The Generative Artificial Intelligence (AI) in Sports Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Generative Artificial Intelligence (AI) in Sports Global Market Report 2024, The generative artificial intelligence (AI) in sports market size has grown exponentially in recent years. It will grow from $0.17 billion in 2023 to $0.22 billion in 2024 at a compound annual growth rate (CAGR) of 30.7%. The growth in the historic period can be attributed to data center expansion, rise of cloud gaming services, autonomous vehicles and adas, edge computing and iot growth, blockchain and cryptocurrency.
The generative artificial intelligence (AI) in sports market size is expected to see exponential growth in the next few years. It will grow to $0.58 billion in 2028 at a compound annual growth rate (CAGR) of 27.8%. The growth in the forecast period can be attributed to advancements in computer vision, customized training programs, real-time decision support, expanding fan experiences, global sporting events. Major trends in the forecast period include integration with emerging technologies, technological advancements in wearables, sponsorship and revenue opportunities, injury prevention and rehabilitation, wearable technology integration.
The growing number of sports injuries is expected to propel the growth of generative artificial intelligence (AI) in the sports market going forward. A sports injury is any harm or damage to the body that occurs during sports, exercise, or athletic activities. Generative AI can prevent sports injury by providing realistic training scenarios, allowing them to practice proper technique and identify potential injury risks in a safe, controlled environment. For instance, in 2023, according to the National Safety Council, a US-based nonprofit organization promoting health and safety, the total number of sports and recreational injuries increased by 11% from 3,231,885 in 2021 to 3,631,970 in 2022. Therefore, the growing number of sports injuries is driving the growth of generative artificial intelligence (AI) in the sports market.
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The generative artificial intelligence (ai) in sports market covered in this report is segmented –
1) By Sports Type: Football, Tennis, Cricket, Basketball, Hockey, Golf, Other Sports
2) By Deployment: On-premises, Cloud-based
3) By Application: Performance Analysis, Game Strategies, Sports Equipment Design, Other Applications
Major companies operating in the generative artificial intelligence (AI) sports market are focusing on strategic collaborations to deliver digital products and services to gain a competitive edge in the market. Strategic collaboration is a formal or informal agreement between two or more parties to work towards a shared goal while maintaining their independence. For instance, in August 2023, Globant, a US-based software development company, and LaLiga Tech, a Spain-based company that provides digital tools to the sports and entertainment industry, collaborated with Microsoft to create a range of artificial intelligence (AI) services for sports technology. This partnership aimed to combine the knowledge of the sports industry with that of the IT sector, taking advantage of new technologies such as AI and blockchain. The collaboration aims to improve available sports data and enhance the experience for millions of fans worldwide. Microsoft is a US-based technology corporation that provides generative AI platforms for various industries.
The generative artificial intelligence (ai) in sports market report table of contents includes:
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