Artificial Intelligence in Sports Market to Reach $19.2 Bn, Globally, by 2030 at 30.3% CAGR: Allied Market Research

Rise in demand for monitoring and tracking data of players and requirement of real-time data analytics to improve performance drive the growth of the global artificial intelligence in sports market

PORTLAND, Ore., March 23, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Artificial Intelligence in Sports Market by Component (Software and Services), Deployment Model (Cloud and On-premise), Technology (Machine Learning, Natural Language Processing, Computer Vision, Data Analytics, and Others), Application (Game Planning, Game Strategies, Performance Improvement, Injury Prevention Sports Recruitment, and Others), and Sports Type (Football, Cricket, Tennis, Basketball, Baseball, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global artificial intelligence in sports industry $1.4 billion in 2020, and is expected to reach $19.2 billion by 2030, witnessing a CAGR of 30.3% from 2021 to 2030.

Drivers, Restraints, and Opportunities

Rise in demand for monitoring and tracking data of players, demand for chatbots and virtual assistants to interact with followers, and requirement of real-time data analytics to improve performance drive the growth of the global artificial intelligence in sports market. However, lack of trained & skilled professionals and high cost of implementation and maintenance restrain the market growth. On the other hand, rise in demand for AI to make future predictions create new opportunities in the coming years.

Download Report Sample (331 Pages PDF with Insights) at:

https://www.alliedmarketresearch.com/request-sample/13270

Covid-19 Scenario

• The demand for AI in sports reduced considerably due to cancellation of sports competitions and closure of stadiums across the world with lockdown measures and other restrictions by governments.
• The implementation of chatbots and virtual assistants increased interaction with fan base and increase the number of followers during the pandemic.
• The investments in development of AI technology for sports reduced considerably. The investments are expected to increase post-pandemic.

Get detailed COVID-19 impact analysis on the artificial intelligence in sports market:

https://www.alliedmarketresearch.com/request-for-customization/13270

The software segment to continue its lead position in terms of revenue throughout the forecast period

Based on components, the software segment accounted for the highest market share in 2020, contributing to nearly three-fourths of the global artificial intelligence in sports industry, and is estimated to continue its lead position in terms of revenue throughout the forecast period. This is due to adoption of AI and advanced machine learning algorithms to utilize the massive volume of data for gaining meaningful insights and making better-informed decisions. However, the services segment is expected to witness the highest CAGR of 33.1% from 2021 to 2030, owing to rise in demand for software-as-a-service (SaaS) for numerous benefits such as scalability and one-time customer acquisition cost.

The football segment to maintain its leadership status during the forecast period

Based on sports type, the football segment held the highest market share in 2020, holding more than one-fourth of the global artificial intelligence in sports market, and is projected to maintain its leadership status during the forecast period. This is attributed to adoption of IoT devices such as sensors, GPS trackers, and computer vision algorithms to track movement of players and balls. However, the basketball segment is expected to manifest the fastest CAGR of 35.0% from 2021 to 2030, owing to usefulness of AI in-game analysis for identifying trends and analyzing innumerable variations of plays such as pick-and-rolls.

North America to maintain its dominance by 2030

Based on region, North America contributed to the highest market share in terms of revenue in 2020, contributing to more than one-third of the global artificial intelligence in sports market, and is expected to maintain its dominance by 2030. This is attributed to abundance of AI solutions in sports from vendors such as Microsoft Corporation, IBM, SAS, and others. However, Asia-Pacific is estimated to register the fastest CAGR of 34.6% during the forecast period, owing to increase in technological investments in sectors such as cloud and digital technologies.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/13270

Leading Market Players

• Catapult Group International Ltd.
• Facebook Inc.
• IBM Corporation
• Microsoft Corporation
• Salesforce.com Inc.
• SAP SE
• SAS Institute Inc.
• Sportradar AG
• Stats Perform
• Trumedia Networks

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:

hthttps://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenueTrial

Similar Reports:

Artificial Intelligence in Manufacturing Market Expected to Reach $15,273.7 Million by 2025

Artificial Intelligence as a Service (AIaaS) Market to Garner $77,047.7 Million by 2025

Artificial Intelligence (AI) Market Expected to Reach $1,581.70 Billion by 2030

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States 
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com 
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg