The development of cloud-based IoT platforms, the rising demand for data-driven operations, and maintenance of stadium infrastructures to minimize Opex and Capex are some of the factors boosting the smart stadium market.
New York City, United States – May 19, 2020 /MarketersMedia/ —
The global smart stadium market is forecast to reach USD 17.74 Billion by 2026, according to a new report by Reports and Data. With advancements in home entertainment systems, and updates being available on mobile devices, stadium operators are experiencing a challenge in providing audiences with a captivating experience and maintain their profit. The solution to this issue is a smart stadium. There are various benefits associated with this type of stadiums that are supporting the growth of the market. One of the mentionable benefits is these stadiums provide audiences with valuable information such as seat up-gradation, parking availability, the bathroom’s length and concession lines, and special offers.
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Companies considered and profiled in this market study
Intel Corporation, Hewlett Packard Enterprise, Cisco Systems, Huawei Technologies, NEC, Infosys, IBM Corporation, Johnson Controls International PLC, Honeywell International Inc., and Schneider Electric SE.
For the purpose of this report, Reports and Data have segmented the global smart stadium market based on Component, Deployment, Application, and region:
Component Type Outlook (Revenue, USD Billion; 2016-2026)
Deployment Type Outlook (Revenue, USD Billion; 2016-2026)
Application Type Outlook (Revenue, USD Billion; 2016-2026)
• Stadium and Public Security
• Digital Content Management
• Event management
• Building Automation Management
• Network management
• Crowd management
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Further key findings from the report suggest
• The smart stadium market held a market share of USD 4.31 Billion in the year 2018 and forecasted to grow at a rate of 19.3% during the forecast period.
• In regards to Component, the Software segment generated a higher revenue of USD 2.67 Billion in 2018, with a growth rate of 18.8% during the forecast period. The elevated emphasis on video & audio management, video surveillance, and cybersecurity, among others, on the part of stadium operators, contributes to the market share occupied by this segment.
• In context to Deployment, the On-premises segment yielded the highest revenue of USD 2.59 Billion in 2018, with a CAGR of 18.8% during the forecast period. The revenue generated by the On-premises segment is resultant of high dependency of the functioning of these stadiums on a large number of sensors, cameras, and digital signs and installation of these hardware on-premise of the stadium.
• In regards to the Application, the Stadium and Public Security segment can be seen to occupy the largest market share of 30.0% in 2018, with a growth rate of 19.3% during the forecast period. Factors like the presence of a various public safety regulations that are to be abided by stadium operators, increasing instances of terrorist attacks and areas with large number of audience being a soft target for terrorism contributes to the market share occupied by the Stadium and Public Security segment.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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To summarize, the global Smart Stadium market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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