An In-Depth Study of Artificial Intelligence in Sports: Market Analysis, Game-Changing Trends & Opportunities
The use of artificial intelligence (AI) in sports was a growing trend, and it was expected to continue expanding in various applications.
PORTLAND, PORTLAND, OR, UNITED STATES, January 12, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, the global artificial intelligence in sports market size was valued at $1.4 billion in 2020, and is projected to reach $19.2 billion by 2030, growing at a CAGR of 30.3% from 2021 to 2030.
Artificial intelligence (AI) refers to technology that imitates human tasks, often using machine learning as the method to learn from data how to outdo these tasks. It helps coaches and analysts make better decisions in sports. In addition, a virtual reality platform with AI technology is providing a realistic experience in a virtual environment that matches the experience of witnessing the game live. Moreover, with the emergence of 5G, such experiences will get more interactive, thus revolutionizing the sports industry.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/13270
Furthermore, the key factor that drives the growth of artificial intelligence in the sports market includes an increase in demand for monitoring and tracking data of players and the growing demand for chatbots and virtual assistants to interact with followers is boosting the growth of the global artificial intelligence in the sports market. In addition, the increasing demand for real-time data analytics positively impacts the growth of the ai in sports industry. However, the lack of trained & skilled professionals and high implementation and maintenance costs hamper the market growth. On the contrary, increasing demand of AI for making future predictions is expected to offer remunerative opportunities for expansion of the artificial intelligence in the sports market during the forecast period.
Depending on technology, the machine learning segment garnered the largest share of the market, as machine learning helps to provide proper data for player recruitment and performance. In addition, machine learning provides researchers and innovators from sports and related industries technical support towards the growing digitization’s and automation, which positively impacts growth of the market. However, the natural language processing segment is expected to grow at the highest rate during the forecast period, as natural language processing services reduce time and costs associated with optimizing systems in the initial phase of deployment.
Based on sports type, the football segment held the highest market share in 2020, holding more than one-fourth of the global artificial intelligence in sports market, and is projected to maintain its leadership status during the forecast period. This is attributed to adoption of IoT devices such as sensors, GPS trackers, and computer vision algorithms to track movement of players and balls. However, the basketball segment is expected to manifest the fastest CAGR of 35.0% from 2021 to 2030, owing to usefulness of AI in-game analysis for identifying trends and analyzing innumerable variations of plays such as pick-and-rolls.
For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/13270
Region wise, the AI in sports industry was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to increase in adoption of AI by major sports such as basketball, baseball, football, and tennis. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to countries such as China with high investments in AI technology. In addition, rise in number of sports competitiveness across the nations for higher position is driving the artificial intelligence in sports market size.
Some Key aspects of the use of AI in the sports industry:
1. Performance Analysis:
• AI is employed to analyze player performance, offering insights into strengths and weaknesses.
• Advanced analytics can help coaches make data-driven decisions regarding player strategy, training, and game planning.
2. Injury Prevention and Rehabilitation:
• AI is used in monitoring player movements and biomechanics to identify patterns that might lead to injuries.
• Rehabilitation programs can be customized using AI to speed up recovery and reduce the risk of recurring injuries.
3. Fan Engagement:
• AI is applied to enhance the fan experience through personalized content, recommendations, and interactive features.
• Chatbots and virtual assistants powered by AI can provide real-time updates, answer fan queries, and offer a more engaging experience.
4. Game Strategy and Decision-Making:
• Coaches use AI algorithms to analyze opponents’ strategies, helping them devise effective game plans.
• In-game decision-making can be supported by AI, providing real-time insights into player and team performance.
5. Athlete Recruitment and Scouting:
• AI is utilized in analyzing player statistics, identifying talent, and predicting future performance.
• Scouting processes are enhanced with AI tools that can process vast amounts of data to find potential prospects.
6. Virtual and Augmented Reality:
• VR and AR technologies, often integrated with AI, are used for training purposes, allowing athletes to practice in simulated environments.
• Fans can also enjoy immersive experiences through AR applications during live events.
7. Sports Analytics:
• AI-driven analytics tools are employed to process large datasets, extracting valuable insights for teams, coaches, and analysts.
• Predictive modeling helps in forecasting game outcomes and player performance.
8. Smart Stadiums:
• AI contributes to the development of smart stadiums with features like automated ticketing, crowd management, and security.
• IoT devices and sensors can be integrated to collect real-time data for analysis and optimization.
9. E-sports:
• In the realm of e-sports, AI is used for game development, player performance analysis, and enhancing the overall gaming experience.
Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/13270
Key Market Players:
• Catapult Group International Ltd.
• Facebook Inc.
• IBM Corporation
• Microsoft Corporation
• Salesforce.com Inc.
• SAP SE
• SAS Institute Inc.
• Sportradar AG
• Stats Perform
• Trumedia Networks
The report focuses on growth prospects, restraints, and analysis of the global artificial intelligence in sports market trends. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global artificial intelligence in sports market share.
Covid-19 Scenario:
• The demand for AI in sports reduced considerably due to the cancellation of sports competitions and the closure of stadiums across the world with lockdown measures and other restrictions by governments.
• The implementation of chatbots and virtual assistants increased interaction with the fan base and increased the number of followers during the pandemic.
• The investments in the development of AI technology for sports reduced considerably. The investments are expected to increase post-pandemic.
Buy Now & Get Exclusive Discount on this Report: https://www.alliedmarketresearch.com/artificial-intelligence-in-sports-market/purchase-options
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Similar Report:
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Wi
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300n Sivers Drive
#205, Portland, OR 97220
United States
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter
Allied Market Research
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
