Sports Analytics Market - Global Industry Analysis (2019 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

The sports industry is becoming acutely cognizant of the benefits of monitoring the daily and on-the-field activities of sportspersons. By leveraging advanced analytics, sports management teams can develop actionable strategies, while reliably tracking an athlete’s overall health. This has dramatically increased the demand for sports analytics solutions and services. A recent report by Fairfield Market Research predicts that the global sports analytics market will grow steadily throughout the forecast period.

In 2019, the total value of the sports analytics market was nearly US$1.4 Bn. Going forward, the market is poised to observe double-digit growth with the predicted valuation being around US$15.8 Bn by 2029 end. Moreover, the market is set to register a whopping CAGR of 25.9% between the forecast years 2022 to 2029. The major demand driver for sports analytics solutions and services is the sound pursuit of cutting-edge technologies in the sports industry. Other factors such as open innovation, gradually rising interest in sports analytics, and strong collaboration among industry leaders are anticipated to unlock fruitful outcomes in the market.

Key Trends and Insights Across Sports Analytics Market

On the basis of team sports, football will attract the most significant demand for sports analytics, holding a market share of US$912.1 Mn

The services component will garner greater demand as a result of robust technological developments, creating lucrative business outcomes in the sports analytics market

North America is the largest market. By the end of 2029, it is expected to register a value CAGR of 25.4% which is a strong indicator of the business potential of sports analytics solutions and services in this region

Sports Analytics Demand Soars Due to Their Role in Improving Players’ Performance

Advanced analytics are helping coaches to better track and monitor the routine activities of athletes both on and off the field. This includes keeping track of eating behavior, sleep pattern, daily exercise, food timings, and more. As a result, with the help of sophisticated sports analytics methods, sportspersons and their mentors can better predict the status of overall fitness, the likelihood of injuries, and stress-inducing factors.

Sports analytics also empower coaches to better train players on ways of enhancing their performance on the field. All this facilitates informed decision-making, significantly reducing the chances of error in taking critical actions during a game. Thus, owing to these benefits, the demand for sports analytics solutions and services is expected to increase, creating lucrative prospects across the global sports analytics market.

Flourishing Sports Industry Enables North America to Gain Market Lead

North America is set to command the most significant share of the global sports analytics market. In this region, technological advancements in the sports industry and growing interest in sports analysis are expected to augment the demand for sports analytics. Moreover, the US, and Canada are major hubs of sports R&D innovation, propelling market vendors to set up their technical facilities in these regions. During the forecast period, an increase in the number of market players in North America is predicted to open promising opportunities across its market.

Leading Market Players

Prominent players in the global sports analytics market include GlobalStep, Catapult, Salesforce, DataArt, Stats Perform, IBM, HCL, SAS Institute, Network, and Quant4Sport.