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Stadium Security Market: Increasing Number of Sports Events Organized Worldwide Fuels Demand for Advanced Stadium Security
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In order to gain edge over competition, the companies operating in the global stadium security market are toying with diverse growth strategies such as mergers and acquisitions, product development, collaborations and partnerships, and others. In recent case in point is GP Smart Stadium partnering with VDL, which is one of the leading providers of seating system solutions. Through this partnership, these companies aimed at successfully deploying advanced systems in Basrah International Stadium, located in Iraq. Besides this some of the most prominent players operating in the global stadium security market are Genetec Inc., AxxonSoft, Avigilon, Dallmeier, BOSCH Security Systems, CISCO Systems Inc., Honeywell International Inc., Rapiscan Systems, NEC Corporation, and Intel Corporation
TMR pegged the overall value of the global stadium security market at US$6.94 bn in 2016. Exhibiting an impressive CAGR of 12.74%, the global market is expected to reach US$20.20 bn by the end of 2025. Based on sales channel, the market is likely to gain significantly from the channel partner segment. Regionally, Europe exhibits high demand for advanced stadium security systems on account of the large number of sporting events organized in the region. Also being home to several football clubs, the region boasts a substantial number of stadiums, which require appropriate security systems. This factor will have a positive impact on the overall market as well.
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Rising Threat of Terrorist Attack Prompts Installation of Stadium Security
When major events are organized, ensuring security of stadiums and venues hosting these events is of prime importance. Sports can attract huge public gathering, which makes handling sudden outburst or misbehavior within crowd a herculean task. Also the risk of terrorist attacks has been a constant threat. Especially after Paris attack in 2015, and Manchester attach more recently in 2017, organizers have become wary of possibility of recurrence. Hence they are keen on spending heavily on advanced stadium security systems. Presently almost every big stadium around the world is equipped with state-of-art security systems, which consists of however is not limited to CCTV cameras, access control systems, fire alarms, metal detectors, intrusion alarms, and other advanced systems.
Lack of Fund for Investing in Advanced Stadium Security May Hinder Market’s Growth
The rising frequency of various sporting events organized worldwide is the chief driver of the global stadium security market. Such extravagant events are attended by scores of audiences from around the world. At the same time, these events may attract unwanted attention from anti-social outfits. In order to ascertain safety of visitors and help them enjoy improved spectator experience, the installation of security systems has significantly increased. Also, using these smart security systems, security agencies can respond promptly in the event of any untoward occurrence or emergency. On the downside, a few regions may have indigenous stadium infrastructure, which are unable to cope with the novel smart technologies. Furthermore, these stadiums may run low on investment, which could hinder the market’s expansion to an extent. Lack of fund is thus identified as a key restraint for the market.
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This review is based on a TMR report, titled “Stadium security Market (Components – Hardware (Access Control Systems and Video Surveillance Systems), Software (On-premise, Cloud), and Services (Installation and Maintenance services); Sales Channel – Channel Partners and Direct Sales) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025.”
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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