Market Forecast By Deployment (Cloud, On Premises), By End User (Residential, Commercial) And Competitive Landscape
|Product Code: ETC433801||Publication Date: Nov 2022||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 75||No. of Figures: 35||No. of Tables: 20|
Argentina sports analytics market is expected to grow during the forecast period. The demand for sports analytics in Argentina is fuelled by the growing popularity of sport across different age groups, increasing expenditure on sports activities, and increasing investments in sports development. The industry is mainly driven by the growth of football (soccer) and basketball, as these two sports are considered as major global competitions.
According to 6Wresearch, the Argentina Sports Analytics Market size is expected to grow during 2022-2028. Argentina has been a powerhouse in international soccer for many years, and its teams have consistently qualified for major tournaments such as the World Cup and Copa America. The country's passionate fans provide a fertile ground for sports analytics companies looking to tap into lucrative market opportunities.
The Argentine market for sports analytics is segmented into three main industries—sports management, performance analysis, and coaching & training—based on the type of data used for decision making. The sports management industry is estimated to account for the largest share of the total market revenue. This is due to the high investment that organizations make in sports management systems and applications, as well as the need to improve team performance.
The performance analysis industry is projected to witness highest growth rates during the forecast period owing to increased demand from athletes and coaches for insights into their own performances as well as those of their competitors. This sector also benefits from government initiatives such as the National Program for Quality Development through Sport (PROQUES), which provides funding for research and development projects related to sport quality improvement.
The coaching & training industry is expected to register a higher growth rate than other segments owing to rising awareness about importance of physical activity among people across all age groups, particularly young children and adolescents. This increase in demand is being met by vendors offering solutions that cater to both personal training programs as well as managerial needs such as talent identification and development
The Argentina Sports Analytics Market growth is expected to be driven by the increasing adoption of analytics across various industries such as athletes, coaches, and sports organizations, as well as the increasing demand for customized insights and recommendations from clients. This growth can be attributed to increased investment in sport analytics across various industries, such as football, basketball, cricket, and tennis. In addition, the increasing popularity of wearable devices such as fitness trackers and smart watches is also propelling the market growth.
Another key factor that contributes to the attractiveness of the Argentina sports analytics market is its growing population. The country's population is estimated to reach almost 40 million by 2025, which will create increasing demand for innovative solutions that can help athletes perform at their best. Increasing demand for data-driven insights across various industries, such as healthcare, sports, and entertainment. The report profiles six key industry segments and identifies their key growth drivers.
The other factors driving this growth include the increase in investments in sports analytics across businesses and sport, growing demand from global leagues and governing bodies for performance insights, and rising awareness among athletes and fans about the benefits of using analytics in their sport.
One of the major challenges faced by companies in the Argentina sports analytics market revenue is a lack of skilled professionals. This is mainly due to Argentina’s education system which does not emphasize mathematics and science as subjects. As a result, a large number of professionals who could work in this field do not have appropriate qualifications. Additionally, many start-ups in the Argentina sports analytics market face difficulty finding funding because it is still considered an early-stage industry.
The outbreak of COVID-19 has had a significant impact on the sports analytics market. The pandemic has forced the cancellation or postponement of many sporting events, resulting in a decrease in demand for sports analytics products and services. In addition, the economic downturn caused by the pandemic has resulted in reduced spending on sports analytics by businesses and organizations.
Cloud-based solutions are gaining popularity due to their low deployment costs and ease of use. They are also preferred by large organizationsdue to their scalability capabilities. On-premises solutions are also growing in popularity owing to their reliability and security features. These solutions are well suited for smaller organizations that do not have access to or do not want to use cloud-based solutions.
Performance analysis dominates the market with a share of more than two-thirds. This segment is mainly driven by the needs of athletes and coaches for better performance insights and decisions. Business intelligence is next in terms of market share followed by marketing/branding and others. This segment is primarily focused on providing insights into the commercial value of sports events and associated brands.
The healthcare and retail sectors are two of the most important industry segments in Argentina. Healthcare providers are increasingly using data-driven insights to improve patient care, while retailers are using analytics to optimize their operations. These sectors account for a significant portion of the overall sports analytics market in Argentina.
The automotive industry is the largest contributor to the sports analytics market with revenue estimated to grow. This growth is attributed to increased focus on fuel efficiency and emissions levels in vehicles, which in turn necessitates accurate tracking of driving behavior and performance.
The gaming industry is anticipated to witness growth rates higher than any other industry with revenue estimated to reach USD 6 billion by 2024. This growth can be attributed to growing demand for online gaming platforms that offer enhanced gameplay experiences. Other major contributors to the gaming sector include professional sport, retail, and media & entertainment.
The competitive landscape within the Argentina Sports Analytics Market share is dominated by major players which together account for more than two-thirds of the market share. These companies are aggressively expanding their footprints in Latin America through partnerships with regional sporting organizations such as CONMEBOL (the regional football body for South America) and FIFA (the regional football body for North America).
The report offers a comprehensive study of the subsequent market segments:
By End User
1. Does the report include the impact of COVID-19?
Yes, the report includes the impact of coronavirus.
2. Which factor is driving Argentina Sports Analytics Market?
The market is driven by factors such as the increasing interest in sports analytics from key stakeholders such as athletes, coaches, and sports organizations.
3. Who are the key customers in Argentina Sports Analytics Market?
Some of the key customers in the Argentina Sports Analytics Market include sports management, performance analysis, and coaching & training industries.
4. What is the forecast period for the Argentina Sports Analytics Market report?
The Argentina Sports Analytics Market report covers 2022-2028 as the forecast years.