NEW CASTLE, Delaware, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Cricket Analysis Software Market by Offering (Software, Service), by Deployment Mode (On-Premise, Cloud), by End-User (Sport Associations, Coaching Institution, Others): Global Opportunity Analysis and Industry Forecast, 2022-2032”. According to the report, the cricket analysis software industry generated $181.5 million in 2022 and is projected to reach $1.2 billion by 2032, witnessing a CAGR of 20.9% from 2023 to 2032.
Prime determinants of growth
The increase in demand for data-driven insights in cricket coaching and strategy, and rise in popularity of T20 and other short-format cricket, have driven the need for quick and accurate decision-making. Furthermore, expansion of cricket leagues and tournaments globally, creates a larger market for analysis software. Moreover, collaboration opportunities between software developers and cricket boards for tailored solutions and integration of AI and ML for more advanced predictive analysis are anticipated to provide lucrative growth opportunities for the market growth during the forecast period. In addition, an increase in the use of analysis software in grassroots and amateur cricket for talent identification and development is also expected to create numerous opportunities for market growth in the coming years. However, resistance to technology adoption in traditional cricket setups and dependence on high-quality and consistent data for accurate analysis, limit the market growth.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $181.5 Million |
| Market Size in 2032 | $1.2 Billion |
| CAGR | 20.9% |
| No. of Pages in Report | 245 |
| Segments Covered | Offering, deployment mode, end-user and region |
| Drivers | Increase in demand for data-driven insights in cricket coaching and strategy Rise in popularity of T20 and other short-format cricket |
| Opportunities | Collaboration opportunities between software developers and cricket boards for tailored solutions Integration of artificial intelligence (AI) and machine learning (ML) for more advanced predictive analysis Increase in the use of analysis software in grassroots and amateur cricket for talent identification and development |
| Restraint | Resistance to technology adoption in traditional cricket setups and dependence on high-quality and consistent data for accurate analysis |
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The software segment to maintain its leadership status throughout the forecast period
On the basis of offering, the software segment held the highest market share in 2022, accounting for nearly two-thirds of the cricket analysis software market revenue, and is estimated to maintain its leadership status throughout the forecast period. The cricket analysis software industry has evolved to meet the dynamic demands of modern cricket, with a focus on advanced analytics and strategic applications, driving the growth of the market. However, the service segment is expected to portray the largest CAGR of 22.8% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. This segment helps to reduce the time and costs associated with optimizing systems in the initial phase of deployment.
The cloud segment to maintain its leadership status throughout the forecast period
On the basis of deployment mode, the cloud segment held the highest market share in 2022, accounting for nearly three-fifths of the cricket analysis software market revenue, and is projected to manifest the highest CAGR of 22.0% from 2023 to 2032, owing to the low costs and easier maintenance as well as provide enhanced solution to the organizations.
The sport associations segment to maintain its leadership status throughout the forecast period
On the basis of end-user, the sport associations segment held the highest market share in 2022, accounting for half of the cricket analysis software market revenue, and is estimated to maintain its leadership status throughout the forecast period. However, the coaching institution is projected to manifest the highest CAGR of 23.2% from 2023 to 2032. Cricket analysis software plays a crucial role in driving coaching institutions by revolutionizing the way coaches teach, analyze, and enhance player performance.
North America region to maintain its dominance by 2032
On the basis of region, the North America segment held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the cricket analysis software market revenue. The market for cricket analysis software in the North America region is influenced by factors such as the adoption of technology in sports, the emergence of professional T20 leagues, and the desire for data-driven insights in coaching and team management. However, Asia-Pacific is expected to witness the fastest CAGR of 24.1% from 2023 to 2032 and is expected to enhance the market growth during the forecast period, owing to the growth of digitalization and internet penetration in the region.
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Leading Market Players: -
- SportsMechanics
- Nacsport
- Catapult Sports
- CricViz Ltd
- Cricket-21
- IBM Corporation
- SAP SE
- Genius Sports Group
- Oracle Corporation
- SAS Institute Inc.
The report provides a detailed analysis of these key players in the cricket analysis software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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