Sports Management Software Market
Increases in fan engagement are a few of the factors fueling the growth of the sports management software market.
PORTLAND, PORTLAND, OR, UNITED STATES, September 18, 2023/EINPresswire.com/ — As per the report, the global sports management software industry was accounted for $5.96 billion in 2021, and is expected to reach $24.09 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.
Surge in investment by governments and private enterprises in the sport industry and digital revolution in sport facilities have boosted the growth of the global sports management software market. However, dearth of data security and privacy hinders the market growth. On the contrary, ease of event management and cloud-based services offered by the software opens lucrative opportunities in the future.
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• The pandemic impacted the demand for sports management software positively.
• Since the Covid-19 pandemic, the sport industry focused more on emerging technologies to manage events and leagues using AI-powered solution, apps-based, and cloud-based services for several operations.
By component, the software segment held the largest share in 2021, accounting for more than two-thirds of the global sports management software market, due to inclusion of various functionalities such as online registration and rise in investments in sports industry. However, the services segment is estimated to register the highest CAGR of 16.4% during the forecast period, owing to numerous advantages offered by services provided such as training schedule management, fitness tracker, and increased fan engagement.
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By deployment model, the cloud segment is projected to manifest the highest CAGR of 16.6% from 2022 to 2031, due to easy access to sports data by many sports organizations with the help of devices such as the mobiles, laptops, tablets, and others. However, the on-premise segment held the largest share in 2021, contributing to more than half of global sports management software industry, due to rise in adoption of the smart technology in passenger cars by automotive OEMs and present passenger car fleet across the globe. The report includes analysis of the LCV and HCV segments as well.
By application, the client management segment is expected to manifest the highest CAGR of 16.9% during the forecast period, as this software aids in building client relationship and streamlines sales. However, the event management and scheduling segment dominated the market in 2021, accounting for more than one-third of the market, due to the ease provided by this software in managing the tournaments and leagues.
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By region, the global sports management software market across North America dominated in 2021, accounting for more than one-third of the market, due to advancements of technologies in sports leagues, facilities, and clubs. However, the market across Asia-Pacific is expected to register the highest CAGR of 16.7% during the forecast period, due to rise in fan engagement.
This report gives an in-depth profile of some key market players and the Sports Management Software Market Analysis which include Omnify, NBC Sports Group (Sports Engine), Oracle Corporation, Jonas Club Software, Active Network, Stack Sports, League App, Squad Fusion, Jersey Watch, and SAP SE. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the sports management software market globally.
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