Smart Stadium Market is Projected to Reach $ 22,101.9 Million by 2025 with Leading Key Players Such as Cisco Systems, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, NEC Corporation, Johnson Controls International plc, Ericsson.
The global smart stadium market accounted for $4.1 billion in 2017 and is expected to reach $22.1 billion by 2025, growing at a CAGR of 23.1% during the forecast period, 2018-2025.
By deployment model, the cloud segment is projected to grow at the fastest CAGR of 25.2% during the forecast period and generate slightly more than half of the global revenue by 2025. This is due to increased adoption of cloud-based software to collect & analyze data, which eventually improves operational processes and amplifies fan engagement at stadiums.
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By component, the software segment occupied more than two-thirds of the overall market share in 2017 and is expected to continue its dominance through 2025. This is attributed to increased investment by stadium operators on software for cloud analytics, data security, and communication link management – which enhances operations and provides cost-effective solutions for stadium staffs.
By application, the building automation management segment is poised to encounter the highest growth rate from 2018 to 2025, a CAGR of 26.1%, on account of providing facilities managers with deeper insights which help them take faster judgment. In addition, these systems also reduce administrative workload, which has resulted in an increased adoption among end users.
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Europe is expected to continue its global market dominance and generate one-third of the overall revenue by 2025, due to the presence of well-established sports infrastructure in countries such as the UK, Germany, and Russia. Additionally, Europe is also the hub for a large number of soccer events that drive the adoption of connected solutions among stadium operators.
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The key players analyzed in the report include Cisco Systems, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, NEC Corporation, Johnson Controls International plc, GP Smart Stadium, Ericsson, NXP Semiconductors N.V., and Schneider Electric SE. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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