The need to run clubs and associations as organized businesses with the following levels of management is one of the major factors driving the market demand.
PORTLAND, PORTLAND, OR, UNITED STATE, October 23, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The USD 24.09 Billion Sports Management Software Market Reach by 2031 | Top Players Such as- League, Omnify and Stack Sports.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global sports management software market was valued at USD 5.96 billion in 2021, and is projected to reach USD 24.09 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.
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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 market growth. On the contrary, ease of event management and cloud-based services offered by the software opens lucrative opportunities in the future.
The sports management software market is segmented into Component, Deployment Model and Application. By component, the market is divided into software and service. On the basis of deployment, it is separated into on-premises and cloud. According to the application, it is split into event management & scheduling, team management, marketing management, client management, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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 relationships 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.
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 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 a rise in fan engagement.
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.
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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.
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