The global sports app market, valued at USD 3.66 billion in 2022, is projected to grow at a CAGR of 10.9% through 2030, reaching USD 8.03 billion. Main growth drivers include increasing demand for video streaming apps, smartphone uptake, and cloud technologies. The U.S. and Asia Pacific regions are key contributors, with rapid technological advancements and unique user interfaces supporting further expansion. Challenges like rising subscription costs are countered by innovations and investments in live sports broadcasting services.
The global sports app market was valued at approximately USD 3.66 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2030. This expansion is primarily driven by increased demand for video streaming sports applications, particularly in the United Kingdom and the rising adoption of cloud technology worldwide. Additionally, the growing popularity of smartphones, especially in the Asia Pacific region, further supports this growth.
The U.S. market is expected to be a crucial driver due to the high demand for user-friendly sports platforms. The proliferation of interactive software, which includes high-definition live streaming, is also facilitating market growth. However, rising subscription costs may pose challenges. Companies are focusing on multi-access app integrations to boost growth, and investments made by firms, such as ESPN for live sports updates, are enhancing market dynamics.
The demand for user-friendly applications with features such as folder browsing and offline capabilities is propelling growth. The interests in fantasy sports and advanced functionalities like loyalty programs and gamification are becoming crucial for key industry players. Concerns surrounding live chatbots and AI-based tools for predictions are further stimulating market advancement. Moreover, analytical tools on Android and iOS platforms are also enhancing app performance, aiding growth.
The COVID-19 pandemic had a notable impact on the sports app market, causing disruptions that halted many sports events. This resulted in a temporary fluctuation in app demand as sporting events were canceled or postponed. However, post-pandemic recovery has led to increased demand for apps offering live streaming and real-time updates, driving market revitalization.
In 2022, the Apple iOS store held a significant market share of over 47%, driven by demand for high-interactivity applications in the U.S. and UK. The integration of advanced 3D features and better security also contributed to this growth. The stringent quality checks at the iOS App Store enhance user trust in the apps available there.
The Google Play Store is expected to experience the fastest growth rate of 12.1% during the forecast period. This is attributed to its open ecosystem and the availability of customizable apps that facilitate multitasking, making it appealing to a wider audience. The vast app offerings in the Play Store contribute to their growing popularity in the coming years, supported by its large user base.
North America led the sports app market with over 36% share in 2022, primarily due to a surge in demand for live streaming wrestling content. Advances in content management apps and AI-based streaming services are further driving growth. Enhanced accessibility via social media and the rise of over-the-top (OTT) content is expected to contribute positively to the market.
The Asia Pacific region is projected to see significant growth, with a 12.3% CAGR throughout the forecast period. This is due to a heightened demand for cloud-based apps, especially in China and India, alongside an increase in digital payment options, fostering market growth. The trend towards subscription-based models is also becoming prominent, particularly in China.
To accommodate the global demand for sports streaming services, major players are focusing on live broadcast capabilities for popular leagues and events. Companies are developing applications with user-friendly interfaces, offering various replay and highlight options for fans. New entrants continue to emerge, illustrating the competitive environment, such as Amazon, which plans to extend its Prime membership with integrative app features for live sports streaming.
Original Source: www.grandviewresearch.com
