Artificial Intelligence (AI) in Sports Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.93 Billion |
| Market Size (2029) | USD 20.94 Billion |
| CAGR (2024 - 2029) | > 28.69 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Artificial Intelligence (AI) in Sports Market Analysis
The AI Market In Sports Industry is expected to grow from USD 5.93 billion in 2024 to USD 20.94 billion by 2029, at a CAGR of greater than 28.69% during the forecast period (2024-2029).
The growth of the market is driven by the increasing use of technology in sports, particularly in well-developed sports. As the prices of these services decrease due to economies of scale, they are expected to be utilized in university and junior levels of various sports. Furthermore, as technology evolves every year, its applications are expected to widen.
- The volume of on-field and off-field data generated by various sports organizations has increased, leading to the need for managing and analyzing the data. As a result, the number of wearable devices in the sports industry has increased to meet the growing demand for monitoring and tracking player data. These devices generate detailed data on player performance and fitness variables such as heartbeat, speed, and acceleration.
- In November 2023, Loughborough University and Signify Group, one of the global leaders in leveraging AI to combat online abuse and threat, announced a collaboration that would see them collaborate on academic research into online abuse in sports. Signify has a proven track record in the sector, conducting high-profile projects with leading organizations in international football, tennis, cricket, esports, rugby, basketball, and athletics organizations.
- Artificial intelligence is used to analyze the data and engage fans. Real-time insights generated through data analysis during match time help teams make changes to their strategies. The growth of worldwide artificial intelligence in the sports market is driven by the desire for virtual assistants and chatbots to communicate with fans, as well as the increasing demand for player monitoring and tracking data.
- The expansion of the market is also fueled by the rise in demand for real-time data analytics. However, it is limited by the shortage of qualified and competent personnel, as well as the high installation and maintenance costs. Nonetheless, the increasing demand for AI in generating future predictions is expected to create lucrative opportunities for market advancement during the projected period.
Artificial Intelligence (AI) in Sports Market Trends
Increasing Engagement of Fans in Sports is Expected to Drive the Market
- Today, fans are much more than mere consumers. They seek to actively participate, analyze, critique, fantasize, and connect with their favorite teams and team members in real time. In this era of leagues, they are becoming true brand partners. It is crucial for clubs to understand and leverage this new relationship.
- Season ticket holders contribute the largest share of any club's revenue, making them a top priority. However, clubs and ticket vendors face increasing competition from the at-home experience when it comes to attracting fans to the stadium. By analyzing data and using micro-segmentation, AI can help teams offer promotional coupons tailored to specific fans.
- Moreover, modern fans are "Social Sports Fans," with social media sites empowering them more than ever before and granting them access to players, coaches, and owners. This has led fans to expect influence over team decisions. Globo TV of Brazil leveraged this interest by using social media and digital technology to boost fan engagement during the World Cup, with a mobile app developed in collaboration with IBM.
- Furthermore, clubs that fail to respond to activist fan movements risk experiencing major setbacks to their ticket sales and brand equity. Conversely, fans can also drive higher levels of engagement with the team, resulting in increased ticket purchases and boosted revenues.
- According to BoomSocial, as of July 2023, Mesut Özil was the most followed Instagram account in the sports category in Turkey, reaching approximately 26.8 million followers. The Instagram accounts of Galatasaray and Fenerbahçe sports clubs ranked second and third, with about 13 million and 8.9 million followers.
North America is Expected to Continue to be the Largest Market in the World
- The North American region boasts one of the most vibrant domestic league systems worldwide, with significant social and economic investments in sports at both the university and League levels. The United States is a leading sporting country globally, with Stanford University reporting that the four major professional sports account for 0.1% of national economic activity.
- Most American leagues and clubs receive sponsorship from corporations, and the region boasts the world's most skilled workforce, contributing to the growth of Artificial Intelligence (AI) in sports. AI is significantly impacting both pre-game and in-game strategy, influencing line-up decisions through computer analysis. Sporting performance can be improved by interpreting various measures, such as spin, speed, serve location, player posture, and motion.
- Companies like Argo Ai and Ford are collaborating with NASCAR to enhance safety in the high-risk sport of Auto Racing. Deep learning is being used to improve safety measures, and the integration of AI in sports is expected to continue to grow.
Artificial Intelligence (AI) in Sports Industry Overview
The Artificial Intelligence Market in Sports is highly consolidated, with a few major players dominating the market share. However, the proliferation of technology in sports is expected to create new opportunities, attracting new players. Some recent developments in the market include:
- October 2023 - IBM and ESPN have announced to use of AI models built with Watsonx to transform fantasy football data into insight the models are expected to produce more than 48 billion insights for fantasy managers this year, everything from recommending mutually beneficial trade opportunities to identifying waiver wire players that are best suited to meet a team’s specific needs.
- October 2022 - Veritone, a leader in AI, introduced Sport X, an intelligent marketplace that allows content creators and rights holders to license short-form sports content to third parties. Sport X automatically sends rights-cleared, indexed, and metadata-rich video to media buyers, enabling them to use it for editorial purposes, highlights, or digital content. This includes news, social media posts, and user-generated content.
Artificial Intelligence (AI) in Sports Market Leaders
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SAS Institute Inc.
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Opta Sports (Perform Group)
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Sportsradar AG
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IBM Corporation
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SAP SE
*Disclaimer: Major Players sorted in no particular order
Artificial Intelligence (AI) in Sports Market News
- May 2023 - Sportradar announces to Invests in AI Technology for Sports Betting Industry, as By replacing human data collectors with digital systems, the company is able to provide deeper insights into sports and create new value-creating products for its clients
- October 2022 - Epoxy.ai announced the launch of Audience Cloud, the gaming market's first sports media and betting-specific insights platform. This solution is designed to utilize purpose-built AI in order to provide an ongoing view of sports fan behavior, enabling enhanced sports gaming and media analysis.
- January 2022 - The University of the Pacific unveiled a new partnership with data integration and visualization pioneer SMT, as well as a new concentration aimed at preparing students for employment in the field of sports analytics. Through this program, students will gain the skills and knowledge necessary to succeed in the dynamic and ever-changing world of sports data analysis.
Artificial Intelligence (AI) in Sports Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Demand for Real Time Data Analytics
4.2.2 Demand for Predictive Insights To Enhance Fan Engagement
4.2.3 Increasing Engagement of Fans in Sports
4.3 Market Restraints
4.3.1 High Initial Investments Required to Implement Complete Solutions
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Player Analysis
5.1.2 Fan Engagement
5.1.3 Data Interpretation & Analysis
5.1.4 Other Applications
5.2 By Deployment
5.2.1 On-Premises
5.2.2 Cloud
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3.4 Rest of The World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 SAS Institute Inc.
6.1.2 Opta Sports (Perform Group)
6.1.3 Sportsradar AG
6.1.4 Catapult Group International Ltd
6.1.5 IBM Corporation
6.1.6 SAP SE
6.1.7 SAS Institute Inc.
6.1.8 Trumedia Networks
6.1.9 Salesforce.com Inc. (Tableau Software Inc.)
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Artificial Intelligence (AI) in Sports Industry Segmentation
Artificial Intelligence is a part of computer science deployed to mimic human functions like reading, answering, and recognizing images or voices of things to transform or improve decision-making based on data received from other sources. Artificial intelligence in sports is being employed to track player performance and help improve the health of the player through suggestions on injury - but now AI and machine learning are being used in sports enterprise applications to enhance sports planning.
The artificial intelligence market in sports is segmented into application (player analysis, fan engagement, data interpretation & analysis, and other applications), deployment (on-premises and cloud), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The report offers market forecasts and size in value (USD) for all the above segments.
| By Application | |
| Player Analysis | |
| Fan Engagement | |
| Data Interpretation & Analysis | |
| Other Applications |
| By Deployment | |
| On-Premises | |
| Cloud |
| Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Rest of The World |
Artificial Intelligence (AI) in Sports Market Research FAQs
How big is the AI Market In Sports Industry?
The AI Market In Sports Industry size is expected to reach USD 5.93 billion in 2024 and grow at a CAGR of greater than 28.69% to reach USD 20.94 billion by 2029.
What is the current AI Market In Sports Industry size?
In 2024, the AI Market In Sports Industry size is expected to reach USD 5.93 billion.
Who are the key players in AI Market In Sports Industry?
SAS Institute Inc., Opta Sports (Perform Group), Sportsradar AG, IBM Corporation and SAP SE are the major companies operating in the AI Market In Sports Industry.
Which is the fastest growing region in AI Market In Sports Industry?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in AI Market In Sports Industry?
In 2024, the North America accounts for the largest market share in AI Market In Sports Industry.
What years does this AI Market In Sports Industry cover, and what was the market size in 2023?
In 2023, the AI Market In Sports Industry size was estimated at USD 4.61 billion. The report covers the AI Market In Sports Industry historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the AI Market In Sports Industry size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
AI in Sports Industry Report
Statistics for the 2023 AI in Sports market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. AI in Sports analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
