The Global Sports Software Market is estimated to reach USD 10.31 billion by 2024. The market is expected to grow rapidly during the forecast period, as companies in the sports industry are facing a cut-throat competition to host events internationally to boost their profit.
The top industry players including IBM, SAP, Blue Star Sports and Daktronics are using technological advancements to capture the market through providing online registrations and sponsorships used for securing the media rights. The primary drivers for the expansion of the sports software market include the advancement in technology and the huge demand for software that makes the tasks seamless and less time consuming for efficient management of the events.
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The massive investment in sports infrastructure has been increasing for the development of stadiums, clubs, association, complexes and leagues. For instance, the government of Russia allotted USD 10 billion for hosting the FIFA 2018 World Cup. These massive investments in sports industry have been contributing to the growing requirement for automation during the forecast period
Sports software helps organizers to automate their administrative work and manage players by offering a broad range of features such as ease of learning, user-friendly, advanced games management technology. Sport management software saves time, increase funds, and reduces the errors coupled with rising demand for automation is anticipated to boost the growth of the market during the forecast period. The sports software industry is expected to grow at a CAGR of 13.1% from 2017 to 2024.