DUBLIN–(BUSINESS WIRE)–The “Sports League Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Deployment and Application and Geography” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market was valued at US$ 556.60 million in 2019 and is projected to reach US$ 907.25 million by 2027; it is expected to grow at a CAGR of 6.4% from 2020 to 2027.
Geographically, the sports league software market is segmented into five major regions – North America, Europe, APAC, MEA, and SAM. North America held the largest share of the global sports league software market owing to the rising digitalization trend, the advent of several sports leagues, and the growing investments in the region. In 2019, the region contributed ~37% revenue share to the overall sports league software market. In terms of market share, Europe and APAC held the second and third position respectively in 2019. The increasing adoption of the cloud deployment model coupled with rising investment in technologies used in the sports industry and growing professional sports leagues are among the key factors expected to fuel the demand for sports league software in all the geographies during the forecast period, i.e. 2020 to 2027.
Europe is a crucial region for the growth of the sports league software market during the forecast period owing to the increasing number of companies investing in advanced sports league software. The region is characterized by the presence of well-developed nations such as Germany, the UK, and France, which are the key markets for the adoption and growth of sports league software. APAC is anticipated to be the fastest-growing region with an impressive CAGR of 8.1% during 2020-2027. APAC comprises various developing economies such as China, India, and several southeast countries. The rising popularity of various sports, economic growth, the surge in the number of Internet-accessible devices, and growing number of sports clubs and leagues are the major factors that are anticipated to offer ample growth opportunities for sports league software market players in APAC.
Impact of COVID-19 on Sports League Software Market
As per the latest WHO situation report dated 9th August 2020, the overall COVID-19 confirmed cases in the Asia Pacific region crossed 2.96 million with more than 61,000 deaths. Mobility restrictions, cancellation/postponement of various big sports events such as Tokyo 2020 Olympics, and restrictions on group/sports activities due to COVID-19 outbreak have affected the overall sports industry in this region. The COVID-19 outbreak has also adversely impacted the overall competitiveness, job market, and economic growth of many countries in the region.
Additionally, the growing caution among countries such as the US, Australia, and Canada to attend any sports events happening in the Asia Pacific region is further putting pressure on sports industry growth in the region. Also, there is an uncertainty around organization of various big sports events such as Indian Premier League (IPL), Nippon Professional Baseball (NPB), Australian Football League (AFL), and National Rugby League (NRL). Hence, the unpredictability regarding the status of COVID-19 outbreak in coming future especially in the APAC region, where the confirmed cases graph is going upwards may affect the growth of sports league software market in coming quarters owing to reduced demand among clubs and leagues.
Reasons to Buy:
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
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Market Dynamics
Drivers
- Rising Number of Sports Clubs and Leagues Across the Globe
- Trend of Digital Transformation in Sports Industry
Restraints
- Availability of Free Software Options and Lack of Awareness
Opportunities
- High Adoption among Small and Medium-Sized Enterprises (SMEs)
Future Trends
- 5G and Cloud-based Solutions to Open New Growth Possibilities
Companies Mentioned
- Stack Sports
- Engage Sports, LLC
- EZFacility
- Jersey Watch
- LeagueRepublic
- Logismico LLC (TeamTracky)
- PlayyOn, Inc.
- SportsEngine Inc.
- ACTIVE Network, LLC
- TeamSnap, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/y12lcf