Press release
Soaring Demand Set to Propel Smart Stadium Market to $37.79 Billion by 2029
Smart Stadium
What Is the Expected CAGR for the Smart Stadium Market Through 2025?
The intelligent stadium industry has experienced exponential growth lately. The market value is set to swell from $13.55 billion in 2024 to $16.48 billion in 2025, at a compound annual growth rate (CAGR) of 21.6%. The surge during the historical phase can be accredited to the enhancement of fan experience, improvements in operational efficiency and cost savings, implementation of safety and security protocols, data-driven monetization possibilities, and sustainable practices.
What's the Projected Size of the Global Smart Stadium Market by 2029?
In the coming years, a significant surge is anticipated in the size of the smart stadium market. The market is projected to expand to $37.79 billion by 2029, with a compound annual growth rate (CAGR) of 23.1%. The escalation in the predicted period can be credited to factors such as 5G network and high-speed connectivity, touchless and cash-free transactions, customised fan experiences, intelligent venue management, and analytics. The forecast period is expected to witness trends like innovative seating and viewing experiences, enhanced security and surveillance measures, green and ecological initiatives, real-time operational data analytics, and intelligent solutions for parking and transportation.
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Top Growth Drivers in the Smart Stadium Industry: What's Accelerating the Market?
The increasing popularity of sports leagues is expected to fuel the expansion of the smart stadiums market in the approaching years. A sports league consists of multiple clubs that compete against each other, following a designated set of rules and guidelines. Smart stadiums offer an abundance of information to fans and staff about the game, parking facilities, seat upgrading options, and the entire experience at their sports venue. For example, according to Construction Management, a US-based publication, in August 2023, the stadium's capacity is set to surpass 50,000, thanks to the new stand adding an extra 7,300 seats. This new addition will also encompass commercial space, enhanced accessibility, and local transport facilities. Consequently, this escalating sports league trend propels the smart stadiums market's growth.
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What Trends Will Shape the Smart Stadium Market Through 2029 and Beyond?
The smart stadiums market is being transformed by the incorporation of cutting-edge technologies. Key players in this field are concentrating on combining these modern technologies to deliver a captivating experience to fans from all corners of the globe. For instance, in May 2022, Google LLC, a technology multinational based in the US, accenture* PLC, an IT and services firm based in Ireland, and Telstra Group Limited, a telecommunications firm based in Australia, joined forces to introduce smart stadium features in the Australian football stadium, Marvel. This was achieved through the creation of 5G-powered AR wayfinding. The 5G-powered AR wayfinding, a product of Telstra's 5G abilities and Google's Cloud platform, machine learning, and ARCore Geospatial API, provides a virtual experience to visitors. These include interactions with virtual brands and digital characters, directions to seating, and other wayfinding features, all aimed at enriching people's interactions with the physical surroundings.
What Are the Main Segments in the Smart Stadium Market?
The smart stadiummarket covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment: On-Premise, Cloud, Hybrid
3) By Application: Stadium And Public Security, Building Automation, Event Management, Crowd Management, Other Applications
Subsegments:
1) By Software: Event Management Software, Crowd Management Software, Ticketing Solutions, Digital Signage Solutions
2) By Services: Consulting Services, Integration And Deployment Services, Support and Maintenance Services, Managed Services
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Which Top Companies are Driving Growth in the Smart Stadium Market?
Major companies operating in the smart stadium market include Nippon Telegraph and Telephone Corporation, Huawei Technologies Co Ltd., Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., Fujitsu Limited, Telefonaktiebolaget LM Ericsson, Johnson Controls International plc, NEC Corporation, CenturyLink Inc., Infosys Limited, NXP Semiconductors NV, Locbee, Atos SE, Tech Mahindra Limited, HPE Aruba Networking, Vix IP Pty Ltd., Hawk-Eye Innovations Ltd., Volteo Technology Pvt Ltd., Dignia Systems Limited, Precision Sports Technologies Ltd., AllGoVision Technologies Pvt Ltd., GP Smart Stadium, Dignia Volteo GP Smart Stadium, Intechnology Byrom Ltd., Ucopia Communications SA
Which Regions Will Dominate the Smart Stadium Market Through 2029?
Europe was the largest region in the smart stadium market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart stadium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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