“Connectivity advancements, fan engagement technologies, and IoT integration drive the Smart Stadium market’s growth.”
PORTLAND, ORIGON, UNITED STATES , November 15, 2023 /EINPresswire.com/ — 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.
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The global smart stadium market size is primarily driven by an increased emphasis on enhancing fan engagement and improving their overall experience within sports arenas. Furthermore, the growth of this market is fueled by initiatives to create energy-efficient stadium facilities and government regulations that focus on public safety and security within stadiums. Nevertheless, there are certain factors that impede the expansion of the smart stadium industry, including the substantial initial investment costs, extended timeframes required to achieve return on investment, and security concerns related to connected devices. Notably, the Amsterdam Innovation Arena has partnered with prominent companies such as Microsoft, Philips Lighting, Huawei, and the municipality of Amsterdam to revamp its infrastructure and elevate the fan experience.
Furthermore, during the FIFA World Cup in Russia, NXP Semiconductors N.V., a key player in the smart stadium market, employed MIFARE products to introduce secure and contactless ticketing to the matches. These chipless solutions were integrated into the match tickets, aiming to offer fans rapid, secure, and hassle-free access to the remarkable World Cup stadiums in Russia. These NFC technology solutions featured a smart RFID chip, specifically the NXPs MIFARE Ultralight EV1 contactless IC, which includes an authenticity check through a distinct originality signature to deter illicit ticket trading and fraud. Consequently, these smart stadium ticketing solutions provided FIFA World Cup organizers with a clear view of activities in the secondary ticket markets. Similarly, AT&T delivered state-of-the-art technology solutions to stadiums in Arlington, Texas, enhancing the fan experience through high-speed internet connectivity, kiosk solutions, and signage.
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Key Findings Of The Study:
1. By deployment type, the cloud-based segment is expected to exhibit significant growth in the global market during the forecast period.
2. In 2017, Europe accounted for the highest smart stadium market share among other regions.
3. Based on application, the public safety and security segment generated the highest revenue in 2017.
4. By region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
According to the analysis of the smart stadium market, in 2017, on-premise-based smart stadium solutions held the leading position in the global market. This was due to the advantages they offer in terms of server maintenance and system continuity. Additionally, it is projected that the cloud-based segment will experience the highest Compound Annual Growth Rate (CAGR) in the coming years. This growth is driven by the increasing demand for cloud-based analytics solutions and the need for substantial storage capabilities, capable of storing vast amounts of data, including extensive 4K video files, among others. This presents a significant opportunity in the smart stadium market.
The global smart stadium industry was primarily led by the public safety and security segment in 2017 and is expected to maintain its dominant position in the foreseeable future. However, the building automation management segment is anticipated to exhibit the highest growth rate.
In 2017, Europe emerged as the dominant region in the global smart stadium market, and it is likely to maintain this position in the forecast period. Nevertheless, the Asia-Pacific segment is expected to experience the most substantial growth. This is attributed to the increasing sports league culture and a rise in Information and Communication Technology (ICT) investments in sports infrastructure within developing countries across the region.
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Leading Market Players:
➢ Cisco Systems
➢ Huawei Technologies Co., Ltd
➢ IBM Corporation
➢ Intel Corporation
➢ NEC Corporation
➢ Johnson Controls International plc
➢ GP Smart Stadium
➢ Ericsson
➢ NXP Semiconductors N.V
➢ Schneider Electric SE.
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Similar Report:
1. Smart Stadium Solution Market
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