The global player tracking market size is expected to grow from USD 2.1 billion in 2018 to USD 7.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 27.8% during the forecast period. Growing demand for real-time data access and rising demand for predictive insights into fan preferences in the area of sports are some of the major factors driving the growth of the player tracking market.
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Top Key Players
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.
By component, the solution segment is expected to hold the largest market size during the forecast period
The player tracking market has been segmented into solutions and services. The solutions segment is further segmented into wearables, optical, and application-based services. These solutions and services help players monitor various fitness-related parameters, such as heartbeat, speed, and distance. Additionally, these solutions help coaches and support staff in monitoring players to reduce any injury-related instances. Most of the high-speed games, such as soccer and rugby involve a lot of physical tackling as a result of which players get injured during live matches. With the help of player tracking solutions, coaches and support staffs can make informed decisions to prevent these injuries. These pros are attracting sports leagues, and teams to adopt player tracking solutions.
Player tracking solution is considered one of the prerequisite components to keep an eye on the efficiency of a player.
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
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