CHICAGO, July 27, 2023 /PRNewswire/ -- Because of the rise of the IoT, 5G connection, AI, and fan involvement, the market for smart stadiums has a bright future. These venues' progress will be further shaped by sustainability, data analytics, and interaction with smart cities, providing guests with immersive experiences and safer environs.
The Smart Stadium Market size is projected to grow from USD 14.3 billion in 2023 to USD 34.5 billion in 2028 at a Compound Annual Growth Rate (CAGR) of 19.2% during the forecast period, according to a new report by MarketsandMarkets™. The growth of the Smart Stadium Market is primarily driven by rapid advancements in IoT, data analytics, cloud computing, and mobile applications. Also, the need to optimize venue operations, crowd management, and security, leading to better resource utilization and cost savings for stadium management will drive the market.
Browse in-depth TOC on "Smart Stadium Market"
207 - Tables
37 - Figures
204 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2018–2028 |
Base year considered | 2022 |
Forecast period | 2023–2028 |
Forecast units | Value (USD Billion) |
Segments covered | Solutions, Services, and Regions. |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered | IBM (US), Ericsson (Sweden), Intel (US), NTT (US), Tech Mahindra (India), Johnson Controls (US), Siemens (Germany), Honeywell (US), Cisco (US), NEC (Japan), Huawei (China), Schneider Electric (France), NXP Semiconductors (Netherlands), Atos (France), Verizon (US), AT&T (US), Vodafone (UK), T-Mobile (US), Telefonica (Spain), VIX Technology (Australia), Hawk Eye (UK), UCOPIA (France), AllGoVision (India), AiFi (US),Pixellot (Israel), Locbee (Hungary), Dignia (Israel), GP Smart Stadium (Netherlands). |
Based on offering, the services segment to grow at a higher CAGR during the forecast period
The services segment of the Smart Stadium Market comprises consulting services, deployment and integration, and support and maintenance services. The need to increase operational efficiency, achieve sustainability, and handle the changing business dynamics is driving the increased adoption of smart stadium services across all regions.
Based on solutions, the network management segment is expected to grow at the highest CAGR during the forecast period
Network management platforms facilitate communication between the stadium, workforce, and fans. Network management platforms ensure users receive IT services anywhere, anytime. With the help of these platforms, network administrators can easily detect any failure in the network and resolve issues in real-time by informing the support personnel. The rapid growth in global sporting events is driving the demand for stable and efficient data networks to ensure efficient day-to-day operations and management of stadiums.
Based on services, the support and maintenance segment is expected to grow at a higher CAGR during the forecast period
Support and maintenance service providers ensure regular maintenance and offer continuous improvements to these devices. The need to increase profitability, enhance the fan experience, empower communications, and improve the stadium infrastructure. Also, the need for technical expertise for high reliability and minimal downtime will drive the segment's growth.
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Based on the digital content management solution type area, the mobile and web content management segment is expected to grow at a higher CAGR during the forecast period
Mobile and web content management software store and deliver content and services to mobile devices. The market segment is growing rapidly due to the adoption of web-based digital solutions and services by stadium operators. Also, the increasing use of the internet and sports analytics drives stadium operators to use mobile apps and web services at stadium venues.
Europe to hold the highest market size during the forecast period
Europe is one of the most prominent regions in the Smart Stadium Market. The European Smart Stadium Market is projected to experience sustained growth due to funding policies at both the EU and individual state levels. European sports organizations are increasingly adopting smart stadium solutions. The UK, the birthplace of football and cricket, generates significant revenue from these sports. Consequently, sports organizations in the country are investing heavily to maintain a competitive edge within the industry. Governments across Europe have already initiated multiple research and development (R&D) ventures to convert traditional stadiums into smart stadiums by integrating IoT solutions and 5G connectivity.
Top Key Companies in Smart Stadium Market:
Major vendors operating in the Smart Stadium Market include IBM (US), Ericsson (Sweden), Intel (US), NTT (US), Tech Mahindra (India), Johnson Controls (US), Siemens (Germany), Honeywell (US), Cisco (US), NEC (Japan), Huawei (China), Schneider Electric (France), NXP Semiconductors (Netherlands), Atos (France), Verizon (US), AT&T (US), Vodafone (UK), T-Mobile (US), Telefonica (Spain), VIX Technology (Australia), Hawk Eye (UK), UCOPIA (France), AllGoVision (India), AiFi (US),Pixellot (Israel), Locbee (Hungary), Dignia (Israel), GP Smart Stadium (Netherlands).
Recent Developments:
- In February 2023, Fujitsu and Eintracht partnered to develop sustainable solutions for stadium management, such as Iot T-based sensors, AI implementation, and queue management.
- In January 2023, Schneider Electric acquired AVEVA, a global leader in industrial software. Together, they enable a holistic approach to digital transformation across a customer's operations.
- In December 2022, Cisco and Manchester City collaborated to deploy WaitTime's real-time crowd management platform at the Etihad Stadium.
- In October 2022, Tech Mahindra acquired US-based Infostar LLC and London-based We Make Websites Limited (WMW) for USD 105 million and USD 13 million, respectively, to strengthen its digital portfolio..
- In March 2022, Real Madrid partnered with Cisco to provide Connected Stadium solutions across its stadium to enhance the fan experience and connectivity.
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Smart Stadium Market Advantages:
- Smart stadiums use cutting-edge technology to give visitors an immersive and engaging experience. This includes tools like interactive displays, augmented reality (AR) experiences, and mobile apps with real-time updates, all of which boost fan engagement and keep them connected throughout the event.
- Smart stadiums can gather and analyse fan data to provide individualised services and recommendations. In order to respond to individual interests and improve the overall fan experience, this can involve targeted offers for refreshments, merchandising, or even seat upgrades.
- There is a safer environment for everyone attending the event thanks to sophisticated security systems including facial recognition, video analytics, and IoT sensors. This makes the stadium experience safer and more pleasurable by assisting in preventing and countering security concerns effectively.
- In order to optimise seating arrangements, entry and departure locations, and traffic flow, smart stadiums deploy crowd management solutions that make use of data analytics. Fans who are attending the event will have a smoother experience as a result of less congestion and shorter wait times.
- Sensors and Internet of Things (IoT) devices installed at smart stadiums collect real-time data on a variety of topics, including crowd behaviour, weather, and player performance. With the help of analytics, this data can give stadium managers, coaches, and even broadcasters useful information.
- Strong Wi-Fi and cellular networks are available in smart stadiums, allowing visitors to stay connected and post about their experiences in real time on social media. Through smartphone apps and AR/VR technology, this connectivity also makes interactive in-stadium experiences possible.
- Smart stadiums' incorporation of technology creates new opportunities for revenue generation. Smart stadiums can increase revenue for venue owners and operators through sponsorships, targeted advertising options, and premium seat packages.
Report Objectives
- To determine and forecast the global Smart Stadium Market by solution, service, and region from 2023 to 2028 and analyze various macroeconomic and microeconomic factors that affect the market growth
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Latin America, Asia Pacific, and Middle East and Africa
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall Smart Stadium Market
- To provide detailed information regarding the major factors influencing the growth of the Smart Stadium Market (drivers, restraints, opportunities, and challenges)
- To profile the key market players; provide comparative analysis based on their business overviews, service offerings, regional presence, business strategies, and key financials; and provide companies in-house statistical tools to understand the competitive landscape
- To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities in the market
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