Dublin, Dec. 04, 2019 (GLOBE NEWSWIRE) -- The "Sports Management Software Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global sports management software market was valued at USD 3.96 billion in 2018, and it is expected to reach USD 9.29 billion by 2024, while registering a CAGR of 14.82% during 2019-2024.
The growing options of cloud-based services is attracting clubs and teams with a small economic structure to invest in the market. SaaS is also providing significant advantages in the management of the academy of a sports club, and mainly it contributes to reducing maintenance costs and adds flexibility during adaption which can become an ongoing trend for the market.
- Growing investments in sport industry is driving the market. Most of the governments around the world have understood the potential and opportunity in the sports industry. Not only are these governments making policies that are not only helping in infrastructure development for sports but also in attracting investors into the sector.
- Data security issue is restraining the market to grow. Sports organizations hold sensitive data, like team game plans, athlete negotiation strategies, sponsorship deals, medical records, and payroll information. The potential access to this information, as well as a lack of uniform security policies, makes sports organizations a soft target to cybercriminals, hacktivists, and nation-state actors.
Key Market Trends
Marketing Management to Witness Market Growth
- Sports marketing focuses on the promotion of teams and their events and tying in promotions of other products and services into sports events. The clients in sports marketing may be teams, associations, service providers, or product brands.
- Companies are also focusing on omnichannel targeted marketing. Social channels, such as Instagram and Twitter, are present where fan communities can be maintained, and this advertising space can also be used to present a humanized version of athletes and round-the-clock access to the sport.
- Products endorsed by athletes' appeal to a broad consumer base. The advertisement of products through television sporting events is a tried-and-true marketing technique. For instance, major events, like the International Olympics or the FIFA World Cup, are advertised and promoted through multiple platforms to ensure viewers for the events.
- Many companies are into promoting various sports or sports players through different advertising techniques. In 2018, Coca-Cola advertised the drink with the slogan Have a Coke and a smile. In the advertisement, footballer Joe Green is seen signing an autograph for a young fan.
- The IOC coordinates Olympic marketing programmes with the objective to generate revenue which is to be distributed throughout the entire Olympic Movement including the OCOGs, the National Olympic Committees (NOCs) and their continental associations. The revenue generated to olympic committee is by various factors such as Olympic Partner (TOP) programme marketing, broadcast marketing partnerships and domestic sponsorships, which increases its revenue on every olympics.
North America to Account for a Significant Market Share
- North America is home to various sports, such as Soccer, Rugby, Hockey, Basketball, and Baseball, as well as sports leagues such as National Football League being the highest revenue generator. The popularity of other sports leagues, such as Major League Baseball, National Basketball Association, National Hockey League, is also among the significant factors driving the market.
- In July 2018, the Governing body of Table Tennis Canada and SportLoMo, software provider of sports technology, partnered to introduce new technology features across all facets of the sport from online registration, membership and game management to player participation. This highlights the growing demand for sports management software market in Canada.
- In Canada, RAMP Registration is one of the most common online registration platform for sport, powered by RAMP Interactive. It is backed by low merchant rates, which makes it a preferred partner for minor sports organizations.
- In United States, Active Network Sports is helping league and club administrators, such as Sammamish Rowing Associations, Clifton Park Youth Hockey Association, and Upper Makefield Basketball to automate and streamline its sports registrations for time saving, which increases the market growth in this region.
The sports management software market is moving towards fragmented market as most of the companies operating in the market are not that big. However, with growing market opportunities, many big players are also entering the market. Therefore, the competitive rivalry is growing with time and advancement. Key players are Omnify Inc., Sports Engine Inc., Jonas Club Software, etc.
Recent developments in the market are:
- May 2019 - SAP SE partnered with Accenture to accelerate the development of the SAP C/4HANA suite and build industry-specific solutions that elevate digital customer experiences. This solution has wide applications in industries, such as marketing, sales, or service industries, like sports management.
- Jan 2019 - Sports Engine Inc. launched SportsEngine HQ, an expansion to the SportsEngine software platform, which offers free access to tech tools for youth sports organizations and a suite of premium tools for league and club administrators.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Investments in Sport Industry
5.2 Market Challenges
5.2.1 Data Security Issue
6 MARKET SEGMENTATION
6.1 By Deployment
6.2 By Application
6.2.1 Event Management and Scheduling
6.2.2 Marketing Management
6.2.3 Client Management
6.2.4 Other Applications
6.3.1 North America
6.3.4 Latin America
6.3.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Omnify Inc.
7.1.2 Sports Engine Inc.
7.1.3 Jonas Club Software
7.1.5 Active Network LLC
7.1.7 Stack Sports
7.1.9 SquadFusion Inc.
7.1.10 Jersey Watch
7.1.11 SAP SE
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/rgbvxo
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