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, 2022 - 2030

Report Overview

The global sports analytics market was valued at USD 889.4 million in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 27.1% from 2022 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 the sports analytics market in the forecast period. The team managers have compared off-field and on-field data of individual players to plan strategy, team selection process, and decide the lineup of players in the game. The increased emphasis on real-time data to organize training sessions and in various strategic developments of games by managers is expected to experience further growth in the market.

The advancements in technology have given significant importance to analytics. The managers rely on statistics and data to plan game plans to achieve success in the game through data analytics. These advanced analytical solutions play a crucial role in building in-game strategy as it provides managers, stakeholders, coaches, and players with a solution that generates valuable insights on various parameters of the overall team and the individual players. The solutions help managers gain data about players and provide data on weather and pitch conditions to plan a better strategy.

Traditionally, the game results depended solely on the players and their abilities. However, the technological developments in Big Data, Artificial Intelligence (AI), and Machine Learning (ML) have initiated a pattern shift in sports analytics. The algorithms of this software analyze aspects such as performances in overseas conditions and on home grounds, opponents, and game conditions and recommend the best suitable players for specific requirements. However, support vector machines and deep neural networks help coaches and managers to determine winning probabilities and combinations.

Furthermore, a 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 adversely affected the global sports industry. The outspread of the coronavirus led to the postponing of major sports events such as UEFA Euro 2020, Olympic Games, ICC Men's T20 Cricket World Cup, and many more. The sports industry suffered heavy losses resulting in budget cuts on players' compensation and spending on technology. However, the market witnessed signs of recovery in 2021 due to the resume of sports events.

Component Insights

The software segment dominated the market in 2021 with a market share of over 58%. Several software applications produce data for sports analysis, including pre/post-game analysis, real-time predictive analysis, motion/video analysis, and data visualization. Marketers are offering customized sports analytics software, depending upon the desired use of software for individuals and teams. Developments in Augmented Reality/Virtual Reality (AR/VR), biometrics, 2D/3D imaging, Big Data analytics, and video-based sensing have helped the software segment transform. These technologies are now effectively used in video analysis solutions, player tracking, and motion analysis software.

Managers also use software applications to optimize their marketing and advertising campaigns. For instance, an American professional baseball team, The Texas Rangers, is using sports management software of Tableau Software, LLC, 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.

Technology consulting and data analysis, predictive forecasting, data governance, API integration, and maintenance are some of the services on offer in this domain. 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 in 2021 with a revenue share of over 60%; demand is expected to dominate continuously during the forecast period. The segment's growth is attributed 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 in recent years.

For instance, SAP SE offered TSG 1899 Hoffenheim, a German Bundesliga club, the ability to enable digital transformation for the football club using SAP SE'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 the sports team is expected to fuel the growth of the on-field segment in the forecast period.

Off-field analytics primarily helps improve the business and operational efficacy of sports teams. Off-field analytics is majorly used by different stakeholders, fantasy gaming, and betting applications to increase profitability by making the right decisions. An increasing trend among sports fans to understand sports dynamics is expected to fuel the significant CAGR during the forecast period.

Sports Insights

The football segment is expected to register a CAGR of over 29% during 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 in the forecast period. The leading football leagues in European countries, such as the Premier League, UEFA Champions Leagues, and Bundesliga, emphasize data analytics software to plan strategies and player lineups.

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

The basketball segment is also expected to witness considerable growth during the forecast period. Basketball teams use high-tech data analytics solutions to formulate game plans and strategies, avoid player injuries, and scout. Team coaches and managers also use data analytics solutions to evaluate opponent teams, increase the probabilities of winning the 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 the basketball players by providing Noah's basketball tracking system. The demand for data analytics is expected to increase during the forecast period.

Regional Insights

North America accounted for a market share of over 28% in 2021. The increasing demand for video analysis and AI technology in sports, along with the growing 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 is expected to drive the market in the North American region. The leading companies in the sports analytics market, including Tableau Software, LLC, SAP SE, and IBM Corporation, are investing heavily in research and development to cater to client needs and gain a competitive edge.

Asia Pacific region is expected to witness significant growth in the forecast period. The countries including Japan, India, and China are anticipated to experience strong demand due to the countries' strong building sports culture. The factors such as the beginning of various sporting leagues, aggressive investments in sports, and digitalization are expected to play a crucial role in the market growth.

Key Companies & Market Share Insights

The competition between small and midsized companies is intensifying, and thus marketers are focusing on mergers, acquisitions, and strategic partnerships to sustain and expand the business in the market. For instance, Sportradar AG, in June 2021, announced a 10-year global partnership with the National Hockey League. 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 rights to supply sports betting operators with live broadcasts of NHL games through the providers' digital betting platforms available in authorized markets. 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 2018 to 2030. 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, 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

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

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    •  Germany

    • France

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)