Global Artificial Intelligence in Sports Market

Artificial Intelligence in Sports Market Size, Share, Growth Analysis, By Component(Software, Service), By Deployment(On-premise, Cloud), By Technology(Machine Learning, Natural Language Processing), By Application(Game Planning, Game Strategies), By Game(Football, Cricket) - Industry Forecast 2024-2031

Report ID: SQMIG45A2302 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 150 | Figures: 75

Artificial Intelligence in Sports Market Insights

Global Artificial Intelligence in Sports Market size was valued at USD 2.2 billion in 2022 and is poised to grow from USD 2.86 billion in 2023 to USD 23.33 billion by 2031, growing at a CAGR of 30% in the forecast period (2024-2031).

Artificial intelligence is being utilized in the sports industry to analyze datafrom sports events and other applications such as game management, planning, coaching, etc. Advancements in artificial intelligence technology have opened up limitless opportunities for this technology and this is how it has found its way into the sports industry. Athletes and sports organizers are both leveraging artificial intelligence technology to improve the overall experience for fans. AI is also being used to optimize fan engagement by giving them a personalized experience. Growing participation in fantasy leagues is also a key trend that will augment the demand for artificial intelligence in sports over the coming years. On the contrary, data privacy and adoption challenges are slated to emerge as the major constraints for artificial intelligence in sports market development in the future.

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Artificial Intelligence in Sports Market size was valued at USD 2.2 billion in 2022 and is poised to grow from USD 2.86 billion in 2023 to USD 23.33 billion by 2031, growing at a CAGR of 30% in the forecast period (2024-2031).

Artificial intelligence in sports providers should focus on fan engagement to find new applications of AI and help personalize the game experience for fans. Artificial intelligence in sports providers can work closely with teams and coaches to provide efficient training for their athletes and keep them performing at their best of capacity. Sports teams can also run simulations for different scenarios using AI to prepare strategies and prepare players for all situations. 'Stats Perform', 'SAP SE', 'Tonbo Imaging', 'Salesforce.com Inc.', 'Kitman Labs', 'Catapult Group International Limited.', 'IBM Corporation', 'Zebra Technologies', 'Opta Sports', 'Facebook', 'Microsoft Corporation', 'Sportradar AG', 'TruMedia Networks', 'TrackMan', 'Meta Platforms Inc.', 'KINEXON', 'SAS Institute Inc.'

Use of artificial intelligence in sports provides proper metrics to measure the performance of athletes continuously and generate highly meaningful data to make informed decisions. AI can easily analyze large volumes of data and this fast track the process of analyzing the performance of an athlete.

AI-driven Broadcasting and Content Creation: Artificial intelligence in sports companies should target broadcasting companies to help enhance their operations by utilizing AI technologies. Use of AI to automate cameras to improve live broadcasting and to automate editing process are some key areas where artificial intelligence in sports companies should innovate.

North America is predicted to dominate the artificial intelligence in sports demand outlook across the forecast period. Rapid adoption of novel artificial intelligence technologies is the key factor helping North America maintain its dominance in the artificial intelligence in sports market. The United States and Canada are anticipated to be the leading markets for artificial intelligence in sports companies in the future. Presence of key technology companies investing in AI research and growing acceptance of AI in sports are other factors that could help North America maintain its dominance through 2031.

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