AI in Sports Market

The global AI in Sports market size is projected to grow from USD 1.03 billion in 2024 to USD 2.61 billion by 2030 at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2030. The market for AI in Sports is rising because sports institutions are implementing data and technology to refine athletes' performance, increase efficiency, and enhance the fan experience. Advanced AI tools apply analysis to large-scale data to fine-tune tactics, reduce exposure of players to injury, and control resources effectively. In May 2023, IBM launched Watsonx.ai, enabling real-time monitoring of players' physical conditions and the development of game strategies. It also incorporates the Internet of Things (IoT) and Artificial Intelligence (AI) to create 'smart' stadiums using Cisco's Connected Stadium Solution. Another prominent example is the UFC (Ultimate Fighting Championship), which partnered with IBM and demonstrates the practical application of AI in enhancing user interactivity by creating personalized experiences and improving live event analytics through real-time data processing and insights. Moreover, AI technologies integrated into ticketing, crowd control, and operational safety, such as facial recognition and predictive safety systems, are revolutionizing the sports business. Additionally, AI-powered solutions such as performance analytics, player monitoring, game strategy development, and coaching tools are transforming how teams and organizations operate, enhancing efficiency and decision-making. This evolution enhances the experience for fans and supports decision-making for teams, leagues, and event organizers, highlighting the importance of AI in modern sports management.

Companies such as Catapult Group (US), IBM (US), ChyronHego (US), Sportsradar  (US), and Microsoft (US), are dominating the AI in Sports market. To increase their market share, these competitors have used various growth methods, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

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Cisco Systems

Cisco Systems (Cisco) is a technology-based organization that specializes in networking, security, collaboration, applications and cloud services. They have solutions for the AI in Sports vertical which improves fan engagement, player performance and operational efficiency. Products such as Connected Stadium Solution and Cisco Vision are based on Al, loT and data to enhance the fan experience, deliver game AI updates, control specific digital signage and manage the venue with data, and so on. In 2024, Cisco announced USD 57.0 billion revenue and maintained a global workforce of approximately 84,900 employees. In each of these regions, including North America, Europe, Asia Pacific as well as Latin and Central Africa, they were present.

In 2024, the company launched a global USD 1.0 billion Al investment fund to advance innovation in foundational Al models and enterprise adoption. In recent years, Cisco has also rolled out AI-powered innovations such as Nexus HyperFabric AI pods and cloud infrastructure management for AI lifecycle resiliency for various industries including sports. Through its collaboration with McLaren Racing, Cisco illustrates how they are leveraging AI-based technologies for sports, making them more integrated for the benefit of fans, security, and efficient running of the venues.

IBM

IBM's business activities revolve around four major segments: Software, Consulting, Infrastructure and Financing. They have a wide range of activities, which include analytics, cloud and cognitive technologies, commerce, IoT, industry solutions, mobile solutions, security, and social solutions, among others. In the Al in sports market, IBM offers solutions in Watsonx.ai to enhance player performance, operational capabilities, and fan involvement. Using Al, machine learning (ML), and data analytics, Watsonx.ai provides real-time insights into player fitness, team strategy, and audience behavior and improves fan experience through predictive analytics, personalized services, and mobile ticketing. It's noteworthy that IBM has developed advanced safety systems for venues, which are AI-based and offer security against undesirable occurrences. In 2023, IBM collaborated with the Ultimate Fighting Championship (UFC) to create the UFC Insights Engine by utilizing the power of Watsonx and Granite large language models (LLM) to provide real-time insights on the movements of fighters and predictions of the outcomes of the fights among others. The solution is expected to launch in 2025 and will be integrated with UFC broadcasts and platforms to enhance fan engagement and data-driven sports interaction. In 2023, IBM reported revenue of USD 61.9 billion with a global workforce of 282,000 employees. IBM has operations in North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Related Reports:

AI in Sports Market by Solutions (Performance Analytics, Player Monitoring, Broadcast Management), Technology (Generative AI and Other AI), and End User (Sports Associations, Sports Teams) - Global Forecast to 2030

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