This market research report identifies IBM, SAP, and SAS as the major vendors operating in the global sports analytics market. This report also provides a detailed analysis of the market by components (Solution Suite and Services), applications (Team Performance, Athlete Performance, Fan Engagement, Price Optimization, and Others), and region (North America, Europe, APAC, and Rest of World).
Overview of the Sports Analytics Market
TMR market research report predicts that the global sports analytics market will grow at a CAGR of 43.5% during the forecast period 2018–2024. The growing demand for providing athletes with detailed analogy with various performance indicators, enhancing fans experience by leveraging data generated through social media and smartphones, and optimizing revenues through ticket pricing are some of the key drivers that are expected to boost the growth of the sports analytics market during the forecast period.
According to the sports analytics industry analysis, North America holds the largest market share in 2017 and is expected to dominate the sports analytics market during the forecast period. The factors driving the growth of the market in North America include high integration of sports analytics solutions in this region and early adopters of sports analytics by teams of MLB and NBA in this region, which has made the difference by enhancing their game and optimizing revenues. Moreover, increasing demand from sports organization to enable them to increase their fan retention and revenue opportunities has further bolstered the need of sports analytics solutions. For example: Fanisko, a fan engagement platform provider has now become official fan engagement partner for North American Hockey League (NAHL), North American 3 Hockey League (NA3HL), North American Prospects Hockey League (NAPHL) which will engage fans to stay updated and increase revenue opportunities for NAHL, NA3HL, NAPHL.
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Competitive Analysis and Key Vendors
In most of the sectors, analytics is transforming industries completely and changing the aspect of consumer experience by providing them the offerings which they expect for. Sports organizations and leagues utilizes analytics for data-driven decisions, rather than based on gut feelings and intuitions. Sports analytics is rapidly becoming an integral component for most of the global sporting events, with leading sports federations such as UEFA and NFL and organizations such as MLB and Manchester United using sports analytics solutions to enhance constructive engagement with their prospective sponsors and to expand their fan base. Sports analytics can be used to monitor and analyze individual players as well as overall teams, thereby enabling team managers and support staff to make constructive decisions to enhance overall performances. Sports analytics by using predictive models, predicts about the team or players who can succeed and in which season there will be highest tickets sold, and what can boost the fan experience.
The report covers and analyzes the sports analytics market. Major vendors across different verticals are planning for high investments in this market, and as a result, the market is expected to grow at an impressive rate in the upcoming years. The key players are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaboration & partnerships, joint ventures, and few other strategies to be in the strong position in the market.
Some of the Sports Analytics market key vendors are:
Other prominent vendors in the global sports analytics market are STATS, Opta, TruMedia Networks, Catapult, Zebra technologies, and Sports Mechanics. Under Armour’s Health Box the connected fitness system which is created for monitoring, measuring, and managing factors of progress. IBM Watson Analytics is being used by these connected devices for providing data and insights required for improving performance. University of North Carolina Athletics Department and Rams Club are using SAS analytics to gain more insights into fan engagement and maximize their revenue streams.
Sports Analytics Market by Components
- Solution Suite
In 2017, the solution suite occupied the largest share, but services is expected to grow at the highest CAGR during the forecast period.
Sports Analytics Market by Applications
- Team Performance
- Athlete Performance
- Fan Engagement
- Price Optimization
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In 2017, the team performance occupied the largest share, but fan engagement segment is expected to grow at the highest CAGR and take the largest market share at the end of the forecast period.
Sports analytics enhances fan experience and provides performance statistics of team as well as individual player to improve the game. For example: In 2008 Beijing Summer Games, in Taekwondo the match referee gave an incorrect decision as he missed a winning hit, but the decision was reversed after an hour from that time onwards analytics made its importance in sports sector. Sports analytics helps sports organizations as well as individual players in attaining competitive edge and enable them in taking effective decisions and developing effective game strategies.
The report comprises an analysis of vendor profile, which includes financial status, business units, key business priorities, SWOT, business strategies, and views. The report covers the competitive landscape, which includes M&A, joint ventures & collaborations, and competitor comparison analysis. In the vendor profile section, for companies that are privately held, the financial information and revenue of segments will be limited.
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Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the sports analytics market.