The increasing need for enhanced security solutions for stadiums is also driving the growth of the smart stadium market
The global smart stadium market size is anticipated to reach over USD 19 billion by 2025. In addition, it is expected to exhibit a CAGR of over 21% over the forecast years 2018-2025. A smart stadium includes a large number of digital signs, cameras, and sensors that are connected to servers and several other networks. These sensors and cameras provide real-time information about several available seats, waiting for lines, unoccupied parking spots, and several other useful information. Also, with the integration of advanced technologies, smart stadiums are even capable of forecasting the uncertain weather conditions that facilitate prior planning of entry & exit location to avoid any confusion. Therefore, such factors driving the need to develop smart stadiums.
The current and future smart stadium market advances are outlined to explain the overall attractiveness of the market. Key impacting factors highlight the smart stadium market opportunities throughout the forecast period. Factors such as the increasing need to create an engaging experience for fans at stadiums are driving the smart stadium market growth. Also, the increasing need for enhanced security solutions for stadiums is the key factor boosting the global smart stadium market growth. Moreover, upcoming international and national sports events are also driving the demand for the market. However, the high initial cost of implementation is expected to impede market growth. Furthermore, the increasing adoption of E-commerce and location-based services are expected to be opportunistic for the market in the forthcoming years.
The report also highlights various aspects of the global smart stadium industry by assessing the market scenario through value chain analysis. Besides, the smart stadium market report covers various qualitative aspects of the smart stadium industry in market drivers, restraints, and key industry opportunities. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The smart stadium market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
Based on the applications segment, the market is bifurcated into event management, stadium & public security, digital content management, building automation, crowd management, and others. The stadium & public security segment leads the market growth in 2019 and it is expected to do so over the forecast years. However, the building automation segment is projected to accumulate the highest market growth in the upcoming years. The building automation segment comprises numerous sub-segments such as energy management systems, parking management systems, and facility management systems. The growth of this segment is mainly attributed to the growing demand for building automation solutions among stadium operators.
The Asia-Pacific region is projected to experience the highest growth throughout the forecast period. However, The European region dominated the overall market in 2019 and it is expected to maintain its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the strict policies about public safety and security in this region. Moreover, the North America region is projected to be the second-largest market during the forecast period.
The major players of the global smart stadium market are Cisco Systems, Intel, Huawei Technologies Co., IBM, Johnson Controls, Schneider Electric SE, Ericsson, NEC, GP Smart Stadium, and CenturyLink. Moreover, the other potential players in the smart stadium market are NXP Semiconductors, Hawk-Eye Innovations, Honeywell, Atos, and Honeywell. The smart stadium market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic services to stay competitive in the global market.
Segment Overview of Global Smart Stadium Market
Services Overview, 2018-2025 (USD Billion)
- Integration Services
- Support and Maintenance
Application Overview, 2018-2025 (USD Billion)
- Event Management
- Ticketing Management
- Event Marketing Management
- Workforce Management
- Stadium & Public Security
- Emergency & Disaster Management
- Security Scanning, Metal Detection, and Imaging
- Video Surveillance
- Digital Content Management
- Audio & Video Management
- Digital Signage
- Building Automation
- Energy Management Systems
- Parking Management Systems
- Facility Management Systems
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America