Global Player Tracking Market Growing Massively– Projected to Reach Worth USD 3,032.76 Million by 2027 | BlueWeave
BlueWeave Consulting and Research Pvt Ltd
7 min read
Delhi, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The global player tracking market is set to witness vigorous growth by 2027. One of the key factor driving the market demand for global player tracking is the increasing demand for personalized fitness activities among players….
A recent study by the strategic consulting and market research firm BlueWeave Consulting revealed that the global player tracking market was worth USD 750.95 million in 2020. The market is further anticipated to reach USD 3,032.76 million in 2027 with a significant CAGR of 24.6% during the forecast period, i.e., 2021-2027.
Increasing demand for personalized fitness activities for various players are one of the primary factors driving the growth of the market. Tracking systems aid in analyzing the movements of players or teams as the number of teams in leagues increases, hence enhancing competition. It's also used as a standard to help players improve their skills.
Rising Number Of Sports Viewership Driving Market Growth
The pandemic may have had negatively impacted the sports community for watching their favorite sports event in the stadiums. However, it has allowed for the rising viewership of sports in their comfort at home across the television and other online platforms. Such platforms have been experiencing a rapid increase in viewership's across the sports channels, with some of them registering record levels of viewership. According to Athletic Panda Sports Editors Report, the NFL draft that took place in the year 2020 amid COVID-19 recorded a viewership of about 15.6 million people, which has broke its previous records.
In addition to this, sports events have been witnessing a rapid growth in investments amid the pandemic that has shifted the focus to more engagement activities and player analytics than ever before, which has driven the demand for tracking devices across the global scale. The growing interest in sports is fueling the growth of fitness related regimes that spectators follow their favorite sports people for, which is bolstering the demand for player tracking devices for people interested in athletic activities, which is positively impacting the growth of the market.
Growing Concerns Over Data Breach And Safety Anticipated As The Key Challenge Hampering Market Growth
The rising advancements may have proven out to be pivotal in analyzing an athletes performance however, it may also end up providing a gist of the performance and fitness levels of top-performing athletes. The growing number of data privacy related concerns and data breaches have enabled for higher incidences or chances for competitors to leverage and curate their strategies accordingly, which has resulted in hindering the ingenuity of the game.
Such vast level of data accumulation of various players across most of the sports events and stadiums have been found to be vulnerable to data breach and other data related concerns that have grown out of popularity across the teams. In July 2020, Garmin, which happens to be a market leader for fitness tracking devices, had to endure a security breach. As a result, it interrupted their servers and rendered their software more vulnerable to get stolen.
Impact of COVID-19 on the Global Player Tracking Market
COVID-19-pandemic sparked tensions across the world, causing governmental authorities to take immediate action. The governmental allocations for recreation and sports across Europe and India indicate that COVID-19 has impacted the government's budget as well. The budget reductions have been diverted toward healthcare to provide support to the most overwhelmed sectors across the world. World War I may have caused the Olympics and Paralympics to be canceled. The pandemic marks the first time they've been postponed after those events. The TV ratings for Stanley Cup Finals, NBA finals, and other events plummeted by more than 61% and 49%, respectively, in 2020. Another factor impeding the market's growth is declining interest in sports, which may compel players to use lesser expensive methods of keeping track of their progress in order to save funds for the franchise.
Solution Sub-Segment Catered The Largest Market Share Amidst The Component Segments
Based on components, the player tracking market has been categorized into Solution and Services. The solution segment is anticipated to dominate the market as features provide features such as analyzing speed, heartbeat, and distance which are helpful fitness-related parameters. Sports training sessions have become more and more dependent on the use of solutions to monitor day-to-day activity. The player tracking solutions have been categorized into three parts such as wearables, optical, and application-based solutions. The wearables segment is expected to have the largest market share among solutions, while the optical segment is expected to grow at the fastest CAGR over the forecast period. Wearable fitness-tracking systems have become more popular as individuals become more aware of fitness-related activities.
Based on regions, the player tracking market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, North America dominated the global player tracking market in 2020. Soccer, rugby, hockey, basketball, baseball, and various sports leagues are popular in North America. In the United States, American football is one of the most popular sports. Whether it's high school football, college football, or professional football, this sport draws millions of individuals from all walks of life. After football and baseball, Basketball is also one of the most popular sports in the United States. The United States is expected to dominate market growth in the region because of factors listed above. Moreover, increased acceptance of player-tracking systems and services by the country's sports industry are driving the growth of the player tracking market in the United States, thereby making North America the dominant region in the market.
Competitive Landscape
The key players in the global players tracking market are Zebra Technologies, Catapult Sports, STAT Sports, ChyronHego, STATS, Kinexon, Polar, Playgineering, Sonda Sports, JOHAN Sports, Exelio, Q-Track, Advanced sports analytics, Xampion, Sports Performance Tracking, and other prominent players. The player tracking industry is competitive by nature, and as more sports organizations recognize the value of the player tracking market, competition among players is increasing. Zebra Technologies, Catapult Sports, STATSports Group Limited, and ChyronHego are some of the market's major players. Product launches, significant R&D spending, partnerships, and acquisitions are the primary growth strategies these companies use to sustain in the face of fierce competition.
The report's in-depth analysis provides information about the global player tracking market's growth potential, upcoming trends, and statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global player tracking market, along with industry insights, to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
Scope of the Report:
Attribute
Details
Years Considered
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Facts Covered
Revenue in USD Million
Market Coverage
United States, Germany, United Kingdom, France, Canada, Italy, Spain, China, Japan, South Korea, Brazil, Mexico, India, Argentina, United Arab Emirates, South Africa, Saudi Arabia.
Product/Service Segmentation
By Component, By Application, By Region
Key Players
The key players in the global players tracking market are Zebra Technologies, Catapult Sports, STAT Sports, ChyronHego, STATS, Kinexon, Polar, Playgineering, Sonda Sports, JOHAN Sports, Exelio, Q-Track, Advanced sports analytics, Xampion, Sports Performance Tracking, and other prominent players.
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