Smart Stadium Market -By Software(Integrated Security System, Digital content management, Crowd Management, Building automation system, Event management system, Command and control center, Command and control center); By Service( Professional Service, Managed Service); By Platform(Network Management Platform, Application Management Platform, Application Management Platform); By Deployment(On-Premise, On-Cloud); By Regions(Europe, America, APAC, MEA) Drivers, Opportunities, Restraints, Trends, and Forecast to 2024
Smart Stadium Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2024
Smart technology is impacting almost every aspect of people’s daily lives. It extends even to leisurely activities such as sports and entertainment. Over the last couple of decades, stadiums have experienced an increasing demand for the implementation of innovative technology from the sports and entertainment sectors. Stadiums are no more just the place where you go, sit and watch your favorite sports event. Instead, they have transformed momentously to provide a complete experience around the event and covers a range of aspects such as fan experience, operational efficiency, smart parking and enhanced security.
Smart stadiums provide different kinds of information ranging from parking availability, vacant seats, seat upgrades, and status of waiting lines to ongoing offers and concessions to the fans and viewers. In a smart stadium, fans can enjoy a personalized sporting experience along with shorter waiting lines, faster navigation through the crowd, efficient parking and a whole new “connectedness” with their favourite sport/event. Internet of things (IoT) is also being implemented at these stadiums where fans and promoters can connect their smart devices with the stadium network to receive timely information and increased participation in the event.
According to Infoholic Research, the Smart Stadium Market is expected to reach $19.79 billion by 2024, growing at a CAGR of around 22.28% during the forecast period. The major factors driving the growth of the smart stadium market include the upcoming highly popular national and international sporting events, stringent security regulations by sports governing bodies and increasing adoption of IoT technologies for efficient management of stadium infrastructure. However, high initial investment and longer wait for RoI are anticipated to limit the market growth in the coming years.
Market Segmentation Analysis:
The report provides a detailed evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections and assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendor presentations. Thus, the research report serves every side of the market and is segmented based on regional markets, Software, Service, Platform and Deployment.
Countries and Vertical Analysis:
The report contains an in-depth analysis of the vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy; the prominent vendors covered in the report include Huawei Technologies, NEC Corporation, Intel Corporation, Cisco Systems, Tech Mahindra, Johnson Controls and others. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
The report covers and analyzes the Smart Stadium market. Various strategies, such as joint ventures, partnerships, collaborations, and contracts, have been considered. In addition, as there is a need for comprehensive and integrated solutions, the market will witness a rising number of strategic partnerships for better and holistic offerings. The market is likely to witness an increase in the number of mergers, acquisitions, and strategic partnerships during the forecast period.
Companies such as NEC Corporation, Intel Corporation, and Cisco Systems are the key players in the Smart Stadium market. At the Minato Rugby Festival 2017, NEC provided secure identity authentication with facial recognition in addition to conventional ID cards. NEC designed its NeoFace facial recognition solutions to address the critical security infrastructure needs of high-traffic venues. Intel has bigger ambitions for the Olympic Games in Tokyo. The technology giant is a top partner with the Olympic organizing committee, and in the coming years it will be working, not only to improve the operations, but also the efficiency of the Olympic Games.
The report includes the complete insight of the industry, and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists to understand the companies better and to take informed decisions.
Europe held the largest chunk of the market share in 2017 and is expected to dominate the Smart Stadium market during the forecast period. The region has always been a hub for high investments in research and development (R&D) activities, thus contributing to the development of new technologies. This region is a leading hub for sports events, majorly football, and also due to the increase in government initiatives and investments in smart stadium technologies.
The report provides an in-depth analysis of the Smart Stadium market aiming to reduce the time to market the products and services, reduce operational cost, improve accuracy, and operational performance. The investment toward smart stadiums will create opportunities for stadium owners and event promoters to increase their revenues through multiple channels and achieve higher profitability. Fans will have enhanced experiences with more services dedicated to them without the fuss of leaving their seats. The report discusses the software, service, platform, deployment, and regions related to this market. Further, the report provides details about the major challenges impacting the market growth.
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