Player Tracking System Market Variables, Trends & Scope
The global player tracking system market size is expected to reach USD 10.70 billion by 2025, registering a CAGR of 25.4% from 2019 to 2025, according to a new report by Grand View Research, Inc. The continued emphasis of the coaching staff of prominent teams on tracking and enhancing the performance of players is expected to drive the growth of the market. Efforts aimed at preventing injuries to players are also necessitating the use of an appropriate player tracking system, thereby contributing to the growth of the market.
GPS-based tracking systems are expected to witness a high rate of adoption over the forecast period. The ease of installation, affordability, and availability are increasingly encouraging various sports teams to utilize GPS-based tracking systems for practice sessions as well as during tournaments. Many colleges and universities have started using GPS trackers for their football and rugby teams owing to similar reasons. For instance, Baylor University from Texas, University of Oregon, University of North Carolina, and Vanderbilt University from Nashville are some of the educational institutes in the U.S. that are using GPS trackers to monitor the performance of their players.
Asia Pacific is emerging as one of the promising regional markets for player tracking system companies. Several sports leagues in the region are increasingly adopting different kinds of tracking systems for players. For instance, the Board of Control for Cricket in India (BCCI) had signed a deal with STATSport Group, asports tech company based in the U.K., to implement a GPS-based player tracking system for the Indian cricket team ahead of the ICC Cricket World Cup 2019 to measure physical metrics of individual players.
However, the market is getting highly competitive as new entrants are foraying into the market with innovative and customized products. For instance, Gpexe System and Catapult Sports have launched wireless charging GPS trackers for players. These devices can be paired with smartphones to track the players in real time using dedicated apps. Moreover, market players are also forming strategic alliances with sports teams to gain a competitive advantage in the market. For instance, in March 2019, Sonda Sports announced a collaboration with Lions Rugby Co., a South African rugby team, to provide GPS tracking system. Similarly, in April 2019, Kinexon partnered with Brose Bamberg, a German basketball team from Bamberg, North Bavaria, to provide a sport
s tracking system.
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Further key findings from the report suggest:
• The services segment is expected to exhibit the highest CAGR over the forecast period owing to the growing demand for application-based monitoring systems
• The wearables segment is expected to register a high growth rate owing to the affordability and easy availability of GPS trackers
• The team sports segment is expected to exhibit the highest CAGR owing to the continued adoption of latest tracking technologies
• The Asia Pacific regional market is anticipated to register a CAGR of over 28% owing to the continued rollout of high-speed internet networks and proliferation of smart devices in the sports industry
• Some of the prominent players of player tracking system market include ChyronHego Corporation, Stats LLC, STATSports Group, and SPT Group Pty Ltd., among others.
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