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

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 US$1.4 billion in 2020, and is expected to reach US$19.2 billion by 2030, witnessing a CAGR of 30.3% from 2021 to 2030. 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.