Press release
Exponential Growth Expected in AI in Sports Market: Projections & Key Trends for 2024-2029
AI In Sports Market
What Is The Projected Market Size Of The Global AI In Sports Market And Its Growth Rate?
The AI in sports market has seen an impressive expansion and is projected to grow further:
• Market Value in 2024: $2.39 billion
• Projection for 2025: $3.1 billion (29.8% CAGR)
• Projection for 2029: $8.7 billion (29.5% CAGR)
Contributing factors include performance optimization, fan engagement enhancement, injury prevention, strategic decision-making, and market competitiveness, among others.
What Is Driving The Growth In The AI In Sports Market?
An increasing demand for real-time data analytics is propelling the development of AI in the sports market. Present technology allows sports teams to extract invaluable insights, enhancing performance and making informed decisions during games by analyzing player and game statistics instantaneously. According to the Bureau of Labor Statistics, the demand for data analytics positions is expected to surge by 23% from 2021 to 2031, significantly exceeding the growth rate of 5% across all industries.
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Who Are the Key Players Driving AI In Sports Market Growth?
Major companies operating in the AI in sports market include:
• 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
And others.
What Are The Key Trends In The AI In Sports Market?
Key trends in the AI in sports market are:
• The expansion of AI in esports
• AI-based sports betting and predictive analytics
• Ethical use and data privacy concerns
• Collaboration with sports science and medicine
• Customized fan experiences through AI.
What Are The Segments Of The Global AI In Sports Market?
The AI in sports market is categorized into:
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.
Which Region Leads The AI In Sports Market?
North America held the largest market share of AI in sports in 2024. However, Asia-Pacific is predicted to be the fastest growing region during the forecast period. The AI in sports market covers regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The AI In Sports Market Global Market Report?
- Market Size Analysis
- Market Segmentation Analysis
- Key Player Focus
- Growth Trends Analysis
- Market Contribution
- Growth Drivers
- Industry Challenges
- Competitive Developments.
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