The global market for artificial intelligence (AI) is growing fast. GlobalData estimates that the global AI platform market will be worth $52bn in 2024, up from $28bn in 2019. The technology is becoming widespread to respond to different challenges across all sectors, and sports is no exception. This report explains different AI technologies, analyzes sector-specific applications, and provides an in-depth understanding of how AI is disrupting the sports industry.
The sports industry has been slow on the AI uptake. However, the shift towards digitalization in sports means that the industry has more use for the technology. Furthermore, the relationship between sports analytics and AI adoption within the industry is symbiotic. As sports analytics becomes commonplace within the industry - a way of enhancing performance and making operational tasks more efficient - there is an increasing drive towards AI adoption, from the coach, the athlete, to the fan. AI gives leagues and teams who use it a competitive edge.
AI is also used to appeal to a younger, tech-savvy generation. As the viewing experience moves online, organizers are turning to AI to enhance their content offerings on online platforms. To meet this trend, leagues are entering into partnerships with AI specialists and AI-enabled cloud platform providers.
Lastly, more leagues are investing in wearable tech and AI-enhanced IoT devices to track movement, speed, and other performance indicators which are then used to create infographics that bring fans from the stands into the action on the field, pitch, or court. If leagues want to attract the attention of potential new fans, and thus broaden their market appeal, then investment in AI is crucial.
- The sports industry is typically slow to adopt technology, in part due to the fear that an increased use of tech on the field will compromise the excitement during a competition.
- While the industry recovers from the financial impact of the pandemic, investment in AI will be cautious, limited to those areas with a known positive outcome.
- The industry will focus on areas where AI can help improve the fan experience - such as improving content distribution on online platforms. In this sense, AI has helped sports companies and broadcasters’ transition to online platforms.
- As AI technology becomes more sophisticated, it will become an intrinsic part of predictive models in sports analytics. Sports companies are likely to prioritise moving content online to gain mass market appeal. To personalize the online viewing experience, sports companies are partnering with AI enabled-cloud service providers. These AI vendors also help sports companies manage increasing amounts of data, as well as fast-paced data.
- Analysis of the wearable tech market, which is expected to reach $310bn by 2030, helping the rise of AI usage in sport. This is coupled with analysis of the increasing use of IoT devices such as sensors placed on bodies and peripheral devices, like cameras during gameplay.
- Briefings on AI’s seven most important technologies: machine learning, data science, conversational platforms, computer vision, AI chips, smart robots, and context-aware computing.
- Analysis of over 25 different companies, including sector specific AI vendors, and which areas of the value chain they focus on to offer solutions for sports companies.
- Case studies of specific AI applications in the sector- from protecting intellectual property to improving the fan experience in traditional sports such as golf and soccer.
- Analysis of the leading adopters in AI, and the reasons
- Analysis of why the fastest adopters of artificial intelligence in the sports industry are motorsports and esports. This also includes an introduction to Airspeeder, an emerging new motorsport with flying electric vehicles in 2021, and reasons why it should also be a fast adopter of AI.
Reasons To Buy
- Prioritise investments in the areas of AI, which will deliver the best results for your business. Informed by GlobalData’s sport and technology analysts, we also provide recommendations on the area of the value chain you should focus on and highlight the parts you can confidently ignore.
- Efficiently source AI specialists and potential partners by accessing a list of over 25 vendors. This includes Stats Perform, tapping into the video-on-demand market in sport, SAS Institute, one of the leading data analytics companies, and Hawk-Eye Innovations, the leading AI provider in sport helping to officiate matches.
- Develop marketing messages and value propositions for your AI services that will resonate with prospective clients in the sports industry by uncovering the business challenges they face in targeting growth, predicting customers’ preferences, and transitioning to digital business models.
- Quantify the global sales opportunity for AI platform services and AI powered IoT devices and how they impact the sports industry by accessing GlobalData’s market size and forecasts (2018-2030), produced by our sports and technology analysts.