Factors including the digital revolution in sports facilities and the development in public and private sector investments in the sports industry significantly impact the expansion of the global market for sports management software. Additionally, increased fan engagement via live streaming and live chat drives the market's growth. Additionally, the software's cloud-based services and simplicity of event administration provide this sector with substantial growth potential. However, a lack of data security and privacy may limit industry expansion. It is projected that each of these elements would significantly affect the market for sports management software.
The worldwide COVID-19 outbreak has severely impacted industries all across the world. As a result of the worldwide lockdown imposed by all governments, the influence of the pandemic on the adoption of sports management software was probably good. After the COVID-19 situation, the industries began concentrating more on cutting-edge technology to run leagues and events utilizing AI-powered solutions, cloud-based technologies, and apps based on sports management software to carry out various activities.
Rapid Digital Transformation to Support Market Development
Due to the digital revolution, sports facilities, clubs, and local stadiums, among other places, are in great demand for sports management software. Due to the increased use of digital technology in sports to quicken play and boost spectator engagement, the industry is expanding. The use of cloud-based services is the primary factor fueling the market's expansion. Additionally, it is predicted that rising software-based service penetration and rising needs for raw fan involvement would support the market's overall expansion. The market is growing due to the increasing functionality for evaluating match statistics and other match-related data as well as the integration of software in sports. A major driver is the increase in regional and local competitions in sports including baseball, hockey, football, and soccer.
Sports Software's High Price May Limit The Market's Expansion
Due to extremely limited IT budgets, the high cost of game software is impeding the growth of the global market for sports management software. This has an effect on the cost of sports management software. Because of this, providers of sports management software are revising their pricing and delivery strategies to better meet their clients' needs and financial constraints. In order to tackle a variety of issues, trained professionals are also necessary. Over the course of the projection period, the lack of specialists may be a barrier for the market for sports management software.
Based on component, the sports management software market is segmented into software and services. The software category dominated the market in 2022. The market is expected to grow due to the addition of new functions, such as online registration, and increased investments in the sports industry. The services sector, however, is anticipated to have the biggest proportion in the next years. This is due to the many benefits services offer, including management of training schedules, fitness trackers, and elevated fan interaction. Due to these reasons, a lot of businesses in the sports industry are using sports management software services.
By Deployment Mode
Based on deployment mode, the sports management software market is segmented into on-premise and cloud. The on-premise category dominated the market in 2022 due to the ease with which many sports organisations may obtain sports data via tools like PCs, smartphones, tablets, and other gadgets. Additionally, cloud-based solutions are inexpensive and simple to setup, which fuels this market.
Based on application, the sports management software market is segmented into team management, marketing management, client management, event management and scheduling and others. The team management category dominated the market in 2022 because more local and international competitions in sports like hockey, baseball, football, and soccer have increased demand for the team management sector. However, because to the software's ability to improve customer interactions and streamline sales, the client management segment is anticipated to have the Sports Management Software Market Forecast period's highest growth.
North America is projected to hold the largest share of the sports management software market over the forecast period due to the localisation of new technology-based solution vendors and the rising popularity of sports. Soccer, rugby, hockey, basketball, and baseball are just a few of the sports played in the area. There are also several sports leagues, the National Football League being the most lucrative. On the other hand, the Asia Pacific sports management software market is anticipated to grow significantly. There will be attractive potential opportunities for the market throughout the Asia-Pacific region as a result of factors including the quick digitisation of the sports industry and the rise in the adoption of cloud services among sports organisations.
LIST OF KEY COMPANIES PROFILED:
- NBC Sports Group
- Oracle Corporation
- Jonas Club Software
- Active Network
- Stack Sports
- League App
- Jersey Watch
- SAP SE
- September 2020: MaxOne, a virtual coaching platform (VCP) for youth sports programmes, and SportsEngine, Inc. joined forces. To enhance and extend the young athletes' sporting experience, it offers training tools for virtual programming, coaching, drills, and engagement.
- August 2020: To provide a new mobile payment software that rewards you for your purchases, Stack Sports has collaborated with TapNPay+. After Covid-19, this collaboration was launched to facilitate payments.
|Market Size in 2022||USD 6.5 Billion|
|Market Forecast in 2030||USD 17.5 Billion|
|Compound Annual Growth Rate||15.20%|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Component, By Deployment Mode, By Application and By Geography|
|By Deployment Mode||