PUBLISHER: Allied Market Research | PRODUCT CODE: 1446935
PUBLISHER: Allied Market Research | PRODUCT CODE: 1446935
Artificial intelligence (AI) in sports covers post-game analysis, in-game activity, and even the fan experience. AI is further being used to enhance the performance of players. Apps such as HomeCourt, ESPN Player and MaxOne (M1) AI SmartCoach make use of computer vision and machine learning to assess basketball players' skills, giving them a good medium to improve their game. In addition, the recording of these performance metrics of athletes helps players to understand the areas where the player has maximum potential to excel and the areas that still need improvement.
The report covers the study of AI in sports market along with its component, deployment mode, technology, application and sports type. The research involves a study of AI in sports solutions, which includes revenue realized from the sale of commercial licenses as well as revenue realized from the upgrade charges of open-source AI in sports solutions. The applications of the artificial neural network solutions considered in the report are image recognition, fraud detection, and data mining processes.
In addition, there are several advantages to using AI technology, including gains in production and efficiency. AI-powered solutions can continuously monitor systems, endpoints, and networks, enabling swift response and real-time visibility into any security breaches. This further leads to more accurate and effective sports operations. In addition, the increase in demand for behavioral analysis in several industries further contributes to driving growth of the global market. The AI systems are more trained, that further reduced the chances of false positives by improving accuracy of the sports solutions. Such enhanced factors are expected to provide lucrative opportunities for market growth during the forecast period. In addition, the integration of intelligent AI solutions in various applications has the potential to create several benefits for businesses and end users. Moreover, these numerous benefits provide enhanced customer convenience and a better security experience. Consequently, AI in sports technology is gaining significant adoption to increase the use of automation systems among business operators. These factors actively impact the growth of the market in the forecast period. Additionally, the growing trend of digitally enabled solutions is the major factor driving the market growth.
Moreover, the surge in usage of IoT devices in various applications and rising amount of data generated by these internet devices creates lucrative opportunities for the global AI in sports market. Moreover, growing demand for flexible security services across businesses is expected to fuel the growth of the market during the forecast period. Furthermore, the rise in visualization tools for security data is also arising, which further is expected to provide lucrative growth opportunities for the market in the forecast period.
Increase in demand for monitoring and tracking data of players and surge in need for chatbots & virtual assistants to interact with followers act as the key driving forces of the global artificial intelligence in sports market. In addition, the expansion popular for ongoing information investigation decidedly influences the development of the market. However, the absence of prepared and talented experts and high execution and upkeep costs hamper the market development. On the contrary, surge in demand of AI for making future predictions is expected to offer remunerative opportunities for expansion of the market during the forecast period.
The artificial intelligence in sports market is segmented into component, deployment model, technology, application, game type, and region. Depending on the component, the market is bifurcated into software and services. By deployment model, it is categorized on-premises and cloud. On the basis of technology, it is fragmented into machine learning, natural language processing, computer vision, data analytics, and others. By application, it is segregated into game planning, game strategies, performance improvement, injury prevention sports recruitment, and others. As per game type, it is classified into football, cricket, tennis, basketball, baseball, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competitive analysis and profiles of the major players in the artificial intelligence in sports market are Catapult Group International Ltd., Facebook Inc., IBM Corporation, Microsoft Corporation, Salesforce.com Inc., SAP SE, SAS Institute Inc., Sportradar AG, Stats Perform, and Trumedia Networks. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of artificial intelligence in sports market globally.
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