Surge in investment by governments and private enterprises in the sport industry and digital revolution in sport facilities have boosted the growth of the global Sports Management Software Market.However, dearth of data security and privacy hinders the market growth. On the contrary, ease of event management and cloud-based services offered by the software opens lucrative opportunities in the future.
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By application, the client management segment is expected to manifest the highest CAGR of 16.9% during the forecast period, as this software aids in building client relationship and streamlines sales.However, the event management and scheduling segment dominated the market in 2021, accounting for more than one-third of the market, due to the ease provided by this software in managing the tournaments and leagues.
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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 inclusion of various functionalities such as online registration and rise in investments in sports industry.However, the services segment is estimated to register the highest CAGR of 16.4% during the forecast period, owing to numerous advantages offered by services provided such as training schedule management, fitness tracker, and increased fan engagement.
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By region, the global sports management software market across North America dominated in 2021, accounting for more than one-third of the market, due to advancements of technologies in sports leagues, facilities, and clubs. However, the market across Asia-Pacific is expected to register the highest CAGR of 16.7% during the forecast period, due to rise in fan engagement.
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Covid-19 Scenario:
- The pandemic impacted the demand for sports management software positively.
- Since the Covid-19 pandemic, the sport industry focused more on emerging technologies to manage events and leagues using AI-powered solution, apps-based, and cloud-based services for several operations.
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