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.
According to our latest market study on “Sports League Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Deployment (Cloud-Based and On-premises) and Application (Small & Medium Enterprises and Large Enterprises),” 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.
Get Sample PDF Brochure at https://www.theinsightpartners.com/sample/TIPRE00011846
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.
Get COVID-19 Sample at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00011846
High Adoption among Small and Medium-Sized Enterprises (SMEs)
Presently, small and medium-sized enterprises (SMEs) which include national and local governing bodies, clubs, leagues and individual users held a substantial share of the sports league software market owing to the emergence of a large number of such organizations at national, state, and local levels in all the major geographic regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America. Hence, it is also anticipated to be the fastest growing application segment in the global sports league software market from 2020 to 2027. On a global level, SMEs are increasingly moving towards digital transformation to improve operational efficiency and reduce costs by utilizing solutions such as sports league software. Hence, SMEs offer a huge growth opportunity for players operating in the global sports league software market. In order to tap this potential segment, companies are investing in marketing activities to spread awareness and generate interest regarding the potential benefits of using sports league software solutions. Various key companies such as Jersey Watch, ENJORE Srl, LeagueRepublic, Logismico LLC (TeamTracky), PlayyOn, Inc. are offering cloud-based/web-based sports league software solutions/plans at affordable prices for small and medium sized organizations. Hence, the rising trend of digitalization among SMEs to improve operational workflow and reduce costs coupled with availability of a large number of sports league software solutions is expected to fuel the adoption of sports league software solutions among SMEs and thus provide growth opportunities to the players during the forecast period of 2020 to 2027.
The global sports industry is going through a paradigm shift with fast evolving sports technology landscape, high demand for digital content, easy accessibility, and high demand for enhanced customer experience. All these factors are driving the growth of sports market in all the key geographic regions such as North America, Europe, and Asia Pacific. All the key components of the market including media rights, gate revenues, sponsorships, and merchandising are experiencing an impressive growth across various countries. National Football League (NFL), Major League Baseball (MLB), National Basketball Association (NBA), English Premier League (EPL), National Hockey League (NHL), UEFA Champions League, Nippon Professional Baseball (NPB), Kontinental Hockey League (KHL), Russian Premier League (RPL), and Indian Premier League (IPL) are some of the major leagues across the world. With the increasing momentum around women’s sports owing to initiatives such as US women’s basketball and Women’s T20 World Cup, the number of women professional leagues is growing fast to boost women’s sports as a diversity and inclusion platform. In addition to this, the growing popularity of esports among customers is further driving the global sports industry growth. As per Deloitte insights 2018, the global esports market is anticipated to reach US$1.5 billion revenue with more than 600 million fans. The positive growth outlook of esports industry is driving the formation of esports leagues across regions such as North America and Europe. With these developments, the demand for managing players, teams, tournaments and various other aspects of club and league management is also rising at an impressive rate. All these developments in the global sports industry is opening unparalleled opportunities for existing as well as new professional leagues, corporate sponsorships, franchises, and sports clubs. Hence, the number of clubs, leagues, and governing bodies is increasing at a fast pace across countries and thus driving the market demand for sports league software.
Direct Purchase this Report at https://www.theinsightpartners.com/buy/TIPRE00011846
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/sports-league-software-market
More Research: https://daulatguru.com/author/theinsightpartners/
