AI In Global Sports Market Projected To Reach USD 19.2 Billion By 2030, Transforming Fan Engagement

Globant, a company specialising in digital transformation, has released its latest report titled "Move Your BUT: Sportainment Edition." This report delves into the increasing role of AI in sports and entertainment. The global sports AI market is expected to hit $19.2 billion by 2030. The report highlights AI's potential to transform fan engagement, operational efficiency, and economic impact, especially in regions like the GCC.

The sports sector in the Gulf Cooperation Council (GCC) is rapidly evolving due to substantial investments and strategic alliances. Governments in Saudi Arabia and the UAE have invested over $65 billion recently. Their goal is to position the region as a global sports hub. By 2030, AI-driven initiatives could generate up to $8.5 billion for the GCC’s media and entertainment sector.

Federico Pienovi, Chief Business Officer & CEO for APAC & MENA at Globant, stated, "The GCC’s young population is reshaping the way sports are experienced, with a strong demand for digital and interactive engagement." He noted that 77% of Gen Z and 75% of Millennials prefer watching sports beyond traditional venues. In such a fast-paced region, embracing AI is crucial to staying competitive.

Despite its promise, many sports organisations face hurdles in adopting AI technologies. Challenges include complex data management and a lack of specialised talent. Globally, 59% of sports and entertainment organisations admit they lack a generative AI strategy. This indicates significant growth potential in this area.

AI is transforming fan engagement within the sports industry by offering personalised experiences. These interactions can generate four to seven times more revenue than traditional methods. In the UAE, where 89% of people actively follow sports, AI-powered stadiums enhance fan experiences with real-time data and interactive content.

Future Prospects for Sportainment

As the GCC continues investing in digital infrastructure and sports, AI will play a pivotal role in economic growth and enhancing fan engagement. The region's commitment to digital advancements positions it well to attract international partnerships and strengthen local sports ecosystems.

Federico Pienovi remarked that "AI is changing the game in Sportainment," allowing for more personalised fan experiences. He added that the GCC's investment in digital infrastructure makes it well-suited for adopting these innovations that benefit fans, brands, and sports organisations alike.

The GCC's focus on technology adoption aims to establish itself as a hub for innovative sporting experiences. This approach not only enhances local opportunities but also attracts global interest in its growing sports economy.

With inputs from WAM