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

Report Overview

The global sports analytics market size was valued at USD 2.73 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 22.3% from 2023 to 2030. The increasing importance of on-field data to analyze team performance, track individual players, monitor injuries, and optimize the training curriculum of individual players is expected to drive the demand for sports analytics solutions in the coming years. Team managers have started comparing off-field and on-field data of individual players to formulate strategies, team selection processes, and player lineups in the game. The increased emphasis on real-time data to organize training sessions and realize strategic developments in games by managers is expected to drive further market growth.

Continuous technological advancements are enhancing the market demand for sports analytics further. Managers rely on statistics and data to formulate game plans to achieve in-game success through data analytics. These advanced analytical solutions play a crucial role in building in-game strategies, as they provide managers, stakeholders, coaches, and players with solutions that generate valuable insights on various parameters of the overall team and the individual players. These solutions help managers gain data about players, as well as understand data on weather and pitch conditions to formulate a better strategy.

Several new and established analytics companies are seeking opportunities to enter the sports domain and take profound initiatives. For instance, in March 2023, prominent sports data and analytics company SIS partnered with ReSpo.Vision. As a part of this deal, the latter will provide advanced soccer analytics data based on broadcast tracking technology to SIS. In addition, the companies will launch new products to automate and improve data collection, tracking, and development of cutting-edge metrics for soccer.

Traditionally, game results depended solely on players and their abilities. However, technological developments in big data, AI, and machine learning (ML) have initiated a shift in sports analytics patterns. The algorithms of this software analyze aspects such as performances in overseas conditions and home grounds, opponents, and game conditions, and recommend the best suitable players for specific situations. Moreover, support vector machines and deep neural networks help coaches and managers determine winning probabilities and combinations.

On the other hand, the clustering algorithm targets particular groups to help increase the fan base through fan management analysis. Big data analytics improves team efficiency and raises revenue through merchandising, sponsorships, media rights, and ticket sales. The analytical data is widely used in fantasy gaming applications to showcase player information and individuals while selecting players to get money rewards. The increasing use of sports analytics solutions in fantasy gaming is expected to impact the market positively.

The COVID-19 pandemic negatively affected the global sports industry. The outbreak led to the postponement of major sports events such as the UEFA Euro 2020, the Olympic Games, and the ICC Men's T20 Cricket World Cup, among others. The sports industry suffered heavy losses resulting in budget cuts on player compensations and spending on technology. However, the market witnessed signs of recovery in 2021 due to the resumption of sporting events and is expected to expand positively in the coming years.

Component Insights

The software segment dominated the market for sports analytics in 2022 with a revenue share of around 61.0%. Software applications such as pre/post-game analysis, real-time predictive analysis, motion/video analysis, and data visualization produce sports analytical data. Marketers are offering customized sports analytics software depending on its desired use for teams and individuals. Developments in AR/VR, biometrics, 2D/3D imaging, Big Data analytics, and video-based sensing have transformed the software segment. These technologies are now effectively used in video analysis, player tracking, and motion analysis software.

Managers leverage software applications to optimize their marketing and advertising campaigns. For instance, the American professional baseball team, The Texas Rangers, uses sports management software by Tableau Software, which has provided a complete view of all operations in one software, including real-time merchandise and ticket sales, promotional activities, in-stadium food & beverage sales, and game attendance.

The services segment is expected to register a substantial growth rate of over 19.0% from 2023 to 2030. The services involved in sports analytics include technology consulting and data analysis, predictive forecasting and analysis, data governance, API integration, and maintenance. Various organizations and sports teams are approaching service providers to focus on their core activities and scale their growth by generating actionable insights.

Analysis Type Insights

The on-field segment dominated the market for sports analytics in 2022 with a revenue share of over 61.0%, owing to the increasing use of on-field analytical data such as health assessment, player & team analysis, and video analysis. The adoption of on-field data analysis solutions in sports, including football, cricket, rugby, and swimming, has increased considerably in recent years.

For instance, SAP SE offered TSG 1899 Hoffenheim, a German Bundesliga team, the ability to enable digital transformation for the club using SAP's new solutions. The software has helped football coaches and managers visualize formations, plays, and strategies dynamically. Increasing demand for health assessment, player & team analysis, and video analysis requirements by sports teams is expected to fuel the growth of the on-field segment during the forecast period.

On-field data metrics help teams decide how to improve in-game strategies, nutrition plans, and other methods for raising their athletes’ level of performance. Player & team analysis and health assessment are expected to show significant growth during the forecast period, owing to an increase in requirements to improve performance and keep players safe from injuries.

The off-field segment is estimated to record a CAGR of nearly 20.0% from 2023 to 2030. Off-field analytics helps strengthen a team's or club's operational efficiency and business. Off-field analytics solutions are majorly used by different stakeholders, fantasy gaming, and betting applications to increase profitability by making the right decisions. Sports enthusiasts can use this information in betting and fantasy gaming applications. An increasing trend among sports fans to understand sports dynamics is expected to result in a significant CAGR for this segment over the forecast period in the market.

Sports Insights

The basketball segment accounted for a revenue share of nearly 18.0% in the sports analytics market in 2022 and is expected to witness considerable growth over the forecast period. Basketball teams use high-tech data analytics solutions to formulate game plans and strategies, avoid player injuries, and scout for promising players. Team coaches and managers also use data analytics solutions to evaluate opponent teams, increase the probability of winning a game, and decide team compositions.

For instance, sports data analytics firm Noah Basketball has helped various NBA teams, including the New York Knicks, Los Angeles Lakers, Toronto Raptors, and Golden State Warriors, to analyze the performance and shooting arcs of basketball players by providing Noah's basketball tracking system. The demand for data analytics is expected to increase in this sport during the assessment period.

The football segment is expected to register a CAGR of more than 24.0% over the forecast period. The increasing popularity of football across European countries such as the U.K., Germany, and Spain is attributed to the segment's growth during the projection period. Leading football leagues in European countries, such as the Premier League, UEFA Champions League, and the Bundesliga emphasize the use of data analytics software to plan strategies and player lineups.

Data analytics applied in American football games helps collect valuable insights such as player performance, passing trends, acceleration, and the number of touchdown passes. The significant number of benefits provided by these solutions in American football, along with the heavy investments made by football teams in data analytics solutions to gain a competitive edge, are expected to drive the segment's growth.

End-user Insights

The sports betting segment accounted for a dominant revenue share of over 49.0% in the market for sports analytics in 2022. Moreover, it is expected to grow significantly over the forecast period with the increasing adoption of sports analytics in this area. Analytics plays a vital role in sports betting by providing immense information about players, teams, and other factors that affect the outcome of a game. This, in turn, allows the bettors to make informed decisions and increase their chances of success.

Moreover, analytics help identify patterns and trends in a player’s or team’s performance, enabling the bettors to predict future performances. The advancements in technology, availability of vast amounts of data, and integration of machine learning and artificial intelligence in sports analytics will favor segmental growth in the coming years.

The media organizations segment is expected to register a CAGR of more than 24.0% from 2023 to 2030. Sports analytics tools play a crucial role for these organizations as they help analyze content performance, audience behavior, and market trends. They also offer insights into viewers’ preferences, the effectiveness of media campaigns, and engagement metrics. By analyzing the data, media companies can make informed decisions about content creation, advertising placements, and distribution strategies, thereby allowing them to optimize their strategies regarding audience retention and revenue generation.

Regional Insights

The North American market for sports analytics captured a significant revenue share of over 28.0% in 2022. The increasing demand for video analysis and AI in sports and rising investments in the latest technologies by organizations such as the National Football League (NFL), Major League Baseball (MLB), and National Basketball Association (NBA) in the region are factors expected to drive the North American market. Leading companies in the market for sports analytics, including Tableau Software, SAP SE, and IBM Corporation, are investing heavily in research and development to cater to client needs and gain a competitive edge.

The Asia Pacific region is expected to witness a significant growth rate of more than 24.0% over the forecast period. Countries including Japan, India, and China are anticipated to experience strong demand for these solutions due to the rapidly improving sports culture in these countries. Factors such as the emergence and popularity of various sporting leagues, aggressive investments in sports, and digitalization are expected to play a crucial role in the regional market growth.

Key Companies & Market Share Insights

Key players in the market such as Oracle Corporation, IBM Corporation, Sportradar AG, SAP SE, and Tableau Software utilize their data analytics expertise to serve the increasing demands of customers. For instance, IBM Corporation offers paramount modern solutions for advanced smart playgrounds and stadiums. The competition between small and midsized companies is intensifying, and thus marketers are focusing on mergers, acquisitions, and strategic partnerships to sustain and expand their business.

For instance, Sportradar AG, in June 2021, announced a 10-year global partnership with the National Hockey League (NHL). The partnership has allowed Sportradar AG to distribute NHL's official statistics and data to technology & sports betting companies, and media. The partnership also provides Sportradar the rights to supply sports betting operators with live broadcasts of NHL games through the providers' digital betting platforms available in authorized markets.

In March 2023, Catapult Group International Limited, an Australian sports technology company that provides performance analytics, launched a new athlete monitoring solution, Vector T7. The device is compact in comparison to its predecessor, with functions that deliver accurate and comprehensive player data for indoor settings. It is a GPS-tracking device used by sports teams and athletes to track performance and movement data during training and competition. The device is worn on the upper back of the athlete’s jersey and is designed to be lightweight and unobtrusive.

In February 2023, Genius Sports Limited partnered with XFL, an American football minor league. The partnership aimed to provide Genius Sports the opportunity to become the official betting data distribution partner and free-to-play provider of the league. The collaboration also has been aimed at collecting and distributing live data from all XFL games, which is used by media partners, broadcasters, sportsbooks, and other stakeholders to enhance fan experience and create new betting opportunities. Some of the prominent players in the global sports analytics market include:

• Agile Sports Analytics, LLC

• Catapult Sports

• 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

Global Sports Analytics Market Report Segmentation

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 2018 to 2030. For this study, Grand View Research has segmented the global sports analytics market report based on component, analysis type, sports, end-user, and region:

• Component Outlook (Revenue, USD Million, 2018 - 2030)

  • Software

  • Service

• Analysis Type Outlook (Revenue, USD Million, 2018 - 2030)

  • On-field

    • Player & Team Analysis

    • Video Analysis

    • Health Assessment

  • Off-field

    • Fan Engagement

    • Ticket Pricing

• Sports Outlook (Revenue, USD Million, 2018 - 2030)

  • Football

  • Cricket

  • Baseball

  • Basketball

  • Rugby

  • Others

• End-user Outlook (Revenue, USD Million, 2018 - 2030)

  • Sports Teams

  • Sports Leagues/Associations

  • Individual Players/Coaches

  • Media Organizations

  • Sports Betting

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Latin America

    • Mexico

    • Brazil

  • Middle East & Africa (MEA)