Dublin, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The "Smart Stadium Global Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global smart stadium market is poised for substantial growth, predicted to surge from USD 14.3 billion in 2023 to USD 34.5 billion in 2028, exhibiting a robust Compound Annual Growth Rate (CAGR) of 19.2% during this forecast period. This expansion is propelled by the escalating frequency of domestic and international sporting events and tournaments, fostering a demand for technologically advanced and modernized stadiums.
The comprehensive market study encompasses various segments within the smart stadium platform market, focusing on estimations of market size and growth prospects across offerings, including solutions and services. Geographically, the analysis spans North America, Europe, Asia Pacific, Middle East & Africa, and Latin America, offering insights into regional dynamics. Moreover, the study features an intricate competitive analysis spotlighting major market players, their profiles, key product observations, business offerings, recent developments, and strategic approaches in the market.
Based on building automation solutions, the energy management systems segment holds the highest market share market during the forecast period
The energy management systems segment is expected to hold the highest market share market during the forecast period. Stadiums consume large amounts of energy for their operations, due to the use of floodlights, indoor and outdoor lighting, and heavy equipment. The need to monitor, control, and optimize the distribution and consumption of energy resources will drive the market
Based on stadium and public security solutions, the security scanning, imaging, and metal detection segment holds the highest market share market during the forecast period
The segment of security scanning, imaging, and metal detection segment is expected to hold the highest market share during the forecast period. Security scanning, imaging, and metal detection are vital aspects of stadium and public security. These systems scan and analyze the fans' personal belongings at the stadiums' entry and exit. The need to create a safe environment in the stadium for fans and players will drive the market.
Asia Pacific is expected to grow at a higher CAGR during the forecast period
The smart stadium market in India is experiencing rapid growth due to the surging popularity of sports and entertainment, advancements in technology, and the emphasis on enhancing fan engagement and experiences. This trend is further bolstered by government initiatives, opportunities for revenue generation, and increased interest from sponsors and investors, driving the adoption of smart technologies in stadiums across the country.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $14.3 Billion |
| Forecasted Market Value (USD) by 2028 | $34.5 Billion |
| Compound Annual Growth Rate | 19.2% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Upcoming National and International Sports Events
- Increasing Focus on Enhancing Fan Experience
- Increasing Industry Standards and Stringent Regulations
- Growing Demand for Data-Driven Operations and Maintenance of Stadium Infrastructures to Reduce CapEx and OpEx
- Increasing Adoption of IoT Technologies for Efficient Management of Stadium Infrastructure
- Restraints
- High Implementation Cost
- Opportunities
- Emergence of 5G Technology
- Growing Sports League Culture in Asia-Pacific
- Government Support for Implementing Green Initiatives
- Location-based Services and e-Commerce Potential
- Challenges
- Open Wi-Fi Networks' Vulnerability to Cyberattacks
- Complexities in Upgrading and Replacing Legacy Systems
Case Study Analysis
- AMBSE Helped Mercedes-Benz Stadium Provide Engaging and Digitally-Empowered Fan Experience by Deploying IBM's Solutions
- NEC Helped Arena Pernambuco Create Unified System to Oversee, Monitor, and Control Entire Facility
- Cisco Helped AEG Deliver Superior Experience and Increase Customer Reach and Engagement
- NTT Helped Penske Corporation Provide Fans Advanced Technological Experience Behind Race Cars
Premium Insights
- Growing Need for Enhanced Fan Experience and Fan Engagement to Drive Market
- Solutions Segment to Hold Larger Market Share in 2023
- Stadium and Public Safety Segment to Hold Largest Market Share in 2023
- Europe to Hold Largest Market Share in 2023
Other Insights
- Technology Analysis
- Smart Stadiums World Map
- Smart Stadiums Seating Capacity
- Smart Stadiums-Integrated Technology Model
Major Players Profiled
- IBM
- Cisco
- NEC
- Huawei
- Intel
- Fujitsu
- Johnson Controls
- Ericsson
- Tech Mahindra
- NTT Corporation
- Schneider Electric
- GP Smart Stadium
- NXP Semiconductors
- Vix Technology
- Hawk-Eye Innovations
- Locbee
- Dignia Systems Ltd.
- Atos
- Honeywell
- Ucopia
- AllGoVision
- AiFi
- Pixellot
- Verizon
- AT&T
- Vodafone
- T-Mobile
- Telefonica
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Smart Stadiums Market, by Solution
7 Smart Stadiums Market, by Service
8 Smart Stadiums Market, by Region
9 Competitive Landscape
10 Company Profiles
11 Adjacent/Related Markets
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ga1yec
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