Albany, NY -- (SBWIRE) -- 03/15/2018 -- The global sports software industry is heavily commercialized, which results into a significant growth of this market. Of late, there has been a remarkable rise in funding and investments for the advancement of sports infrastructure across the world. The rising number of sports events are bringing in heavy investments for technological developments from sports leagues, clubs, stadiums, and associations, which is projected to reflect positively on the uptake of sports software in the years to come, leading to a significant surge in the overall market.
The worldwide market for sports software reports its presence across Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. With a significantly high revenue share, Europe has been leading this market and is expected to continue its reign over the forthcoming years. The Europe market for sport software is closely followed by the North American market
North America followed Europe in the sports software market. Asia Pacific is expected to grow at the fastest rate due to growing adoption and penetration of sports software in the region. Other regional markets for sports software are also projected to witness significant rise over the next few years, thanks to the increasing sports events across the world.
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Sports software provides live analysis, visualization and prediction,pre event planning, and post event review. Further, sports software enables integration of multiple data, application process, and facilitates audio and video feed in real time for the generation of new prospective in various sports events. Sports software helps in gaining competitive advantage and help in making critical decisions. Further, it provides spending the talent dollars more wisely and takes the game or performance of an individual to the next level. Sports software enables the acquisition, identification, maintenance, and development of players or sportsmen and helps to devise valuable strategies. Moreover, the software provides rapid evaluation of strategies and enables quick analysis in an ongoing game. It enhances the efficiency of a team or a specific sports person. Some of the factors driving the sports software market include growing adoption of cloud solutions, growing investment in sports infrastructure, and increasing need to improve competitive responsiveness.
The sports industry has become very competitive and is widely commercialized. Thus, to survive in this environment, key players operating in this sector have adopted numerous pricing positioning with strategies which are enabled with technological advancement. Key players have a value based pricing positioning which enables end users to have a customized requirement which suits their requirement perfectly. Further, globally, there has been a significant rise in large scale investments which are being made in sports infrastructure. Future sports events are likely to have stimulate IT investments from sports associations, stadiums, leagues and sports clubs. This is expected to drive the demand for sports software over the next few years. The governing body for sports in Brazil is expected to complete 12,265 projects for setting up infrastructure for sports in the country by 2017. The entire project is worth more than USD 800 billion. These infrastructures consists of integrated sports stadiums and sports complexes.
The sports software market by product type has been segmented into team management, players or sportsperson's fitness, training planning, scouting and performance insights. The team management segment leads the market in terms of revenue share. Team management software provides a holistic view on all the players and actionable insights. The performance insight segment follows the team management segment in terms of revenue share and is also expected to expand at the fastest rate over the next few years.
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The sports software market by sports has been segmented into basketball, rugby, field soccer, hockey, volleyball, netball, GAA, ice hockey, cricket and more. The soccer segment dominates the market in terms of revenue share. The cricket segment followed the soccer segment in the sports software market. The cricket segment is also expected to expand at the fastest rate in the near future.
Geographically, the sports software market has been broadly segmented into North America, Asia Pacific, Europe, Latin America, and Middle East &Africa. Europe leads the sports software market in term of revenue share. North America followed Europe in the sports software market. Asia Pacific is expected to grow at the fastest rate due to growing adoption and penetration of sports software in the region.
Some of the key players operating in the sports software market include International Business Machines Corporation (New York, U.S.), Daktronics (South Dakota, U.S.), SAP SE (Germany), Blue Star Sports Limited (U.K.), Vista Equity Partners (Texas, U.S.), Edge Games, Inc. (California, U.S.), Sportlyzer, Sports Manager, F3M Information Systems and SportEasy SAS (France). Key players operating in the sports software market adopt various strategies to gain competitive advantage. Technological development is a key strategy adopted by players to stay ahead in the sports software market. The key players operating in the sports software market are a focusing a considerable amount of their revenue in research and development for developing new products and gain competitive advantage over its competitors.
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