Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "AI in Sports Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global AI in Sports Sector Experiences Significant Growth Fueled by Technological Innovations and Enhanced Fan Engagement
The latest market research publication unveils that the global artificial intelligence (AI) in sports market is slated for a notable escalation, as it is projected to soar from $1.85 billion in 2023 to an impressive $6.69 billion by 2028. This remarkable growth trajectory represents a compound annual growth rate (CAGR) of 28.8%, signifying the robust potential of AI applications within the sporting domain.
Powered by advancements in performance analytics, injury prevention strategies, and fan experience personalization, AI technologies are revolutionizing the sports industry. The surge in demand can be credited to the integration of AI with wearable technologies and the increasing prevalence of data-driven decision-making in sports management and athlete performance enhancement.
Key Market Propellants:
A significant market driver for AI in sports includes the rising adoption of wearable devices that enable precise fitness and health monitoring. This technology has proven to be instrumental in analyzing athletes' performance metrics, providing detailed insights and facilitating performance improvement interventions. North America continues to lead the charge as the predominant region in the AI in sports ecosystem.
Another catalyst for growth is the burgeoning sector of online gaming. With an estimated 1.17 billion individuals globally engaging in online gaming activities, AI has been pivotal in enriching virtual sports experiences, offering dynamic, immersive, and adaptive gaming environments.
Major Technological Milestones and Strategic Developments:
Recent advancements by key industry players, such as the introduction of Audience Cloud technology by Epoxy ai, demonstrate the market's innovative spirit. This technology provides invaluable customer insights, enhancing the interaction between gaming operators, sports media organizations, and their audience.
Forward-facing companies are not only embracing but spearheading technological revolutions by introducing AI-powered athletes for improved training and performance. One such innovative development is Behaviol Pty Ltd.'s META11 Fantasy tournament, an AI-powered cricket fantasy game dedicated to player well-being and immersive narratives.
Acquisitions also reflect the strategic moves within the AI in sports domain. Slinger Bag Inc.'s acquisition of Gameface.AI signals a leap towards advanced training solutions and a robust stand in the competitive sports technology landscape.
Comprehensive Coverage:
The research presents an exhaustive analysis across major geographic regions such as North America, Asia-Pacific - projected to witness rapid growth - and others including Western Europe, Eastern Europe, South America, the Middle East, and Africa.
This report encapsulates vital insights into the AI in sports landscape, detailing market trends, opportunities, and offering a wealth of data to cater to the strategic needs of entities operating in the industry. It encompasses a range of AI solutions in sports, including software, services, and hardware, applicable across diverse disciplines such as football, cricket, tennis, and more. The applications of AI extend to various elements such as game planning, player recruitment, injury management, and strategic broadcasting operations.
The AI in sports market research report analyzes the revenues earned from a wide spectrum of AI-driven sports services, including athlete tracking, injury prevention, game strategy optimisation, AI-based sports equipment, and associated technologies.
Key Report Insights:
- Growth forecasts and market size estimations.
- Regional market shares and predictions for the fastest-growing areas.
- Market trends, with emphasis on technological advancements, AI in esports, and ethical considerations of AI applications.
- Extensive profiles on leading companies dominating the AI in sports space.
The detailed industry analysis and projections contained within the report affirm the instrumental role of AI in reshaping the sports market, crafting a narrative of innovative growth set against the backcloth of digital transformation.
Report Scope
Markets Covered:
- By Solution: Software; Hardware
- By Game Type: Football; Cricket; Tennis; Basketball
- By Deployment: Cloud; On-Premise
- By Technology: Machine Learning; Natural Language Processing; Computer Vision; Data Analytics; Other Technologies
- By Application: Game Planning; Game Strategies; Performance Improvement; Injury Prevention Sports Recruitment; Others Applications
Company Coverage
- IBM
- SAP
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/qsc119
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