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Segment Analysis and Major Growth Areas in the Entertainment and Sports Buildings Market
Entertainment And Sports Buildings Market
Projected Market Growth for Entertainment and Sports Buildings by 2030
The entertainment and sports buildings market is anticipated to reach a valuation of $393.95 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.7%. This steady growth is fueled by the integration of smart stadium technologies, a heightened emphasis on sustainable construction practices, renovation of outdated facilities, development of mixed-use entertainment complexes, and increased funding from private sector stakeholders. Significant trends expected to influence the market include the rise in multipurpose stadium construction, growing demand for contemporary theaters and cultural venues, expansion of large-scale sports complexes, refurbishment of aging entertainment sites, and enhanced investment in premium amenities for fans and visitors.
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Key Companies Leading the Entertainment and Sports Buildings Industry
Several prominent organizations dominate the entertainment and sports buildings market, including Shanghai Construction Group Co. Ltd., Bouygues SA, Obayashi Corporation, Daiwa House Industry Co. Ltd., Metallurgical Corporation of China Limited, Sunac China Holdings Ltd., Kajima Corporation, Brookfield Asset Management, Sekisui House Ltd., China Communications Construction Company Ltd., China State Construction Engineering Corp. Ltd., Larsen & Toubro Ltd., Vinci Construction SA, Greenland Holding Group, Turner Construction, AECOM Technology Corporation, Skanska AB, Jacobs Engineering Group Inc., Fluor Corporation, Balfour Beatty plc, Clark Construction Group LLC, Hensel Phelps Construction Co., PCL Construction Enterprises Inc., McCarthy Building Companies Inc., Mortenson Construction, Whiting-Turner Contracting Company, Gilbane Building Company, DPR Construction Inc., JE Dunn Construction Group Inc., Webcor Builders Inc., Swinerton Inc., Suffolk Construction Company Inc., Ryan Companies US Inc., Barton Malow Company, The Boldt Company, Henry C. Beck Company, Gray Construction Services Inc., The Haskell Company, and The Korte Company.
In a major development in August 2024, US-based sports and entertainment venue management firm Legends acquired ASM Global for $2.3 billion. This acquisition aims to strengthen Legends' position within the live entertainment and sports venue sector by broadening its service portfolio, which includes premium ticketing, sponsorship, hospitality, and food and beverage operations. ASM Global, also headquartered in the US, specializes in venue and event management services catering to entertainment and sports facilities.
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Emerging Trends Highlighting the Future of Entertainment and Sports Buildings
Leading companies in the entertainment and sports buildings market are focusing on innovative projects designed to boost community involvement, encourage physical activity, and support local economies. One prominent example is the development of sports facility projects, which encompass the planning, design, construction, or renovation of specialized venues tailored for sports events, training, and activities.
For example, in November 2023, Danube, a UAE-based building materials company, introduced the Sportz project-a 39-floor residential tower in Dubai Sports City featuring 1,100 apartments with exceptional sports amenities. These include an Olympic-sized lap pool, trampoline area, table tennis facilities, wall climbing, and a sky jogging track, providing residents with an unparalleled recreational lifestyle. Furthermore, Sportz offers coaching and mentoring services, underscoring Danube Properties' dedication to fostering an active, vibrant community in Dubai.
Segment Breakdown of the Global Entertainment and Sports Buildings Market
This market is categorized into several segments to better understand its scope:
1) Building Type:
- Non-Residential Smart Buildings
- Traditional Buildings
2) Construction Type:
- New Construction
- Renovation
3) End User:
- Private
- Public
Further subcategories include:
- Non-Residential Smart Buildings such as Smart Stadiums, Smart Theaters, and Smart Arenas
- Traditional Buildings comprising Conventional Stadiums, Traditional Theaters, and Classic Arenas
This segmentation provides a comprehensive framework for analyzing the diverse components and evolving trends within the entertainment and sports buildings market worldwide.
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