WASHINGTON, April 19, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Artificial Intelligence in Sports Market finds that the increase in use of AI technology in most well-developed sports is expediting market growth. Primarily driven by rising demand for monitoring and tracking data of players, the total Global Artificial Intelligence in Sports Market is estimated to reach USD 7757.0 Million by the year 2028.
The Global Market stood at a revenue USD 1,629.5 Million in 2021, and expected to grow at a Compound Annual Growth Rate (CAGR) of 29.70%.
Furthermore, the increase in technological investments is also anticipated to augment the growth of the Global Artificial Intelligence in Sports Market, states Vantage Market Research, in a report, titled “Artificial Intelligence in Sports Market Size, Share & Trends Analysis Report by Component (Software, Service), by Deployment (On-Premises, Cloud), by Technology ( Machine Learning, Natural Language Processing, Computer Vision, Data Analytics), by Application (Game Planning, Game Strategies, Performance Improvement, Injury Prevention Sports Recruitment), by Game Type (Football, Cricket, Tennis, Basketball), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Market Dynamics:
Increase in Use of AI Technology in Most Well-Developed Sports to Fuel Global Artificial Intelligence in Sports Market
The increase in use of AI technology in most well-developed sports is expected to fuel the growth of the Artificial Intelligence in Sports Market during the forecast period. AI technology is already being used and deployed virtually in all major sports such as cricket, American football, baseball, and soccer. Artificial intelligence can be used in performance analysis and forecast modelling that may have greater impact when it comes to developing training programs for athletes and playing tactics. With the help of wearable sensors along with AI-powered cameras, it's possible to collect a multitude of data and this data is processed with the help of ML-based systems to deliver valuable insights for coaches. This can be further used to identify opponents' playing patterns and understand their strengths and weaknesses which could potentially increase individual and team performance by almost 21% and 28% respectively. Furthermore, AI algorithms also helps improve the virtual assistant referees to be faster and more accurate in detecting game violations. Additionally, AI can also be used in ticketing and automated sports journalism which is also likely to help the market growth in near future.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Artificial Intelligence in Sports market is predicted to grow at a CAGR of roughly 29.70% during the forecast period.
- The Artificial Intelligence in Sports market was estimated to be worth roughly USD 1,629.5 Million in 2021 and is expected to reach USD 7757.0 Million by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Artificial Intelligence in Sports market.
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Segmentation of Global Artificial Intelligence in Sports Market:
- Component
- Software
- Service
- Deployment
- On-Premises
- Cloud
- Technology
- Machine Learning
- Natural Language Processing
- Computer Vision
- Data Analytics
- Others
- Application
- Game Planning
- Game Strategies
- Performance Improvement
- Injury Prevention Sports Recruitment
- Others
- Game Type
- Football
- Cricket
- Tennis
- Basketball
- Baseball
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Rising Demand for Monitoring and Tracking Data of Players to Augment Market Growth
The rising demand for monitoring and tracking data of players is anticipated to augment the growth of the Artificial Intelligence in Sports Market within the estimated period. This is attributable to the rising volume of both on-field and off-field data that is generated among various sports organizations. This data is analysed with the use of data analysis techniques and helps in deriving meaningful and valuable insights. This can be further used in improving the player’s performance and predict the result of future matches. This in turn is expected to support the demand for artificial intelligence in sports in the near future. However, the lack of trained & skilled professionals along with high implementation and maintenance cost are expected to hamper the growth of the market in near future. Moreover, the rising demand of AI for making future predictions and increase in their reliability is further expected to open new market avenues within the estimated time period.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Artificial Intelligence in Sports Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America to Dominate the Global Artificial Intelligence in Sports Market
North America has dominated the Global Artificial Intelligence in Sports Market in 2021 and is likely to continue the same trend during the forecast period. The United States dominated North America in 2021. This is attributable to the availability of the most skilled workforce in the region along with abundance of AI solutions in sports from major vendors. Furthermore, the growing investments in the analytics field and early adoption of these technologies in the region are also anticipated to fuel the growth of the market in the region. Asia-Pacific is expected to grow at a considerable Compound Annual Growth Rate (CAGR) during the forecast period. This is attributable to the increase in adoption of advanced technologies and rising technological investments in sectors such as cloud and digital technologies.
List of Prominent Players in the Artificial Intelligence in Sports Market:
- SAS Institute Inc.
- Opta Sports (Perform Group)
- Sports radar AG
- Catapult Group International Ltd
- IBM Corporation
- SAP SE
- Trumedia Networks
- Salesforce.com Inc. (Tableau Software Inc.)
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Artificial Intelligence in Sports Market Size, Share & Trends Analysis Report by Component (Software, Service), by Deployment (On-Premises, Cloud), by Technology ( Machine Learning, Natural Language Processing, Computer Vision, Data Analytics), by Application (Game Planning, Game Strategies, Performance Improvement, Injury Prevention Sports Recruitment), by Game Type (Football, Cricket, Tennis, Basketball), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/artificial-intelligence-in-sports-market-283426
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Artificial Intelligence in Sports Market?
- How will the Artificial Intelligence in Sports Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Artificial Intelligence in Sports Market?
- What is the Artificial Intelligence in Sports market drivers and restrictions?
- What will be the CAGR and size of the Artificial Intelligence in Sports Market throughout the forecast period?
Recent Developments:
November, 2021: Arria NLG, announced the acquisition of Boost Sport AI, whose proprietary technology uses data analytics and computer vision to automate sport performance and power digital storytelling across media, betting, and e-commerce.
March, 2019: STATS announced the official launch of Auto STATS, the first artificial intelligence (AI) and computer vision technology to deliver comprehensive player-tracking data through any broadcast.
This market titled “Artificial Intelligence in Sports Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Component • Software • Service • Deployment • On-Premises • Cloud • Technology • Machine Learning • Natural Language Processing • Computer Vision • Data Analytics • Others • Application • Game Planning • Game Strategies • Performance Improvement • Injury Prevention Sports Recruitment • Others • Game Type • Football • Cricket • Tennis • Basketball • Baseball • Others • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico ″ Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • SAS Institute Inc. • Opta Sports (Perform Group) • Sports radar AG • Catapult Group International Ltd • IBM Corporation • SAP SE • Trumedia Networks • Salesforce.com Inc. (Tableau Software Inc.) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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