Global Ai In Sports Market Overview
The AI in Sports Market Size was estimated at 2.82 (USD Billion) in 2022. The AI In the Sports Industry is expected to grow from 3.41(USD Billion) in 2023 to 18.7 (USD Billion) by 2032. The AI in Sports Market CAGR (growth rate) is expected to be around 20.82% during the forecast period (2023 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key AI in Sports Market Trends Highlighted
The growth of AI in the sports market is primarily driven by sports organizations' increasing adoption of AI-powered technologies to enhance performance, optimize training and improve fan engagement. Key market drivers include the ability of AI to analyze vast amounts of data, that provide real-time insights and automate tasks, leading to improved decision-making and operational efficiency. Additionally, growing demand for personalized sports experiences and the convergence of AI with other technologies, such as IoT, cloud computing and further fuel market growth. Recent trends in the market include adopting AI for athlete monitoring, performance analysis, injury prevention, and fan engagement through virtual and augmented reality experiences. Opportunities to be explored in AI in the sports market lie in expanding AI into new areas, such as player selection and development, integrating AI with wearable technology, and developing AI-powered sports betting and gaming platforms.
AI in Sports Market Drivers
Growing Adoption of AI-Powered Sports Analytics Platforms
The rise in the usage of AI-based sports analytics programs is one such factor. Team dynamics, player performance and opponent strategies are some of the aspects that these platforms give insights about to teams, players and coaches. AI algorithms are great at analyzing diverse kinds of data like player-tracking data, videos, and other information from wearable sensors. With the aid of artificial intelligence algorithms, different types of data such as video footage, wearable sensors, and player tracking data could be examined to make sense of them for patterns or any exceptions that may not be easily visible or detectable by humans.
Rising Popularity of Virtual and Augmented Reality in Sports
VR/AR technology is becoming popular in sports, which accelerates the AI in the Sports Market Industry. There are so many ways through which VR/AR technologies are helping the sports industry. They both help create a seasoned reality for proper training and help promote fan engagement with their celebrities. In this, VR training simulations are developed to give athletes realistic and exciting training problems. On the other hand, AR overlays have other useful uses, such as giving the fans real-time information about the match or game.
Increasing Investment in Sports Technology
Moreover, "the increasing investment in sports technology is one of the key factors driving the growth of the AI in Sports Market Industry". The above-mentioned investment is made in various forms, including professional sports teams, leagues, and technology companies. The funds are spent on the development of new innovative AI-enabled technologies. Specifically, "many companies are also focused on developing wearable sensors for athletes and player tracking".
AI In Sports Market Segment Insights
AI in Sports Market Type of AI Technology Insights
Machine Learning for Web Engineering MIRI Paper Reading List MIT Press Artificial Intelligence by Michael Laakasuo Types of AI Technology in the AI Sports Market, the type of AI technology is segmented into Machine Learning, Natural Language Processing, Computer Vision, Deep Learning, and Reinforcement Learning. Machine Learning has a higher market share, as it can be applied across various sports. Natural Language Processing is another key segment enabling watch games to analyze "commentators" and sports broadcasts. Computer Vision is primarily interested in "player performance analysis" and team performance analysis, but it still has a crucial role.
Deep Learning is used to develop and apply problem analysis and pattern recognition. Reinforcement Learning is used in sports betting and betting strategies. The market shares of these segments are still growing in the market compared to other technologies. Projected Market of the Different Technology The Machine Learning market in the AI In Sports Market was valued at 1.51 billion in 2018, and it is expected to reach 6.7 billion by 2024, with a CAGR of 22.5%. Natural Language Processing is expected to grow at a CAGR of 20.8% during the 2019-2024 forecast period, valued at USD 2.9 billion in 2024.
Computer Vision was valued at 0.86 billion in 2018 and is anticipated to reach USD 2.6 billion in 2024, with a 21.4% CAGR. Deep Learning was valued at 0.48 billion in 2018 and reached 0.79 billion in 2019, and is anticipated to be valued at USD 1.8 billion by 2024, with a 23.2% CAGR. Reinforcement Learning was valued at 0.309 billion in 2018, and it is expected to reach USD 1.2 billion by 2024, with a CAGR of 26.5%. The increase in AI in the sports market will be attributed to advancement, and more applications of AI technologies will be witnessed to enhance sports fully.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Ai In Sports Market Application Insights
The AI sports Market is segmented by Application into Performance Analysis, Injury Prevention, Training Optimization, Fan Engagement, and Stadium Management. The Performance Analysis segment accounted for the largest share of the market in 2023 and is projected to continue to grow at a CAGR of 22.1% from 2023 to 2032. The Injury Prevention segment is expected to grow at a CAGR of 20.5% from 2023 to 2032. The Training Optimization segment is expected to grow at a CAGR of 21.2% from 2023 to 2032. The Fan Engagement segment is expected to grow at a CAGR of 20.3% from 2023 to 2032.
The Stadium Management segment is expected to grow at a CAGR of 19.5% from 2023 to 2032. The growth of the Performance Analysis segment is attributed to the increasing adoption of AI-powered video analytics solutions to improve player performance and identify areas for improvement. The growth of the Injury Prevention segment is attributed to the rising awareness of the importance of injury prevention and the increasing use of AI-powered injury prediction models. The growth of the Training Optimization segment is attributed to the increasing adoption of AI-powered training optimization solutions to improve athlete performance and reduce the risk of injuries.
The growth of the Fan Engagement segment is attributed to the increasing use of AI-powered fan engagement solutions to create more immersive and personalized fan experiences. The growth of the Stadium Management segment is attributed to the increasing adoption of AI-powered stadium management solutions to improve operational efficiency and enhance fan experience.
Ai In Sports Market Sport Insights
Sport segments the AI sports Market into Soccer, Football, Basketball, Baseball, Cricket, Tennis, and Golf. In 2023, the Soccer segment held the largest market share at 30%, followed by Football with 25%, Basketball with 20%, Baseball with 10%, Cricket with 5%, Tennis with 5%, and Golf with 5%. The market growth for the Soccer segment is expected to be driven by the sport's increasing popularity and the growing adoption of AI technologies in sports analytics and performance optimization. The Football segment is also expected to witness significant growth due to the increasing number of football leagues and tournaments worldwide.
The growing popularity of the NBA and other basketball leagues is expected to contribute to the steady growth in the Basketball segment. In addition, it is anticipated that with the increasing popularity of MLB and other baseball leagues, the Baseball segment will grow moderately. There are also hopes that increasing interest in cricket among Indians and others will ensure significant growth in the Cricket segment. An expectation for the slow but steady increase of interest in Tennis as a sport worldwide has seen many tennis tournaments emerge, thereby leading to similar predictions about growth in the Tennis segment.
Ai In Sports Market End User Insights
The End User segment of the AI in Sports Market is categorized into Athletes, Coaches, Teams, Leagues, and Fans. Among these segments, Athletes and Coaches are projected to hold a significant share of the market in 2023, owing to the rising adoption of AI-powered wearable devices and analytics tools for personalized training and performance optimization. The integration of AI into sports equipment and training facilities is also contributing to the growth of this segment. Teams and Leagues are expected to witness a substantial increase in their market share by 2032.
There is a growing preference for AI-boosted video scrutiny and data highlighting by the teams and leagues as this allows them to understand more about player performance, game tactics, or even strategies employed by their opponents. Consequently, there is also an increasing need for AI solutions that can help in talent acquisition, prevention of injuries, and game plan formulation. The followers are also becoming more interested in AI-based digital sports. Interactive player meet-and-greets, as well as virtual stadium tours, among other things, can be achieved through Virtual Reality (VR) and Augmented Reality (AR) technologies.
Ai In Sports Market Regional Insights
Regionally, North America is anticipated to dominate the market, accounting for a significant share in 2023. This dominance can be attributed to the presence of well-established sports leagues, such as the NFL, NBA, and MLB, which are actively adopting AI technologies to enhance player performance, fan engagement, and operational efficiency. Europe is projected to follow North America in terms of market size, driven by the growing popularity of AI in soccer and other major sports. The APAC region is expected to witness substantial growth in the coming years, owing to the increasing adoption of AI in sports by emerging markets such as China and India.
South America and MEA are anticipated to contribute a smaller but growing share to the AI in Sports Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Ai In Sports Market Key Players And Competitive Insights
Several AI In Sports Market players are focusing on developing innovative solutions to maintain or increase their market share. Moreover, prominent companies heavily invest in research and development to expand their product portfolio and presence. Therefore, AI in the sports Market is developing due to the growing demand for data-driven insights and the need for sports performance optimization. Leaders in the competitive landscape range from established AI in Sports Market players to emerging startups. These companies often engage in strategic partnerships, acquisitions, and collaboration to expand their capacities and skills. Since each player craves an edge in the AI Sports Market, many new technologies have been adopted. A relevant competitor in the AI In Sports Market is Catapult. It provides a sports science platform based on devices and a proprietary cloud computing infrastructure. The devices produced by the company comprise GPS trackers, heart rate monitors, and accelerometers. These tools collect an array of sports performance data, i.e., speed, distance, and workload. As for the cloud, it allows coaching staff and athletes to evaluate the collected data and leverage insights subscribed by the company. Catapult has a presence among 10,000 teams working in different sports. It is competitive and frequently used in the NFL, NBA, and English Premier League. Another prominent competitor in the AI sports Market is Stats Perform. It has a long record of working with and analyzing sports data. The company does not disclose its names since it already gained around two hundred clients enrolled in the AI Performance module. Stats Perform works with Episode Solutions as part of the newly-created AI solution.
Key Companies in the AI In Sports Market Include
Stats Perform
Amazon
Oracle
Talend
Genius Sports
IBM
Opta Sports
Google
SAS Institute
TIBCONewparaPitney Bowes
Informatica Technologies
SAP
Microsoft
Sportradar
AI in Sports Market Industry Developments
The AI in sports market is projected to grow from USD 3.41 billion in 2023 to USD 18.7 billion by 2032, at a CAGR of 20.82%. Key factors driving this growth include the increasing adoption of AI technologies by sports organizations, rising demand for personalized and immersive sports experiences, and the growing popularity of sports analytics. Recent advancements in AI, such as the development of more sophisticated algorithms and the availability of vast amounts of data, further fuel market growth. Notable news developments include partnerships between sports organizations and AI companies to develop innovative solutions, such as the collaboration between the NBA and Microsoft to enhance player performance analysis.
Ai In Sports Market Segmentation Insights
- AI in Sports Market Type of AI Technology Outlook
- Machine Learning
- Natural Language Processing
- Computer Vision
- Deep Learning
- Reinforcement Learning
- Ai In Sports Market Application Outlook
- Performance Analysis
- Injury Prevention
- Training Optimization
- Fan Engagement
- Stadium Management
- Ai In Sports Market Sport Outlook
- Soccer
- Football
- Basketball
- Baseball
- Cricket
- Tennis
- Golf
- Ai In Sports Market End User Outlook
- Athletes
- Coaches
- Teams
- Leagues
- Fans
- Ai In Sports Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.82(USD Billion) |
| Market Size 2023 |
3.41(USD Billion) |
| Market Size 2032 |
18.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
20.82% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Stats Perform, Amazon, Oracle, Talend, Genius Sports, IBM, Opta Sports, Google, SAS Institute, TIBCONewparaPitney Bowes, Informatica Technologies, SAP, Microsoft, Sportradar |
| Segments Covered |
Type of AI Technology, Application, Sport, End User, Regional |
| Key Market Opportunities |
Player Performance Optimization Injury Prevention and Rehabilitation Fan Engagement and Experience Sponsorship and Monetization DataDriven Decision Making |
| Key Market Dynamics |
Rising demand for sports analytics Increasing adoption of AI in sports Growing popularity of wearable devices Strategic partnerships and acquisitions Technological advancements |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The AI in Sports Market is expected to reach a valuation of USD 18.7 billion by 2032, exhibiting a CAGR of 20.82% during the forecast period (2023-2032).
North America and Europe are the dominant sports AI markets, accounting for a significant share of the revenue. The Asia Pacific region is expected to witness the highest growth rate during the forecast period due to increasing investments in sports infrastructure and the growing popularity of sports analytics.
AI is used in various applications across the sports industry, including performance analysis, injury prevention, fan engagement, and sports betting. AI-powered systems can analyze player performance, identify patterns, and provide insights to improve training and game strategies.
Major AI sports Market players include IBM, SAP, Oracle, Microsoft, Google, Amazon Web Services, STATS Perform, and Sportradar. These companies offer a range of AI-based solutions tailored to the specific needs of the sports industry.
The growing adoption of AI in various aspects of sports, increasing investments in sports technology, and the rising demand for data-driven insights are key factors driving the growth of the AI in Sports Market.
Challenges faced by the AI In Sports Market include data privacy and security concerns, the need for skilled professionals, and the high cost of implementation. However, ongoing advancements in AI technology and increasing awareness of its benefits are expected to mitigate these challenges.
The AI in Sports Market is projected to grow at a CAGR of 20.82% from 2023 to 2032, reaching a valuation of USD 18.7 billion by 2032.
Key factors that will shape the future of the AI in the Sports Market include advancements in AI algorithms, the integration of AI with other technologies such as IoT and 5G, and increasing adoption of AI-powered solutions by sports organizations and athletes.
Opportunities for new entrants in the AI in Sports Market lie in developing innovative and specialized AI solutions that cater to specific niches within the sports industry. Partnerships with sports organizations and athletes can also provide new entrants access to valuable data and insights.
Potential risks associated with investing in the AI In Sports Market include rapid technological advancements, intense competition, and the need for continuous investment in research and development to stay competitive.
