ARTIFICIAL INTELLIGENCE IN SPORTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In November 2023, Loughborough University and Signify Group, a global leader in leveraging AI to combat online abuse and threat, announced a strategic partnership to collaborate on academic research into online abuse in sports. Signify has a proven track record in the sector, conducting high-profile projects with leading organizations in international football, tennis, cricket, esports, rugby, basketball, and athletics.
• In October 2023, IBM, a leading provider of global hybrid cloud and AI solutions, and ESPN announced their continued use of AI models built with Watsonx to transform fantasy football data into insights. These models are expected to generate more than 48 billion insights for fantasy managers this year, including recommendations for mutually beneficial trade opportunities and identifying waiver wire players best suited to meet specific team needs.
• In October 2022, Veritone, Inc., a leader in enterprise artificial intelligence (AI) solutions, launched SPORTX - an intelligent marketplace that enables sports federations, leagues, and content producers to license short-form sports video content to media buyers worldwide. SPORTX uses Veritone's AI-powered platform to automatically index, tag, and deliver rights-cleared video assets to buyers, allowing them to efficiently access and utilize the content for editorial, highlights, and digital purposes such as news, social media, and user-generated content. This new platform provides sports rights holders with an opportunity to maximize the monetization of their digital assets and reach new audiences globally.
• In May 2023, Sportradar, a leading global sports technology company, announced significant investments in advancing its artificial intelligence (AI) and machine learning capabilities to drive innovation in the sports betting industry. By automating data collection through digital systems, Sportradar is able to gather deeper, more comprehensive insights into sports events and athlete performance. This enhanced data enables Sportradar to create new value-added products and services for its sportsbook operator clients, helping them optimize trading, risk management, and customer engagement strategies.
• In October 2022, Epoxy.ai, an AI/ML-based personalization technology company providing tools to help sports leagues, betting companies and media entities develop new forms of customer acquisition, engagement and retention, announced the launch of Audience Cloud - the gaming industry's first sports media and betting-specific insights platform. Audience Cloud leverages purpose-built AI to provide an ongoing, comprehensive view of sports fan behavior, enabling enhanced data-driven analysis to optimize sports gaming and media experiences.