The Rise of AI in Sports
Artificial Intelligence in Sports is booming day by day. According to the latest statistics, the AI sports market is expected to reach its peak in 2030. The current global value of the AI in sports market is around 2.1 billion USD, with an expected growth rate (CAGR) of 30.10% by 2030.
AI in Sports Market Share (%) by Region (Image Source : Cognitive Market Research)
AI's Impact Today
Today, most sports franchises are utilizing AI for decision-making. Data-driven decision-making using AI helps the team coaches and players plan the game and improve their performances. Despite high costs, AI technologies save time, help make strategic decisions, and discover hidden talents. Teams are creating real-time analytics spaces to collect and process real-time sports data during games. It allows the team to make instant decisions as the game progresses.
Future Insights (2024)
Here are some insights into the future of AI in Sports in 2024:
- Data-driven decision making (Game Planning and Stategy Making)
- Real Time Analytics War Rooms/ Spaces.
- Performance Enhancement.
- Injury Prevention
- Enhanced Fan Experience (Smart Stadiums)
- Automated Talent Scouting
- Match Predictions
Detroit Lions Trace3 Analytics War Room at Ford Field (Image Credit : WJBK Fox 2 Detroit)
Franchises utilises AI tools for:
- Strategic planning
- Injury Prevention
- Player Tracking
- Performance Analysis
Future AI in sports is anticipated to revolutionize the fan experience within stadiums and arenas. This may include;
- Faster Entry via Mobiles
- Personalized Advertisements based on fan behavior.
- Real-time analytics to understand where fans are focusing their attention during games.
Pioneering AI Companies in Sports
We have found some interesting AI companies in the sports industry. You can take a look at them.
1. CrowdIQ
- CrowdIQ helps boost ticket sales, enhances the game day experience, showcases value to sponsors, and future-proofs organizations.
2. Just Walk Out stores by Amazon
- The "Just Walk Out" technology allows shoppers to enter a store, pick up what they need, and simply walk out without waiting in line to pay.
3. SAP Sports One
- This platform provide insights about players and team with real-time analytics.
4. STATSports
- Uses wearable sensors to track how athletes move, giving instant feedback and insights to prevent injuries.
5. Kinduct
- Uses video analysis and AI to follow how athletes move and gives coaching tips based on that.
6. Socios.com
- This platform creates fan tokens and experiences by using blockchain technology.
7. WSC Sports
- This AI cloud platform creating personalized real-time video highlights and content just for fans like you.
8. Dapper Labs
- They create and sell NBA Top Shot NFTs, offering fans a new way to connect with their favourite players and teams.
9. Hawk-Eye Innovation
- Offers goal-line technology and other officiating tools commonly used in major sports leagues.
10. Genius Sports
- Connect and engage sports audiences using data-driven content, marketing support, and awesome viewing experiences.
