GVR Report cover Sports Analytics Market Size, Share & Trends Report

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 ID: GVR-4-68038-128-3
  • Number of Pages: 180
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

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. Increasing importance of on-field data to analyze team performance, track individual players, monitor injuries, and optimize 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. 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.

U.S. sports analytics market size and growth rate, 2023 - 2030

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 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 into 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, 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. 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, 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. Analytical data is widely used in fantasy gaming applications to showcase player information and individuals while selecting players to get money rewards. Increasing use of sports analytics solutions in fantasy gaming is expected to impact the market positively.

COVID-19 pandemic negatively affected the global sports industry. Outbreak led to 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 compensation and spending on technology. However, sports analytics market witnessed signs of recovery in 2021 due to resumption of sporting events and is expected to expand positively in upcoming years.

Market Dynamics

IMPACT OF SOCIAL MEDIA AND SMARTPHONES

Social media has transformed into a source of information and has had a significant impact on the sports industry. The internet's speed is increasing, data is delivered rapidly, and smartphones and social media offer access to information everywhere and at any time. Most of the information for fans, teams, coaches, and players comes through social media. Fans are most likely looking through their smartphones on a social media site while watching games. All of this serves to increase the popularity of sports and individual athletes.

Sports organizations can use app logins and online video views to identify similarities in digital engagement, such as online sports streaming, to better understand what and when fans are viewing. They're using augmented reality to create more immersive experiences.

ADOPTION OF CLOUD BASED SOLUTIONS

Cloud-based solutions represent the next phase of development not only in the sport business but in every industry. It is transforming the way people watch and play sports and games. Advancements in cloud services have enhanced the inputs and methods of evaluation such as the transition from basic box score statistics to highly unstructured data like player, teammate, and opposing team movement, position, exhaustion, weather, and field conditions. The cloud deployment model assists organizations and clubs to digitalize sports performance as well as offers athletes the ability to better analyze their own performance by delivering secure and sustainable data. The most significant sports programmers and event organizers, including the Tennis Channel, FOX Pac-12 Enterprises, and the Big West Conference, as well as the youth production companies including FOX Media LLC and PlayOn! Sports are already embracing the cloud to adopt new kinds of sports viewing, expand their audience and increase revenue.

Component Insights

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. Market players are collaborating to introduce innovative analytics software platforms, further fueling growth of the segment. For instance, September 2023, the Association of Tennis Professionals (ATP) collaborated with Tennis Data Innovations (TDI) to launch Tennis IQ, a new performance analytics platform to democratize access to cutting-edge insights and data for players on the ATP Tour.

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.

Services segment is expected to register a substantial growth rate of over 19.0% from 2023 to 2030. 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

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. 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. 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.

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.

Sports Insights

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. Demand for data analytics is expected to increase in this sport during the assessment period.

Football segment is expected to register a CAGR of more than 24.0% over the forecast period. 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. Significant number of benefits provided by these solutions in American football, along with heavy investments made by football teams in data analytics solutions to gain a competitive edge, are expected to drive the segment's growth.

End-use Insights

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. 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 upcoming years.

Global sports analytics market share and size, 2022

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, 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

North American market for sports analytics captured a significant revenue share of over 28.0% in 2022. 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.

Sports Analytics Market Market Trends, by Region, 2023 - 2030

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 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. 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, 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. 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

Recent Development

  • In October 2023, Texas A&M Athletics Sports Science signed an agreement with Gemini Sports Analytics to provide Gemini's AI software platform that will enable the students, graduates, and sports teams of Texas A&M University to access predictive analytics and metrics.

  • In October 2023,Entain plc acquired Angstrom Sports, a US-based provider of sports data analytics and forecasting.

  • In February 2023, Genius Sports Limited partnered with XFL, an American football minor league. The partnership aimed to provide Genius Sports with 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.

Sports Analytics Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 3.52 billion

Revenue forecast in 2030

USD 14.41 billion

Growth rate

CAGR of 22.3% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

September 2023

Quantitative units

Revenue in USD million/billion, and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, analysis type, sports, end-user, region

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Spain; Italy; China; India; Japan; South Korea; Brazil; Mexico

Key companies profiled

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

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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)

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