Growing incidence of data security and consumer data privacy and security measures is expected to hamper the market growth.
PORTLAND, PORTLAND, OR, USA, September 22, 2022 /EINPresswire.com/ — Rising investments by governments and private companies in the sports industry and the digital revolution in sports facilities have boosted the growth of the global market sports management software market.
However, the lack of data security and privacy is hampering the growth of the market. On the contrary, the ease of event management and cloud-based services offered by the software opens up lucrative opportunities in the future.
By component, the software segment held the largest share in 2021, accounting for more than two-thirds of the global sports management software market, due to the inclusion of various features such as online registration and a increased investment in the sports industry.
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However, the services segment is estimated to register the highest CAGR of 16.4% during the forecast period owing to the many benefits offered by the services provided such as workout schedule management, tracking fitness and increased fan engagement.
Based on the deployment model, the cloud segment is expected to show the highest CAGR of 16.6% from 2022 to 2031, due to the easy access to sports data by many sports organizations using devices such as mobiles, laptops, tablets and others.
However, the on-premises segment held the largest share in 2021, contributing more than half of the global sports management software industry, owing to the increase in adoption of smart technology in passenger cars by automotive OEMs and the current fleet of passenger cars across the globe. The report also includes analysis of LCV and HCV segments.
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By application, the customer management segment is expected to show the highest CAGR of 16.9% during the forecast period as this software helps in building relationships with customers and streamlining sales. However, the event management and planning segment dominated the market in 2021, accounting for more than a third of the market, due to the ease offered by this software in managing tournaments and leagues.
By region, the global sports management software market in North America dominated in 2021, accounting for more than a third of the market, driven by advancements in technologies in sports leagues, facilities, and clubs. However, the Asia-Pacific market is expected to register the highest CAGR of 16.7% during the forecast period, owing to an increase in fan engagement.
This report provides a detailed profile of some key market players and analysis of the sports management software market including Omnify, NBC Sports Group (Sports Engine), Oracle Corporation, Jonas Club Software, Active Network, Stack Sports, League App, Squad Fusion. , Jersey Watch and SAP SE. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which are propelling the growth of the global sports management software market.
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