Artificial intelligence (AI) in sports refers to the use of artificial intelligence and machine learning algorithms to analyse player and team performance. AI applications in sports include player and team evaluation, health monitoring, fan engagement, training assistance, and game strategies. AI helps sports organisations gain valuable insights into their athletes’ performance by tracking important biometrics like speed, distance covered, heart rate etc. during games and practice sessions. This data is then analysed to understand strengths and weaknesses, predict injuries, and devise customized training programs. Additionally, AI is being utilized to understand fan sentiments, personalize customer experiences, and offer personalized recommendations.
The Global Artificial Intelligence in Sports Market is estimated to be valued at US$ 30.98 Bn in 2024 and is expected to exhibit a CAGR of 26% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Artificial Intelligence in Sports are Amazon Web Services, Inc., Apple Inc., Catapult Group International Ltd, Fujitsu Limited, Google LLC, IBM Corporation, Intel Corporation, Microsoft Corporation, Movella Holdings Inc., NEC Corporation, Oracle Corporation, Perform Group, Qualcomm Technologies, Inc., Salesforce.com Inc., and SAS Institute, Inc. Majority of these players are focusing on partnerships and product innovations to gain a competitive edge in the market.
The key opportunities in the Artificial Intelligence in Sports Market Size include performance analysis of players, personalized digital experiences for fans, and predictive analysis of injuries. AI has the potential to radically transform the way teams analyze player performance, predict injuries, and engage with fans. Technology companies and sports organizations are investing heavily in AI to gain actionable insights into player health and performance.
The global artificial intelligence in sports market is expected witness high growth owing to increased adoption in North American and European countries. However, the market is still in a nascent stage in Asian countries. With growing internet and smartphone penetration, AI in sports is expected get widely adopted across developing nations in the upcoming years. Several regional and national sports leagues are incorporating AI solutions to improve the overall experience for fans and players.
Market Drivers
The major driver for growth of artificial intelligence in sports market is increased need for data analysis in player performance evaluation and injury prediction. Sports organizations collect huge amounts of data from games and training sessions but lack the tools and skills to analyse it. AI helps make sense of this unstructured data through machine learning algorithms. Detailed data-driven insights allow teams to optimise player performance, develop individualized training programs, and reduce injuries. This drives the demand for AI platforms and solutions in the sports industry.
PEST Analysis
Political: Artificial intelligence in sports is affected by data privacy laws as it involves collection and processing of large amount of user data. Stricter regulations can limit the scope of Artificial Intelligence in Sports Market Analysis applications.
Economic: Growing investment in AI startups and adoption across major sports leagues indicates positive economic outlook. However, recession can impact sports marketing budgets and thus demand for AI solutions.
Social: Younger generations are more receptive to new technologies. AI enhances viewer experience and engagement with sports. Yet, job displacement concerns remain for roles like scouting.
Technological: Advancements in areas like computer vision, machine learning and predictive analytics are improving the capabilities of AI systems. Edge computing and 5G networks will help real-time analysis of player/team performance during matches.
Geographical concentration of market in terms of value
North America accounts for the largest share of the global artificial intelligence in sports market due to strategic investments by technology giants and professional sports associations in the region. Increased focus on analytics and enhanced fan experience has boosted the adoption of AI-based services among American football, baseball, basketball and ice hockey leagues.
Fastest growing region
Asia Pacific is poised to experience the fastest growth during the forecast period supported by expanding internet and smartphone user base in China and India. Rising investments to modernize sports infrastructure also provides impetus to AI deployment across various levels in different sports. Organizations are leveraging computer vision and predictive algorithms to analyze gameplay videos, identify player strengths and weaknesses as well as detect irregular betting patterns.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Ravina Pandya
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