Artificial intelligence in sports refers to the use of advanced algorithms and software to enhance several aspects of sport. AI assists in game analysis, player performance tracking, training, and injury prevention. It studies massive amounts of data from games and practice sessions to gain useful insights. Advanced computer vision techniques are used for tracking player movements, ball position, and other on-field actions. This detailed data helps coaches and trainers optimize strategies, assess strengths and weaknesses, and design personalized training regimens. AI also reduces the chances of injuries by predicting risk factors and overtraining.
The Global Artificial Intelligence in Sports Market is estimated to be valued at US$ 6.12 Bn in 2024 and is expected to reach US$ 30.98 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 26.1% from 2024 to 2031.
Key TakeawaysKey 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.The key opportunities in the Artificial Intelligence in Sports Market Size include optimization of coaching expertise, enhanced fan engagement through personalized experiences, and tailored nutritional recommendations. AI has the potential to analyze a player's on-field performance, predict injuries, and recommend specific training techniques to overcome weaknesses. This helps athletes achieve peak performance levels.Globally, North America dominates the artificial intelligence in sports market due to heavy investments in AI technology by sports leagues and teams. However, Asia Pacific is expected to exhibit the highest growth owing to the developing sporting infrastructure and increasing popularity of new sports. Countries like China and India are promoting multiple games at the grassroots level using AI-powered coaching tools.Market DriversThe major market driver is increased adoption for analysis and training. AI assists coaches and trainers in tracking player movements, assessing technique, determining counters, and designing personalized training regimes. It studies petabytes of game videos and sensor data to provide actionable insights. This helps optimize strategies and reduces chances of injuries. AI also engages fans through virtual coaching assistants, augmented reality, and personalized recommendations.
PEST AnalysisPolitical: Artificial Intelligence in Sports Market Analysis is subject to regulations around data privacy and usage. Governments try to balance innovation with data protection.Economic: Rising disposable incomes and increasing sports fan engagement is driving demand. However, high R&D costs required for continuous innovation pose challenges.Social: Younger generations are more open to new technologies. AI helps enhance fan experience and player performance. However, some have concerns around jobs displacement.Technological: Advancements in areas like computer vision, machine learning and analytics are fuelling the market. Cloud infrastructure helps collect and analyze huge amounts of data cost-effectively. Faster processing power is needed to fully leverage real-time insights.Geographical market concentrationNorth America currently accounts for the largest share of the global artificial intelligence in sports market in terms of value. This can be attributed to early technology adoption and greater investments by tech companies in the region. Asia Pacific is expected to witness the fastest growth over the forecast period led by countries like China and India. Increasing internet penetration, smartphone usage and sports leagues are major drivers.Fastest growing regionAsia Pacific region is poised to be the fastest growing for artificial intelligence in sports market during the forecast period. This is due to rising affluence, digitalization of sports platforms and infrastructure-led initiatives in countries like China, Japan and India. Increasing interest in sports among the youth, government support for smart cities and presence of promising startups in the space present lucrative opportunities. The region is witnessing significant technology adoption which will aid further market expansion.Get more insights on Artificial Intelligence in Sports Market
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Comments