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, 2021 - 2028

Report Overview

The global sports analytics market size was valued at USD 885.0 million in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 21.3% from 2021 to 2028. Over the last few years, the coaching staff of teams has realized the importance of on-field data in evaluating team performance, optimizing the training curriculum, tracking individual players, and monitoring injuries at an individual level. On the other hand, team managers have realized that on-field data can be combined with off-field data and used for streamlining the team selection process, deciding players’ lineup, and formulating in-game strategies. The growing preference among team managers and coaches to utilize real-time data to formulate gaming strategies and organize training sessions is expected to drive the demand for sports analytics solutions.

Conventionally, the outcomes of the game used to depend entirely on the individual players and their capabilities. However, as technologies are advancing, analytics is also playing a vital role in utilizing and analyzing data and statistics, formulating game strategies, and increasing the chances of winning the game based on data and statistics. Analytical solutions can potentially help in building a resilient in-game strategy. The use of analytical data provides coaches, managers, players, and other stakeholders with a platform that can aid in gaining insights on various parameters of every individual player as well as in evaluating the overall team performance. Analytical data can also help team managers in incorporating the pitch conditions and weather details in the game tactics.

Advances in Machine Learning (ML), Artificial Intelligence (AI), and Big Data have triggered a paradigm shift in sports analytics. ML algorithms can particularly recommend players for certain positions depending upon their performances on home grounds, overseas performances, game conditions, and opponents they are facing. On the other hand, deep neural networks and support vector machine models can help team managers in formulating winning combinations and gauging their probabilities. Similarly, a clustering algorithm can be effective in fan management analysis and can be particularly used in targeting specific audience groups to run marketing campaigns and increase the fan base. Lastly, Big Data analytics can help effectively in driving team efficiency and increasing revenues through various sources, such as merchandise and ticket sales, media rights, and sponsorships.

The use of analytical data has given a new dimension to the sports betting and fantasy gaming industries. This data can be used in fantasy gaming apps to display information about players and the team. The data can also be used by the person playing the fantasy game while selecting players of his own choice and getting monetary rewards. The rising adoption of analytical data in fantasy gaming is expected to drive the growth of the market over the forecast period.

The outbreak of the COVID-19 pandemic had taken a severe toll on the global sporting ecosystem in the latter half of 2020. Prominent sporting events, such as the Olympic Games, UEFA Euro 2020, ICC Men’s T20 Cricket World Cup tournaments, etc. were postponed. As a result, many organizations introduced different types of content, such as virtual live entertainment, and Esports, among others. Nevertheless, the revenues of the teams plummeted significantly in 2020 either due to the postponement of the events or due to a looming preference for closed-door matches. According to the European Club Association (ECA), football clubs in Europe had to confront a loss of around USD 4.5 billion in revenues due to the outbreak of the pandemic. Hence, the teams are now cutting down other budgets, such as players' remunerations and spending on technology. As a result, overall revenues of the market for sports analytics plummeted by 1.4% in 2020. However, the market is expected to show signs of recovery in 2021 as prominent tournaments have resumed and crowds are permitted to attend these events in some parts of the world.

Component Insights

The software segment dominated the market in 2020 with a market share of over 57%. A myriad of software applications, including real-time predictive analysis software, pre/post-game analysis software applications, data visualization, and motion/video analysis software are used for generating sports analytical data. Vendors are also offering tailored analytics software depending upon the changing needs of the teams and individual athletes. Advances in Virtual Reality/Augmented Reality (VR/AR), 2D/3D imaging, biometrics, video-based sensing, and Big Data analytics have transformed the software segment entirely. These technologies are now being used effectively in motion analysis software, player tracking software, and video analysis solutions.

Team managers also prefer software applications for optimizing their advertising and marketing campaigns. For instance, the front-office team of Texas Rangers, a professional baseball team based in the U.S, is using Tableau Software, LLC’s sports management software, which provides a holistic view of all the operations, including real-time ticket and merchandise sales, in-stadium food & beverage sales, promotional activities, and game attendance.

The services in this domain include data analysis and technology consulting, data governance, predictive analysis and forecasting, maintenance, and API integration. Various teams or associations are approaching service providers for these services to scale their growth and focus on the core activities. The growing need for a skilled workforce with expertise in generating actionable insights is particularly driving the demand for dedicated analysts. Subsequently, several universities and colleges have started offering separate courses in sports analytics as part of their curriculums.

Analysis Type Insights

The on-field segment dominated the market in 2020 with a revenue share of over 55% and is expected to continue dominating the market over the forecast period. The growth of the segment can be attributed to the increased adoption of in-field analytical data in outdoor games, such as rugby, cricket, football, and swimming. For instance, in May 2019, the Board of Control for Cricket in India (BCCI) collaborated with STATSport Group, a sports technology company based in the U.K., to implement GPS-based performance tracking and analysis technology. The on-field segment has been further segmented into player & team analysis, video analysis, and health assessment. The player & team analysis segment is expected to exhibit the highest CAGR over the forecast period owing to the strong emphasis tech-savvy coaches and players are putting on analytical data.

Off-field analytics aids in improving the operational efficiency and business of teams or clubs. The off-field analysis can be used by different stakeholders in the team to make decisions that can potentially increase profitability. This data can also be used by aficionados in betting and fantasy gaming applications. The off-field segment is expected to register a considerable CAGR over the forecast period as a result of the growing trend among sporting enthusiasts toward understanding the game dynamics.

Sports Insights

The football segment is expected to register a CAGR of over 24% over the forecast period. The growth can be attributed to the immense popularity of football across the world, especially in European countries, such as Germany, Spain, and the U.K. Teams participating in leading football leagues such as the UEFA Champions Leagues, Premier League, and Bundesliga are aggressively using analytical data for deciding their player lineups and game strategies. Implementing analytics in football can help in gaining detailed insights on players’ performance, acceleration, passing trends, and the number of touch-down passes, among others. Football teams remain keen on investing in this field to gain a competitive advantage in the game, thereby driving the growth of the market.

The basketball segment is expected to exhibit a considerable growth rate over the forecast period. Basketball teams are using high-tech analytics for formulating winning strategies, predicting and avoiding player injuries, and scouting. Team managers and coaches are also using analytical data for deciding team compositions, evaluating opponent teams, and increasing the probabilities of winning the game. The demand for analytical data is expected to gain traction as the trend continues over the forecast period.

Regional Insights

North America accounted for a market share of over 28% in 2020. The regional market is expected to witness expansion on account of the growing use of AI technology, rising demand for video analysis, and aggressive investments in the latest technologies by associations, such as the National Basketball Association (NBA), Major League Baseball (MLB), and National Football League (NFL). North America is home to prominent companies in this field, such as IBM Corporation, SAP SE, and Tableau Software, LLC, which are investing aggressively in research & development activities to develop advanced analytics solutions.

Asia Pacific is anticipated to register a strong growth rate over the forecast period. Countries, such as China and Japan, which have developed strong sporting culture, are expected to contribute significantly to the growth of the regional market. Continued digitalization, aggressive investments in sports, and the emergence of various sporting leagues are expected to contribute to the growth of the regional market. The establishment of technology hubs and an expanding sporting ecosystem in developing countries, such as India, is also expected to play a vital role in the growth of the regional market.

Key Companies & Market Share Insights

Key players in the market include IBM Corporation, Oracle Corporation, SAP SE, Sportradar AG, Tableau Software, LLC, and SAS Institute Inc. These companies are leveraging their expertise in analytical technologies to help their customers in utilizing the large volumes of data generated during games. IBM Corporation offers the maximum number of technologically advanced solutions for developing smart stadiums and playgrounds.

Competition in the global sports analytics market is intensifying as several small- and medium-sized companies are making a foray into the market. As such, key players are pursuing various initiatives, such as strategic partnerships and mergers and acquisitions, for business expansion. For instance, in November 2020, Stats Perform signed a multi-year agreement with New Zealand Cricket to collect, analyze, and deliver ball-by-ball match data to the New Zealand team and broadcast it to media, fantasy, and betting operators. Similarly, in July 2020, Sportsradar AG announced a partnership with Badminton Europe, the governing body for badminton tournaments taking place across Europe. The agreement envisages Sportsradar becoming an exclusive data partner for all the badminton competitions across the region. Some of the prominent companies operating in the global sports analytics market are:

• 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

Sports Analytics Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global sports analytics market report based on component, analysis type, sports, and region:

• Component Outlook (Revenue, USD Million, 2017 - 2028)

  • Software

  • Service

• Analysis Type Outlook (Revenue, USD Million, 2017 - 2028)

  • On-field

    • Player & Team Analysis

    • Video Analysis

    • Health Assessment

  • Off-field

    • Fan Engagement

    • Ticket Pricing

• Sports Outlook (Revenue, USD Million, 2017 - 2028)

  • Football

  • Cricket

  • Baseball

  • Basketball

  • Rugby

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    •  Germany

    • France

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)