The latest updates on global market reports from The Business Research Company provide current market sizing information for the year 2023, extending the forecast to 2032.

According to The Business Research Company’s AI In Sports Global Market Report for 2023, the anticipated expansion of the global AI in sports market is projected from $1.41 billion in 2022 to $1.85 billion in 2023, representing a compound annual growth rate (CAGR) of 31.5%. By 2027, the global AI in sports market size is predicted to reach $5.25 billion at a CAGR of 29.7%.

North America remains a dominant player in the AI in sports market share, while Asia-Pacific stands out as the region with the most rapid growth in 2022.

AI In Sports Market Driver

A key driving force behind the AI in sports market is the increasing demand for wearable devices. These are electronic gadgets designed to be worn on the body, collecting and monitoring data related to health, fitness, and activity levels. In the realm of sports, AI leverages wearable devices to track and analyze athletes’ performance data, offering insights into their strengths and areas for enhancement. For example, Gartner Inc. projected in January 2021 that global end-user spending on wearable devices would surge to $81.5 billion in 2021, marking an 18.1% increase from the previous year’s $69 billion. Furthermore, 533.6 million AI medical devices were shipped in 2021. This escalating demand for wearable technology is significantly propelling the growth of AI in the sports sector.

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Key AI In Sports Market Segments

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

AI In Sports Market Key Players

Major players in the AI in sports market are International Business Machines Corporation (IBM), SAP SE, SAS Institute Inc., Sportradar AG, Amazon Inc., Microsoft Corporation, Apple Inc, Opta Sports (Perform Group), Catapult Group International Ltd, Trumedia Networks, Salesforce Inc., Synergy Sports Technology, Krossover, ChyronHego, and FocusMotion.

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Prominent AI In Sports Market Trend

A significant trend in the AI in sports market revolves around technological advancements. Major industry players are adopting novel technologies to maintain their competitive edge. For instance, Epoxy ai., a US-based AI-driven sports technology solutions company, introduced its Audience Cloud technology in October 2022. This cutting-edge solution provides valuable insights to gaming operators and sports media organizations, aiding them in understanding customer interactions with their products over time. By employing custom-built AI, this technology offers a continuous view of sports fan behavior, enhancing sports gaming and media analysis. The audience cloud continually gathers user data from various sources, including betting, viewing trends, and contextual indicators.

The AI In Sports Global Market Report 2023  comprehensive insights into the AI in sports market, encompassing size, trends, drivers, opportunities, strategies, and competitor analysis. The report covers countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, with the primary regions being Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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