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One of the key factors driving the market growth is the growing demand for sports analytics. There is rising adoption of artificial intelligence (AI) in this industry for analytical purposes. Due to the advancement in technology in the global market, There is increasing adoption of smart sports equipment and various sports analytics platforms for athletes, teams, coaches, team managers, and sports associations to generate insights related to the performance of athletes, as well as to make strategic changes in the team based on the analysis.
Hence, the data which is collected through various wearable devices are then processed using AI-based processing technologies, such as deep learning and machine learning to gain insights. Additionally, this software utilizes these data and offers coaches actionable insights to improve the performance of these athletes. Therefore, such advantages have led to an increase in the adoption of smart equipment across sports teams, clubs, and associations. Thus, such factors are expected to drive the global market during the forecast period.
A key factor shaping the market growth is the emergence of VR technology and AI in sports. There is a growing prominence for visual technologies and AI in the global industry. As a result, there is rising adoption of VR by sports leagues, clubs, and coaches as it provides real-time instructions and training to aspiring players.
One of the main features of VR is that it enables an athlete to train in real conditions using data that is collected during virtual training sessions. Also, these data can be utilized to generate insights into player performance by feeding the data into a sports analytics platform and thereby, improving the performance levels of players by organizing different training sessions based on the analysis. Hence, such applications are expected to drive the market growth and trends during the forecast period.
Data privacy and security concerns are the key challenges hindering the market growth. Numerous instances of online hacking and security breaches have taken place and it has become a significant threat to the Companies. As cloud infrastructure is based on many patchworks of open-source codes, there is always a high chance of introducing flaws in cloud systems.
As a result, the public cloud infrastructure is impacted due to the glitches in source codes, as public clouds are multi-tenant and can affect various applications running in the cloud environment. Hence, it offers an easy pathway for hackers to access the cloud-based data storage systems, as cloud-based infrastructure is based on open architecture and shared resources. Thus, such factors are expected to hinder the global market during the forecast period.
The clubs segment is estimated to witness significant growth during the forecast period. One of the main applications in clubs is that they are used to organize in terms of updating and uploading online details. This software is widely used in clubs for inputting team information, streamlining registration, adding and dropping players, and scheduling an entire season in a shorter time.
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The clubs segment was the largest and was valued at USD 1.56 billion in 2018. For instance, Active Network's LeagueOne sports software offers features such as online registrations. Another such software is ClubReg, which is an online registration module that integrates with the LeagueOne application. Some of the major football clubs that use this software to manage their day-to-day activities include Liverpool, Manchester United, and Manchester City. Hence, such high demand is expected to drive the global market during the forecast period.
The several application in the coach segment is expected to increase the global market growth during the forecast period. Coaching can be referred to as the development of skills for an athlete. Some of the key metrics which are analyzed by coaches include tactics, techniques, and physical fitness. Hence, they is widely used in this segment to upload, analyze, view, and discuss matches and information on players and teams. In addition, it helps coaches to streamline video analysis. Thus, such applications will increase the growth of this segment which in turn will fuel the global market growth during the forecast period.
The low total cost of deployment of the cloud-based solutions segment is expected to increase the global market growth during the forecast period. Some of the main advantages of cloud-based software are that it is accessible through web browsers and remote locations as well as it does not require an in-house IT team and can be easily installed. As a result, many end-users, such as small sports associations, small gyms, academies, and individual upcoming coaches, are shifting towards cloud-based software for faster and cost-effective software implementation. Hence, such factors are expected to increase the growth of this segment which in turn will fuel the growth of the global market growth during the forecast period.
Customization and high data security in the on-premises segment deployment are expected to fuel the global market growth during the forecast period. It is one of the most secured cloud segments as it is installed on the end user's computing infrastructure and data are managed in-house by the organization's IT staff. However, the deployment of this segment requires high capital investment and continuous maintenance. Some of the ideal end-users that are best suitable for the on-premise segment are clubs, leagues, and national sports bodies, as they have all the essential infrastructure, such as in-house IT support and backup servers, to provide an extra level of security. However, factors such as high data security will fuel the market growth of this segment and are expected to increase the global market growth during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors for the significant growth of the global market growth in North America is the increase in technological advances in the region as well as the rising number of investments in the market. Factors such as the rising adoption of this software and a growing emphasis on using the analytics software market are also significantly contributing to the market growth in the region. In the US, there is a growing popularity in their use in several sports, such as American football (Rugby), basketball, and baseball as some major sports leagues are increasingly adopting analytics software for gathering insights, getting sports-related data, and offering valuable insights to the public, teams, and athletes. Hence, such factors are expected to drive the global market during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Constellation Software Inc: The company offers sports software under the brand EZFacility Inc.
Daktronics Inc: The company offers sports software such as DakStats statistical software, OmniSport aquatics software, Tennis software among others.
Global Payments Inc: The company offers sports software under the brand ACTIVE Network LLC.
The market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Market Scope |
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Report Coverage |
Details |
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Page number |
175 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.69% |
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Market Growth 2024-2028 |
USD 11.95 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
16.01 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key countries |
US, China, Germany, Japan, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Constellation Software Inc., Daktronics Inc., Digital Edge Sport Inc., EDGE10 Group Ltd., Engage Sports LLC, Global Payments Inc., International Business Machines Corp., Jevin, LeagueApps Inc., SAP SE, SPay Inc., Sport 80 Services Ltd , Sportlyzer LLC, SportsEngine Inc. , Stats Perform group of companies, Team Topia Inc., TeamSideline.com, TeamSnap Inc., TopDog Sports, and Upper Hand Inc. |
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Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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