The ai in sports market 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 observed in the historical period can be attributed to various factors, including the demand for performance optimization, enhancements in fan engagement, efforts in injury prevention and management, the use of AI for strategic decision-making in sports, and the drive for increased market competitiveness.
The ai in sports market 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 anticipated growth in the forecast period can be attributed to several factors, including the evolution of sports analytics, improvements in athlete development programs through AI, the global expansion of AI technologies in sports, a heightened focus on data security, and increased integration with wearable technologies. Noteworthy trends expected in the forecast period encompass the expanded use of AI in esports, the application of AI in sports betting and predictive analytics, considerations for ethical use and data privacy, increased collaboration between AI and sports science and medicine, and the customization of fan experiences through AI technologies.
The anticipated growth of AI in the sports market is closely tied to the increasing demand for wearable devices. Wearable devices, electronic devices designed to be worn on the body, play a crucial role in collecting and monitoring data related to health, fitness, and activity levels. In the sports industry, AI often utilizes wearable devices to track and monitor athletes' performance data, offering valuable insights into their performance and identifying areas for improvement. According to a prediction by Gartner Inc. in January 2021, global end-user spending on wearable devices was expected to reach $81.5 billion in 2021. This significant demand for wearable devices contributes to the growth of AI in the sports market, facilitating enhanced performance tracking and analysis.
The rise in online gaming is another key factor propelling the growth of artificial intelligence (AI) in the sports market. Online gaming, involving playing video games over the internet, often in a multiplayer environment, has witnessed a substantial increase in participation. AI plays a pivotal role in creating more immersive and engaging online gaming experiences by facilitating realistic and dynamic interactions between virtual characters and environments. This enhances the overall gaming experience, making it more enjoyable and challenging for players. According to Uswitch Limited in 2023, there is an estimated 1.17 billion people globally who consistently play some form of online game. The surge in online gaming activities is a driving force behind the growth of AI in the sports market, as the technology contributes to the evolution of virtual sports experiences.
Technological advancements are a key and prevailing trend in the AI in sports market, with major companies actively embracing new technologies to maintain their positions. In October 2022, Epoxy ai, a US-based AI-driven sports technology solutions company, introduced its Audience Cloud technology. This innovative sports technology provides critical insights to gaming operators and sports media organizations, enabling them to better understand customer interactions with their products over time as consumer preferences change with seasons and fandoms evolve. The Audience Cloud utilizes custom-built AI to continuously capture a comprehensive picture of sports fan behavior, facilitating improved analysis for sports gaming and media. The technology gathers user data from diverse sources, including betting, viewing trends, and various contextual indicators.
Major companies operating in the AI in sports market are directing their efforts towards technological advancements, including the development of AI-powered athletes, to fortify their market positions. AI-powered athletes involve monitoring and analyzing athletes' performance using artificial intelligence, leading to optimized training programs, identification of improvement areas, and overall enhancement of athletic performance. In September 2023, Behaviol Pty Ltd., an Australia-based private company, launched the META11 Fantasy tournament, featuring the world's first-ever free-to-play, AI-powered cricket fantasy game. The tournament prioritizes player well-being and enjoyment, with AI-powered athletes designed to adapt and learn, accurately predicting game outcomes and crafting intricate narratives for characters and their stories.
In February 2022, Slinger Bag Inc., a US-based company specializing in innovative game improvement technologies, acquired Gameface.AI for an undisclosed amount. Through this strategic acquisition, Slinger Bag Inc. aims to provide more advanced and personalized training and coaching solutions, expand market reach, gain a competitive edge in the sports technology market, and differentiate itself from competitors. Gameface.AI, an Australia-based artificial intelligence software company, is focused on developing an AI platform for sports analytics, contributing to the advancement of AI applications in the sports industry.
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.
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. The countries covered in the ai in sports market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The main categories of solutions in AI in sports include software, services, and hardware. Software encompasses the intangible components of a computer system, including programs, data, and instructions that guide the computer's operations. It is applied across various sports such as football, cricket, tennis, basketball, baseball, and others. These solutions may be deployed through cloud or on-premise setups and utilize technologies such as machine learning, natural language processing, computer vision, data analytics, among others. The applications of AI in sports span game planning, strategies, performance improvement, injury prevention, sports recruitment, and more.
The AI in sports market research report provides AI in sports market statistics, including AI in sports industry global market size, regional shares, competitors with a AI in sports market share, detailed AI in sports market segments, market trends and opportunities, and any further data you may need to thrive in the AI in sports industry. This AI in sports market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The AI in the sports market consists of revenues earned by entities by providing AI in sports services such as athlete tracking and analysis, injury prevention and rehabilitation, game strategy optimization, broadcast production, and ticketing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in sports market also includes sales of wearable technology devices, smartwatches, fitness trackers, athlete tracking and analysis tools, and AI sports equipment, which are used in providing AI in sports services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The ai in sports market 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 anticipated growth in the forecast period can be attributed to several factors, including the evolution of sports analytics, improvements in athlete development programs through AI, the global expansion of AI technologies in sports, a heightened focus on data security, and increased integration with wearable technologies. Noteworthy trends expected in the forecast period encompass the expanded use of AI in esports, the application of AI in sports betting and predictive analytics, considerations for ethical use and data privacy, increased collaboration between AI and sports science and medicine, and the customization of fan experiences through AI technologies.
The anticipated growth of AI in the sports market is closely tied to the increasing demand for wearable devices. Wearable devices, electronic devices designed to be worn on the body, play a crucial role in collecting and monitoring data related to health, fitness, and activity levels. In the sports industry, AI often utilizes wearable devices to track and monitor athletes' performance data, offering valuable insights into their performance and identifying areas for improvement. According to a prediction by Gartner Inc. in January 2021, global end-user spending on wearable devices was expected to reach $81.5 billion in 2021. This significant demand for wearable devices contributes to the growth of AI in the sports market, facilitating enhanced performance tracking and analysis.
The rise in online gaming is another key factor propelling the growth of artificial intelligence (AI) in the sports market. Online gaming, involving playing video games over the internet, often in a multiplayer environment, has witnessed a substantial increase in participation. AI plays a pivotal role in creating more immersive and engaging online gaming experiences by facilitating realistic and dynamic interactions between virtual characters and environments. This enhances the overall gaming experience, making it more enjoyable and challenging for players. According to Uswitch Limited in 2023, there is an estimated 1.17 billion people globally who consistently play some form of online game. The surge in online gaming activities is a driving force behind the growth of AI in the sports market, as the technology contributes to the evolution of virtual sports experiences.
Technological advancements are a key and prevailing trend in the AI in sports market, with major companies actively embracing new technologies to maintain their positions. In October 2022, Epoxy ai, a US-based AI-driven sports technology solutions company, introduced its Audience Cloud technology. This innovative sports technology provides critical insights to gaming operators and sports media organizations, enabling them to better understand customer interactions with their products over time as consumer preferences change with seasons and fandoms evolve. The Audience Cloud utilizes custom-built AI to continuously capture a comprehensive picture of sports fan behavior, facilitating improved analysis for sports gaming and media. The technology gathers user data from diverse sources, including betting, viewing trends, and various contextual indicators.
Major companies operating in the AI in sports market are directing their efforts towards technological advancements, including the development of AI-powered athletes, to fortify their market positions. AI-powered athletes involve monitoring and analyzing athletes' performance using artificial intelligence, leading to optimized training programs, identification of improvement areas, and overall enhancement of athletic performance. In September 2023, Behaviol Pty Ltd., an Australia-based private company, launched the META11 Fantasy tournament, featuring the world's first-ever free-to-play, AI-powered cricket fantasy game. The tournament prioritizes player well-being and enjoyment, with AI-powered athletes designed to adapt and learn, accurately predicting game outcomes and crafting intricate narratives for characters and their stories.
In February 2022, Slinger Bag Inc., a US-based company specializing in innovative game improvement technologies, acquired Gameface.AI for an undisclosed amount. Through this strategic acquisition, Slinger Bag Inc. aims to provide more advanced and personalized training and coaching solutions, expand market reach, gain a competitive edge in the sports technology market, and differentiate itself from competitors. Gameface.AI, an Australia-based artificial intelligence software company, is focused on developing an AI platform for sports analytics, contributing to the advancement of AI applications in the sports industry.
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.
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. The countries covered in the ai in sports market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The main categories of solutions in AI in sports include software, services, and hardware. Software encompasses the intangible components of a computer system, including programs, data, and instructions that guide the computer's operations. It is applied across various sports such as football, cricket, tennis, basketball, baseball, and others. These solutions may be deployed through cloud or on-premise setups and utilize technologies such as machine learning, natural language processing, computer vision, data analytics, among others. The applications of AI in sports span game planning, strategies, performance improvement, injury prevention, sports recruitment, and more.
The AI in sports market research report provides AI in sports market statistics, including AI in sports industry global market size, regional shares, competitors with a AI in sports market share, detailed AI in sports market segments, market trends and opportunities, and any further data you may need to thrive in the AI in sports industry. This AI in sports market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The AI in the sports market consists of revenues earned by entities by providing AI in sports services such as athlete tracking and analysis, injury prevention and rehabilitation, game strategy optimization, broadcast production, and ticketing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in sports market also includes sales of wearable technology devices, smartwatches, fitness trackers, athlete tracking and analysis tools, and AI sports equipment, which are used in providing AI in sports services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. AI in Sports Market Characteristics3. AI in Sports Market Trends and Strategies31. Global AI in Sports Market Competitive Benchmarking32. Global AI in Sports Market Competitive Dashboard33. Key Mergers and Acquisitions in the AI in Sports Market
4. AI in Sports Market - Macro Economic Scenario
5. Global AI in Sports Market Size and Growth
6. AI in Sports Market Segmentation
7. AI in Sports Market Regional and Country Analysis
8. Asia-Pacific AI in Sports Market
9. China AI in Sports Market
10. India AI in Sports Market
11. Japan AI in Sports Market
12. Australia AI in Sports Market
13. Indonesia AI in Sports Market
14. South Korea AI in Sports Market
15. Western Europe AI in Sports Market
16. UK AI in Sports Market
17. Germany AI in Sports Market
18. France AI in Sports Market
19. Italy AI in Sports Market
20. Spain AI in Sports Market
21. Eastern Europe AI in Sports Market
22. Russia AI in Sports Market
23. North America AI in Sports Market
24. USA AI in Sports Market
25. Canada AI in Sports Market
26. South America AI in Sports Market
27. Brazil AI in Sports Market
28. Middle East AI in Sports Market
29. Africa AI in Sports Market
30. AI in Sports Market Competitive Landscape and Company Profiles
34. AI in Sports Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
This report provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on ai in sports market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for ai in sports? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered: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
Companies Mentioned: International Business Machines Corporation; SAP SE; SAS Institute Inc.; Sportradar AG; Amazon Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- 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.
Methodology
LOADING...
