Press Release

By 2030, Global Smart Stadium Market to Exceed USD 20.50 billion, at 21.6% CAGR

iCrowdNewswire   Jan 9, 2021  7:00 PM ET

Market Overview

Stadium Operators are continuously struggling between fans expecting a captivating experience and host cities looking for higher returns on their sports stadium. With today’s sophisticated home entertainment and all the latest updates available online, the operators need to find a new way to attract the audience to the stadium, compel fans to spend more, and keep everyone safe. Smart Stadium is the solution. They provide fans and staff with details about parking availability, washrooms, concession lines, special offers, and more. Fans get a convenient, personalized experience with shorter waiting lines directions to navigate faster. The staff also gets regular updates on what’s happening and where which helps them to keep the environment secure. Smart Stadiums increase profitability, enhance the fan experience, and improves stadium security.

Market Highlights

Global Smart Stadium Market is anticipated to reach USD 20.50 billion by 2030 from USD 5.4 billion in 2019 with a CAGR of 21.6% in the forecast period.

There have been many recent developments in the sports industry. The rising culture of sports leagues in developing countries and technological advancements in both developed and emerging economies are expected to generate substantial opportunities for smart stadium solutions provided by the companies. The smart stadium has several integrated solutions that allow the venues to enhance and meet players, fans, and medical teams’ requirements and experiences. Moreover, the smart stadium provides a wide range of security systems, digital signage, parking systems, and sensors, among other wireless or wired networked solutions. These solutions provide real-time information, such as lines at concession stands, pricing of in-stadium merchandise, parking availability and thus enhancing the fan experience.

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Global Smart Stadium Market: Segments

Software Segment to grow at a CAGR of XX% during the forecast period

The smart stadium market was dominated by the software segment and represented a revenue share of 65.8 percent in 2019. Digital transformation would bring significant benefits to all spectators and the owners of stadiums. The smart stadium design will combine various technologies, such as managing parking space, managing tickets, upgrading seats, and managing crowds. The software segment for smart stadiums includes building automation, stadium and public safety, event management, and others. The stadium and public safety segment are expected to hold a dominant share throughout the forecast period. On the other hand, the segment of building automation is expected to grow from 2019 to 2030 at a CAGR of 21.4 percent.

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On-Premise Segment to drive the overall growth of the market

In terms of revenue, the on-premise segment held the dominant market share of 63.4 percent in 2019. The segment is expected to register 20.6 percent of a substantial CAGR over the forecast period. Smart Stadiums are equipped with numerous wireless and wired networks and server connected cameras, sensors, and digital signs. It helps to provide the safety staff in charge of real-time data to track the activities of the crowd. All these devices are installed on-site, requiring substantial hardware and software investment, thus contributing to the segment’s larger revenue share over the forecast period.

Global Smart Stadium Market: Drivers & Restraints

Drivers

The growing popularity of sports and events around the world is expected to boost demand for stadiums, which, in turn, is expected to fuel demand for the smart stadium over the forecast period. In addition, benefits such as operating efficiency, fan experience, and stadium safety are expected to drive demand for the smart stadium over the forecast period. Moreover, the increasing trend of digital transformation, the focus on attracting home viewers, and the growing demand for better customer management are some of the factors expected to escalate the smart stadium market over the forecast period.

Restraints

High investment costs, along with traditional stadium infrastructure, restrict stadium owners from adopting advanced technology and are expected to act as a constraining factor and to hinder demand for Smart Stadium over the forecast period.

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Global Smart Stadium Market: Region

Global Smart Stadium market is segmented on the basis of regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and rest of the world is classified as Middle-East and Africa.

Owing to the existence of over 1200 stadiums, Europe is expected to have a large market share. There is also the highest number of professional teams and sports leagues in the region, thereby increasing growth. In 2019, Europe dominated the market, accounting for 33.1 percent of revenue. Over the forecast period, expansion is estimated at a CAGR of 19.8 percent. Development may be attributed to stringent regulations on public safety imposed by the governing bodies to ensure full public and stadium safety. In addition, the increasing demand for a comfortable viewing experience and the increasing integration of social media with stadium technologies are some of the factors driving the market in Europe.

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Top Market Players:

  1. Tech Mahindra
  2.  IBM
  3. Cisco
  4. NEC
  5. NTT Corporation
  6. Ericsson
  7. Johnson Controls
  8. Fujitsu
  9. GP Smart Stadium
  10. Honeywell

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Keywords:    Smart Stadium Market, Smart Stadium Industry, Smart Stadium Market Size, Smart Stadium Market Share, Smart Stadium Market 2020, Smart Stadium Market 2030