Sports analytics offers tools to assess player fitness and team performance, competitive analysis, social media, and business analysis, among other crucial functions. It has led to the development of sophisticated structures for crunching numbers to predict prior results, win-loss records, and opponent history, to determine the outcome of a future sporting event.

- Owing to the increasing demand for monitoring and tracking data of players, the number of wearable devices in the sports industry is increasing. Consequently, a significant quantity of data related to the players and the team is generated, which is used to gain insights on player performance and fitness variables, such as heartbeat, speed, and acceleration.

- With the explosion of health assessment solutions, driven by fitness bands and other wearable devices, the growing volume of data to be analyzed has increased drastically. In addition, the availability of cost-effective and high-end computing solutions and the increased demand for analytics of complex data streaming is expected to fuel the growth of the market studied.

- However, the COVID-19 pandemic is likely to hinder the revenue growth of the studied market, mainly attributing to the slowdown of the sports industry, which is a major driver of the market. To safeguard the health of sportsmen and athletes, most major sporting events at international, regional, and national levels have been canceled or postponed – from marathons to football tournaments, athletics championships to basketball games, handball to ice hockey, rugby, amongst others.

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Key Market Trends

Football Accounts for the Largest Share in the Sports Analytics Market

- Football by itself accounts for the largest share in the sports analytics market, owing to increased attendance for football leagues, such as UEFA Champions League, MLS, EPL, and ISL. According to weltfussball, the Bundesliga league (Germany) witnessed a spectator count of 42.7 thousand in 2019.

- Furthermore, teams and clubs partnering with analytics companies is a significant trend in the market. For instance, many football leagues and clubs have collaborated with Opta, the leading provider of football sports data. Opta’s analytics can determine every single action of a player in a specific zone on the field, regardless of whether a player has a ball or not.

- Conclusively, the rising competitive nature, need for improved decision making to gain an edge over their competitors, and need for strategy implementation for matches on the field, as well as ticket inventory and social media influence off the ground, are expected to boost the adoption of analytics in these markets.

Changing Sports Dynamics and Technology Adoption Drives the Sport Analytics in North America

- The changing market environment and higher technological adoption rates across the region are increasing the usage of sport analytics solutions in North America. As organizations are focusing on reducing maintenance and upgrade costs, the demand for software provided on the cloud is being increased as cloud-based solutions offer advantages, such as low cost, rapid scalability, easy access, and uninterrupted service.

- Leagues are the primary users of sports analytics solutions, Baseball and basketball leagues have the highest adoption rate of these solutions, particularly for selecting players. Recently, several clubs in ice hockey have started investing in analytics, and American Football remains an influential market.

- Superclubs are renowned owing to their notable history of success, which has driven their brand value, fan base, attracting star players from all over the region and thus, driving investments and sponsorships. These elite clubs view analytics as football’s next frontier. Further, the rising competitive nature, need to improve decision making to gain an edge over their competitors, need for strategy implementation, and social media influence has boosted the adoption of analytics, exponentially.

- The New England Patriots use an approach to season ticket holder retention that is based on a variety of behavioral metrics. For instance, their models include variables such as game attendance, purchases of team merchandise, attendance at special season ticket holder events, and attendance at concerts or soccer games at the Gillette Stadium.

Competitive Landscape

The sports analytics market is slightly consolidated and consists of major players that have a comparatively better market presence. In terms of market share, few of the major players currently dominate the market. These major players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring startups working on sports analytics market technologies to strengthen their product capabilities.

- June 2020 - Hamburg-based startup Bepro, the next-generation sports analysis platform, has announced securing an additional EUR 8.8 million in funding. The startup will use the funds from Altos Ventures, Softbank Ventures, Saehan Ventures, Spring camp, and Miraeasset Ventures, to develop their football tech and expand internationally.

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