the coronavirus (COVID-19) pandemic represents another major growth-inducing factor.

Besides this, continual technological advancements and the adoption of Artificial Intelligence (AI), big data, machine learning (ML), and the internet of things (IoT) to measure the patterns in a sport are providing a positive thrust to the market growth. Furthermore, extensive research and development (R&D) activities for improving wireless sensor technologies and real-time analytics are creating a positive market outlook.

Global Sports Analytics Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Sports Analytics Companies:

Chyronhego Corporation, Experfy Inc., HCL Technologies, International Business Machines Corporation, iSportsAnalysis, Oracle Corporation, Qualitas Global Services, SAP SE, Sas Institute Inc., Sportradar AG, Stats Perform and Tableau Software LLC (Salesforce.com Inc.).

The report has segmented the market on the basis of region, component, analysis type and sport.

Breakup by Component:
• Software
• Service

Breakup by Analysis Type:
• On-field
o Player and Team Analysis
o Video Analysis
o Health Assessment
• Off-field
o Fan Engagement
o Ticket Pricing

Breakup by Sport:
• Football
• Cricket
• Hockey
• Basketball
• American Football
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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