Overview and Scope
AI in sports refers to the process of using artificial intelligence techniques, such as machine learning and computer vision, to improve various aspects of sports performance, training, and fan engagement. It involves the use of algorithms to analyze and process data from various sources, including sensors, video footage, and other sources of information, to provide insights and recommendations to athletes, coaches, and fans.
Sizing and Forecast
The ai in sports market size has grown exponentially in recent years. It will grow from $1.85 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 31.2%. The growth in the historic period can be attributed to performance optimization demands, fan engagement enhancement, injury prevention and management, strategic decision-making, market competitiveness.
The ai in sports market size is expected to see exponential growth in the next few years. It will grow to $6.69 billion in 2028 at a compound annual growth rate (CAGR) of 28.8%. The growth in the forecast period can be attributed to evolution of sports analytics, enhanced athlete development programs, global expansion of ai technologies, growing emphasis on data security, integration with wearable technologies. Major trends in the forecast period include expansion of ai in esports, ai-based sports betting and predictive analytics, ethical use and data privacy concerns, collaboration with sports science and medicine, customized fan experiences through ai.
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Segmentation & Regional Insights
The ai in sports market covered in this report is segmented –
1) By Solution: Software, Hardware
2) By Game Type: Football, Cricket, Tennis, Basketball
3) By Deployment: Cloud, On-Premise
4) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Data Analytics, Other Technologies
5) By Application: Game Planning, Game Strategies, Performance Improvement, Injury Prevention Sports Recruitment, Others Applications
North America was the largest region in the AI in sports market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global AI in sports market report during the forecast period. The regions covered in the ai in sports market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for wearable devices is expected to propel the growth of AI in the sports market going forward. Wearable devices refer to electronic devices that can be worn on the body and are designed to collect and monitor data related to health, fitness, and activity levels. AI in sports often uses wearable devices to track and monitor athletes’ performance data and provide insights into an athlete’s performance and identify areas for improvement. For instance, in January 2021, according to the Gartner Inc. prediction, global end-user spending on wearable devices will reach $81.5 billion in 2021. Additionally, 533.6 million AI medical devices were shipped in 2021. Therefore, the increasing demand for wearable devices is driving the growth of AI in the sports market.
Key Industry Players
Major companies operating in the ai in sports market report are International Business Machines Corporation, SAP SE, SAS Institute Inc., Sportradar AG, Amazon Inc., Microsoft Corporation, Apple Inc., Opta Sports company, Catapult Group International Ltd., Trumedia Networks, Salesforce.com Inc., Synergy Sports Technology, Krossover, The Chyron Corporation, FocusMotion, VeoRide Inc., Athos, Arccos Golf LLC, Square Off, Kitman Labs, Zone7 Technologies Inc, KINEXON Sports & Media GmbH, Second Spectrum Inc., Zebra Technologies India Pvt. Ltd., Facebook Inc., Stats Perform, ChyronHego Corporation, ShotTracker Inc., PlaySight Interactive Inc., Hawk-Eye Innovations Ltd.
The ai in sports market report table of contents includes:
1. Executive Summary
- AI In Sports Market Characteristics
- AI In Sports Market Trends And Strategies
- AI In Sports Market – Macro Economic Scenario
- Global AI In Sports Market Size and Growth
.
- Global AI In Sports Market Competitive Benchmarking
- Global AI In Sports Market Competitive Dashboard
- Key Mergers And Acquisitions In The AI In Sports Market
- AI In Sports Market Future Outlook and Potential Analysis
- Appendix
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