According to a recent report published by Allied Market Research, titled,"Smart Stadium Market by Component, Application, and Deployment Type: Global Opportunity Analysis and Industry Forecast, 2018-2025,"the global smart stadium market size was valued at $4,192.1 million in 2017, and the market forecast is projected to reach $ 22,101.9 million by 2025, registering a CAGR of 23.1% from 2018 to 2025.
Increased focus on fan engagement and ongoing efforts to enhance their experience among the sports arenas, initiatives for energy-efficient buildings, and government regulations of public safety & security in stadium majorly drive the growth of the global smart stadium market size. However, the high initial investment costs, longer wait for ROI and security concerns associated with connected devices restrain the growth of the smart stadium industry. Recently, Amsterdam Innovation Arena collaborated with several partners to innovate its infrastructure for enhanced fan experience. They have collaborated with giant companies such as Microsoft, Philips Lighting, Huawei, along with the municipality of Amsterdam. In addition, FIFA World Cup Russia used the MIFARE products of NXP Semiconductors N.V., one of the key players of smart stadium market to bring secure and contactless ticketing to the matches. Its chip less solution was embedded inside the match tickets aimed to provide fans with fast, safe, and hassle-free access to Russias spectacular World Cup stadiums. This NFC technology solutions were equipped with a smart RFID chip, commonly known as NXPs MIFARE Ultralight EV1 contactless IC, which features an authenticity check with the help of a special originality signature to prevent illicit trading and ticket fraud. As a result, the smart stadium ticketing solutions provided the FIFA World Cup organizers a transparent view of these grey markets. Similarly, AT&T provided stadiums with cutting-edge technology in Arlington, Texas. The company provided a digital interactive experience for fans by high-speed internet connectivity and kiosk solutions and signage.
According to smart stadium market analysis, the on-premise based smart stadium solutions dominated the global market in 2017, as on premise solutions provide better and flexible maintenance of servers and continuous system. Furthermore, cloud-based segment is expected to grow at the highest CAGR during the forecast period, due to surge in demand for cloud-based analytics solutions and large storage solutions which can store terabytes of data, such as enormous 4K video files and many more which make it a major smart stadium market opportunity.
The global smart stadium industry was led by the public safety and security segment in 2017, and is projected to maintain its dominance during the forecast period. However, the building automation management segment is expected to witness the highest growth rate.
In 2017, the global smart stadium market was dominated by Europe, and is expected to maintain this trend during the forecast period. However, the Asia-Pacific segment is expected to witness the highest growth, owing to rise in sports league culture and increase ICT spending in sports infrastructure among developing countries in the region.
Key Findings Of The Study
- By deployment type, the cloud-based segment is expected to exhibit significant growth in the global market during the forecast period.
- In 2017, Europe accounted for the highest smart stadium market share among other regions.
- Based on application, the public safety and security segment generated the highest revenue in 2017.
- By region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
The global smart stadium market include some of the key market players such as 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.