From 2021 to 2026, the sports analytics market will grow by USD $2.93 billion. The market’s growth momentum will increase at a CAGR of 20.65% over the forecast period.
In 2022, the market will grow 18.01% year-over-year.
Market growth will be significant in the football sector during the forecast period.
Because football has many subjective parameters, there is a significant increase in demand for analytical tools like sports analytics.
This will fuel the segment’s growth over the forecast period.
North America is expected to account for 38% growth in the market during the forecast period. This is due to factors like a significant rise in technological advancements in the region and rising investments in this market.
Market growth in the region will also be much faster than that in South America, Europe, and the MEA. The US is the key country in North America for sports analytics.
These are the factors that will drive market growth during the forecast period.
- Cloud-based deployment solutions are being adopted more frequently
- Sports apps are in high demand.
- There is a lot of demand for sports analytics
The market for sports analytics is likely to grow due to the continuing trend of wearable devices.
The wearables can track every aspect of a person’s fitness, helping them to optimize their training and performance. These wearables provide data that coaches can use to develop insights through sports analytics platforms.
Smartwatches are also becoming more popular. The market will grow due to technological advancements in wearable devices.
Data and AI continue to play a major role in the sports analytics market.
