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 reached a value of US$ 5.9 Billion in 2021. A smart stadium is a digitized sports infrastructure that is outfitted with network connections and a fan management system. It comprises parking, a crowd management system, sensors, emergency response, a smart ticketing system, Wi-Fi network, and an integrated system for security. These sensors offer real-time information regarding empty parking spots, waiting lines, the number of vacant seats, and other helpful information. With the help of advanced technologies, these stadiums can now predict uncertain weather conditions and provide early planning of entry and exit points in case of chaos. Besides this, viewers can now order their meals by sitting on their seats in a smart stadium as these services aid in connecting them to the stadium server with the help of their smartphones.
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.
Global Smart Stadium Market Trends:
The global market is primarily driven by significant growth in the sports and entertainment sector. Furthermore, rapid technological advancements and digitalization are encouraging sports stadiums to adopt the Internet of Things (IoT). In line with this, the integration of smart stadiums with IoT enhances fan experience, provides real-time personalization, and increases venue efficiency, thus creating a positive outlook for the market. Apart from this, the shifting focus on attracting home viewers and the growing demand for better customer management are positively influencing the market. Moreover, the rising demand for data-driven stadium infrastructure operations is catalyzing the market. Besides this, a considerable expansion of sports league culture in various countries across the globe, the execution of green initiatives and location-based services, and continuous developments in the e-commerce infrastructure are expected to offer lucrative growth opportunities in the market. Additionally, various government regulations associated with public safety and security across stadiums are providing a boost to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 19.3 Billion by 2027, exhibiting a CAGR of 22.4% during 2022-2027.
- On the basis of the component, the market has been bifurcated into software and services.
- Based on the deployment model, the market has been categorized into on-premises and cloud-based.
- On the basis of the application, the market has been classified into digital content management (digital signage, audio and video management, and others), stadium and public security (video surveillance, cybersecurity, emergency and disaster management, physical security information management, security scanning, imaging and metal detection, and others), building automation management (parking management systems, energy management systems, and facility management systems), event management (event marketing and management, ticketing management, and workforce management), crowd management, network management, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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) and Telefonaktiebolaget LM Ericsson.
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