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.

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PLEASANTON CA, Sept. 30, 2021 (GLOBE NEWSWIRE) -- The latest study titled "Global Artificial Intelligence in Manufacturing Market Ecosystem By Components; By Deployment; By Technology; By Application; By Device; By Region; By End Users (Logistics, Healthcare, Automotive, Retail, BFSI, Defence, Aerospace, Oil & Gas, Others) Forecast by 2027" published by AllTheResearch, features an analysis of the current and future scenario of the global Artificial Intelligence (AI) in Manufacturing Market. The Global Artificial Intelligence (AI) in Manufacturing Market was valued at USD 2.1 Bn in 2020 and is expected to reach USD 11.5 Bn by 2027, with a growing CAGR of 27.2% during the forecast period. The Artificial Intelligence in manufacturing market is forecasted to grow at a high rate owing to the accelerating innovations in industrial IoT and automation. The manufacturing industry is expected to be among the market leader in the artificial intelligence market. Further, the manufacturing industry is also expected to display the fastest growth during the forecast period due to rapid digital transformation to promote smart solutions in factories, logistics and management.

Artificial intelligence (AI) uses algorithms and software to perform certain tasks without human intervention and instructions. AI represents the integration of technologies such as machine learning, natural language processing, reasoning, and perception. It is used in healthcare for approximation of human cognition as well as the analysis of complex medical and diagnostic imaging data. The artificial intelligence in healthcare diagnosis market is driven by the ability of AI to provide improved outcomes; moreover, the growing need to increase coordination between healthcare workforce and patients also supports the market growth. The rise in the importance of Big Data in healthcare, increase in the adoption of precision medicine, and surge in venture capital investments also contribute to the market growth.

As the field of artificial intelligence is progressing with spontaneous growth, Analytics Insight estimates artificial intelligence to reach US$ 360.36 billion in revenue by the year 2028, with a CAGR of 40.2% from 2021. The AI market is inclusive of a wide array of applications such as natural language processing, robotic process automation, and machine learning. AI-powered solutions and processes have transformed diverse sectors that include healthcare, information technology (IT), agriculture, education, electronics, and many more. Besides, there has also been a surge in profit maximization, cost management, swiftness, customer loyalty, and retention. The tech giants are the driving force behind the adoption of advanced technologies in the industry such as automotive, healthcare, retail finance, and manufacturing.

Developing countries have become a hub of opportunities for various markets, including airport robots market. Government authorities in these countries are planning and investing huge amount in the advancement of technologies to improve the overall infrastructure. Transportation and logistics activities are huge contributors to the development of any country, and therefore, developing countries are extensively focusing on enhancing and improving their transportation and logistics infrastructure, including air, road, and sea transport. Airways is an important mode of transportation; hence, governments of developing countries have planned development and revamping of various mid-size and large airports. For instance, in India, Netaji Subhas Chandra Bose International Airport in Kolkata has laid down expansion plan of the airport.

Advancements in image-recognition with deep learning algorithms has enabled to match and even surpass humans in task-specific applications.

Analytics Insight predicts that the Global Artificial Intelligence market revenue in the Banking sector will touch a whopping USD48.3 billion by 2025 compared to USD13.7 billion in 2019 growing at a CAGR of 28.6% during the forecast period, 2019-2024. The BFSI sector has always been resistant to changes, especially concerning technologies. However, there has been a surge in AI adoption across the financial sector in recent years, which has redefined the operations and processes in the industry. The financial and banking industry is highly customer-based and in the current scenario consumers desperately look for personalized, easier, and digital services. People have shifted to the digital space, which has given rise to digital banking and open banking.

The value of data is increasing, and that value is stimulating the Internet of Things (IoT) Advanced Analytics Market, with the emergence of accessible out-of-the-box and off-the-shelf machine learning (ML) and artificial intelligence (AI) solutions. Vendors are now easing access to ML and AI toolsets by expanding availability through deployment options that include the edge, on-premises, cloud, Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). Global tech market advisory firm, ABI Research, finds that the IoT ML and AI market will reach US$1.09 billion in 2020 and grow to US$10.6 billion in 2026. Edge ML/AI is more prevalent in manufacturing and industrial segments, where there is an immediate need to assess, transform and augment data as it is being generated through functions of quick pattern recognition, labeling, and protocol optimization. "The IoT Edge Advanced Analytics Market is essentially operationalized ML and AI products and services targeted at Operational Technology (OT) teams to understand and extract insights," explains Kateryna Dubrova, Research Analyst at ABI Research.

Analytics Insight predicts that the global AI market is expected to reach US$53.2 billion in 2020 and will further grow on to reach US$152.9 billion in 2023. Beyond that, businesses are bound to become even more innovative with rising AI trends this year. According to a report, AI will help with the repetitive and labor extensive tasks that people carry mostly on their machines. The extensive form filling work, generating reports, and diagrams all can be done more quickly. According to Forbes, approximately 23% of businesses have implemented Artificial intelligence into processing and product services, and more than 60 businesses are still in process. However, this number will increase by 80-90% until 2022.