Takings from Player Tracking Market to Reach $7.3 Billion by 2023
The report name, “Player Tracking Market” published by MarketsandMarkets™ would help to identify the strategic overview of Player Tracking Industry growth and continue to drive by presence of prominent players across the globe.
Northbrook, IL -- (SBWire) -- 05/17/2019 --According to a new market research report "Player Tracking Market by Component, Solution (Wearables, Opticals, Application-Based), End User (Individual Sports, Team Sports), Application (Fitness Tracking, Performance Tracking, Fraud Detection, Player Safety), and Region - Global Forecast to 2023" published by MarketsandMarkets™, the Player Tracking Market expected to grow from USD 2.1 billion in 2018 to USD 7.3 billion by 2023, at a CAGR of 27.8% during the forecast period.
An increasing amount of on-field data and growing demand for real-time data access are some of the major factors driving the growth of the Player Tracking Market.
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Services segment is expected to grow at the fastest CAGR during the forecast period
Growing demand for optical solutions among team sports is expected to drive the growth of services in the Player Tracking Market. The number of player tracking solutions that are being used across different sports is rising day-by-day owing to which the demand for services, such as optical tracking and application-based monitoring has also increased in the Player Tracking Market. Most of the solution providers, such as Polar and Catapult are offering various player tracking services for both individual and team sports.
Optical segment is expected to grow at the fastest CAGR during the forecast period
Optical solutions are installed in large areas, such as training field and stadium to monitor gameplay of all the players on the field/court. These solutions deliver performance statistics of a player through HD cameras, software, and statistical algorithms in real-time. Additionally, these optical solutions produce game videos through installed cameras in stadiums for post-match discussions with players and coach. Some of the key features, such as speed, distance run, stamina, acceleration, and team formations can be monitored through an optical player tracking solutions. The world's largest sports league, such as Ligue de football professional, Serie A, and Qatar Stars League (QSL) have installed optical player tracking solutions in their stadiums. Organizations such as Stats and ChyronHego are offering optical solutions in the Player Tracking Market.
Team sports is estimated to grow at the fastest CAGR during the forecast period
In recent years, the team sports segment has witnessed an upward trend in terms of adoption of player tracking solutions. Soccer, hockey, cricket, and basketball are some of the team sports where the use of player tracking solutions is high. From GPS-enabled vests to smart watches, optical to application-based solutions are used by players and referees to track real-time information. Additionally, coaches from different sports are also using player tracking solutions to evaluate defensive and offensive plays as well as an individual player's performance.
Player tracking solutions, such as optical and application-based can also be used to gain intelligence by monitoring competitor's player performance. The broadcasters use data from optical sports tracking solution to provide exciting stories for viewers with fully virtual replays where the 3D animation recreate player movements. Catapult, STATSports, and ChyronHego are a few companies that offer player tracking solutions in team sports.
APAC is estimated to grow at the fastest CAGR during the forecast period
The APAC economies, such as India, China, Australia, Pakistan, Sri Lanka, and Bangladesh, organize different sports leagues and participate in world sports events featuring cricket, hockey, badminton, athletics, and more. Factors such as continuous growth in internet penetration, cloud technology, and smart devices penetration among various sports organizations in the region are driving the adoption of player tracking solutions. The various sports leagues which have recently started in the region, in the recent past, have increased the adoption of advanced player tracking solutions across sports. These leagues use an extensive technology-based wearable and optical devices to track player performance and behavior on the field. Apart from league associations, team management leverage player tracking systems to track player health metrics, performance, and behavior on and off the field. Coaches analyze the data and try to keep athletes fit throughout the season, reduce the risk of injury, and design the competitive plan for individual players on the field.
Government across key economies are emphasizing on improving the performance of athletes playing individual sports on a national and international level. The coaches monitor athletes during the training sessions to provide timely feedback about their health and performance while setting goals for the future. Furthermore, athletes track their performance during the practice session to set predefined goals. Owing to these factors, APAC is expected to witness a healthy growth rate during the forecast period
15 major vendors namely Zebra Technologies (US), Catapult Sports (Australia), STATSports (UK), ChyronHego (US), STATS (US), Kinexon (Germany), Polar (Finland), Playgineering (Latvia), Sonda Sports (Poland), JOHAN Sports (Netherlands), Exelio (US), Q-Track (US), Advanced sports analytics (US), Xampion (Finland) and Sports Performance Tracking (Australia) offer player tracking solutions, platforms, and services across the globe.
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