Smart Stadium Market to Touch US$ 19.3 Billion by 2027, at a CAGR of 22.4%

IMARC Group has recently released a new research study titled "Smart Stadium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

What are the growth prospects of the smart stadium industry?

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.

What is a smart stadium?

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).

Impact of COVID-19:

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.

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What are the major market drivers in the smart stadium market?

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:

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

List of Major Key Players:

The major players in the market are

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.

Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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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.

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