SAN FRANCISCO, Oct. 22, 2019 /PRNewswire/ -- The global smart stadium market size is expected to reach USD 21.00 billion by 2025, expanding at a 20.9% CAGR over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing focus on engaging and entertaining the fans at stadiums, coupled with stringent security regulations framed by sports governing bodies are among the key factors driving the market growth. Additionally, growing demand for data-driven operations and upcoming international and national sports events are anticipated to increase the demand for smart stadiums.
Stadiums across the developing and developed economies are being renovated to offer facilities such as smart parking, fan experience, operational efficiency, enhanced security, and next-generation viewing experience, among others. Smart stadiums include many surveillance solutions, parking solutions, sensors, and digital signs, among other solutions. These solutions deliver real-time information such as in-stadium merchandise pricing, lines at concession stands, and available parking, thus enhancing the fans' overall experience. Additionally, smart stadiums support green initiatives navigating fans to dispose of waste in dustbins and allowing only disposable items in the stadium.
Key suggestions from the report:
- Software segment is expected to continue leading the smart stadium market over the forecast period owing to increasing focus on fan engagement by providing them better experience. The segment is expected to reach USD 12.97 billion by 2025
- On premise segment is estimated to dominate the market over the forecast period. The smart stadium comprises of a large number of cameras, digital signs, and sensors, connected to wireless and wired servers and networks
- Asia Pacific is estimated to expand at a significant CAGR of 23.5% over the forecast period. Emerging countries such as Japan, India, ASEAN, and Australia are swiftly adopting digital technologies in stadiums for enhancing the fan experience and increasing safety and security
- Prominent market players include IBM Corporation; Intel Corporation; NEC Corporation; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; among others
Read 200 page research report with ToC on "Smart Stadium Market Size, Share & Trends Analysis Report By Component (Software, Services), By Deployment Type (On-Premise, Cloud), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/smart-stadium-market
In 2018, Europe accounted for a majority stake of the smart stadium market, attributed to the high adoption of smart stadium solutions owing to a large number of stadiums across the region. The region has over 1,200 stadiums and has the highest number of professional sports teams and leagues. In 2018, Germany held the majority share in the Europe market.
Asia Pacific, on the other hand, is projected to grow at a considerable CAGR and is anticipated to account for 29.8% of the market revenue in 2025. The strong growth is attributed to the digitalization of sports, increasing penetration of internet and cloud technology, and the emergence of professional leagues in the region. Moreover, sports organizations, including Melbourne Cricket Association, New Zealand Cricket, and Sahara Force India, among others use advanced technologies for hosting tournaments. Singapore, Australia, Japan, India, and China are some of the countries focused on building new smart stadiums and renovating the existing stadiums with improved technology.
Some of the key players operating in the market are Cisco Systems, Inc.; Apple, Inc.; Telefonaktiebolaget LM Ericsson; Fujitsu Ltd.; Fitbit, Inc.; NXP Semiconductors; IBM Corporation; NEC Corporation; Johnson Controls; and Intel Corporation. The market is moderately consolidated owing to the existence of a few solution providers that account for the majority share of the market revenue.
Grand View Research has segmented the global smart stadium market based on component, deployment type, and region:
- Smart Stadium Component Outlook (Revenue, USD Million, 2015 - 2025)
- Stadium & Public Security
- Building Automation
- Event Management
- Smart Stadium Deployment Type Outlook (Revenue, USD Million, 2015 - 2025)
- Smart Stadium Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- South America
- Rest of South America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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