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Global Smart Stadium Market Driven by Growing Traction of Live Sports and Entertainment Events

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Global Smart Stadium Market Driven by Growing Traction of Live Sports and Entertainment Events

September 22
14:02 2022
Global Smart Stadium Market Driven by Growing Traction of Live Sports and Entertainment Events
Global Smart Stadium Market Driven by Growing Traction of Live Sports and Entertainment Events
The global smart stadium market reached US$ 5.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 19.3 Billion by 2027, exhibiting a growth rate (CAGR) of 22.4% during 2022-2027.

According to the latest report by IMARC Group, titled, “Smart Stadium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The global smart stadium market size reached US$ 5.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 19.3 Billion by 2027, exhibiting a growth rate (CAGR) of 22.4% during 2022-2027.

A smart stadium comprises sensors, surveillance, parking solutions, and digital signs that connect to wired and wireless networks. It offers real-time information about available parking, in-stadium merchandise pricing, and lines at the concessions stand. It depends on data analytics software to personalize the audience experience via loyalty programs and provide the convenience of navigating faster among the crowd. It also relies on the internet of things (IoT) technology to assist the staff in monitoring the venue and protecting individuals. It can also be used in modernizing and controlling building management systems, such as lighting and heating, ventilation, and air conditioning (HVAC).

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/smart-stadium-market/requestsample

Smart Stadium Market Trends and Drivers:

The expanding number of sports events and live concerts represents one of the major factors strengthening the market growth around the world. It can also be accredited to the increasing demand for a hassle-free stadium experience. Moreover, due to the growing incidences of terrorist activities in public spaces, such as stadiums, there is a rise in security concerns to improve public safety and security, which is propelling the market growth. In addition, the increasing use of digital signage at stadiums to simplify food and beverage orders from any seat in the stadium and have it delivered directly to their seats is contributing to the market growth. It also helps in enhancing audience engagement and managing the crowd. Apart from this, there is an increase in the incorporation of advanced services to compete with the at-home experience and other entertainment systems. Leading players are integrating augmented reality (AR) in state-of-the-art stadiums, interactive seats, and big screens to expand their consumer base. These smart stadiums are connected with displays in the venue that enables the audience to have real-time access to the profile of the players, statistical data, and fantasy performances of teams on their smartphones, tablets, and stadium booths. This is offering lucrative growth opportunities to market players operating in the industry. Furthermore, due to increasing environmental concerns, leading players are introducing smart stadium that can be automated to sustain energy, reduce the number of operational staff required, and minimize maintenance costs. This is providing a thrust to the market growth. Additionally, the rising traffic congestion leading to limited space for smooth flow of traffic at parking lots of the stadium is creating a positive outlook for the market. Besides this, key players are extensively investing in research and development (R&D) activities, which is anticipated to provide a favorable market outlook.

Smart Stadium Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

  • Cisco Systems Inc.
  • GP Smart Stadium
  • Honeywell International Inc.
  • Huawei Technologies Co. Ltd.
  • Intel Corporation
  • International Business Machines Corporation
  • Johnson Controls International
  • NEC Corporation
  • NXP Semiconductors N.V.
  • Schneider Electric SE
  • Tech Mahindra Limited (Mahindra Group)
  • Telefonaktiebolaget LM Ericsson.

Ask Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/smart-stadium-market

The report has segmented the market based on component, deployment model and application.

Breakup by Component:

  • Software
  • Services

Breakup by Deployment Model:

  • On-premises
  • Cloud-based

Breakup by Application:

  • Digital Content Management
  • Stadium and Public Security
  • Building Automation Management
  • Event Management
  • Crowd Management
  • Network Management
  • Others

Breakup by Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Browse Other Reports by IMARC Group:

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Flame Retardants Market- https://www.imarcgroup.com/flame-retardants-market

Vaccine Adjuvants Market- https://www.imarcgroup.com/vaccine-adjuvants-market

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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