Smart Stadium Market Is Anticipated To Reach $21 Billion By 2025 Due To Increasing Focus on Entertaining & Engaging The Fan Inside Stadium | Million Insights
The global smart stadium market size is estimated to reach USD 21.00 billion by 2025 and is projected to grow at a CAGR of 20.9% from 2019 to 2025, according to a new report by Million Insights. Growing focus on entertaining & engaging the fan inside the stadium along with guidelines set by sports government authorities is mainly contributing to market growth. The increasing number of national & international sports events with a data-driven approach is expected to spur the market growth in the next few years.
In developed and developing countries stadiums are renovating through enhanced security, smart facility, greater viewing experience and operational efficiency. Smart stadiums include sensors, digital signs, parking solutions, surveillance solutions and others. These solutions provide real-time data like available parking, merchandise pricing information which improves customer experience. Moreover, smart stadiums also assist green initiatives regarding disposable waste in the stadium.
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Europe constituted to largest market share, in 2018. This growth is supported by a large number of sports events such as football, cricket, hockey and others in the region. In Europe, there are more than 1,200 stadiums & different sports leagues & teams. Germany has dominated the European market with the highest market share.
Asia Pacific is estimated to propel at a significant CAGR over the forecasted period. It is projected to contribute a market share of around 23.7% by 2025. Technological advancement, digitalization and rising internet penetration are expected to support increased development for smart stadiums. Various sports organizers such as New Zealand Cricket, Melbourne Cricket Association utilize advanced technologies while hosting sports events. Australia, Singapore, India, China and Japan are focusing on developing existing stadiums with updated technology.
Key manufacturers in the smart stadium market include Apple, Inc.; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; NXP Semiconductors; Fujitsu Ltd.; NEC Corporation; Fitbit, Inc.; IBM Corporation; Intel Corporation; and Johnson Controls.
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Further key findings from the report suggest:
• Software component segment is projected to account for USD 12.97 billion by the end of 2025, due to rising focus on viewer or fans engagement.
• On-premise type segment is anticipated to lead the market with highest share. Smart stadiums include digital signs, wired servers, networks and cameras.
• Asia Pacific projected to grow at the CAGR of around 23.7% from 2019 to 2025.
• Key players in the market are NEC Corporation, IBM Corporation, Fujitsu, Cisco Systems, and Intel Corporation.
Million Insights has segmented the global smart stadium market based on component, deployment type and region:
Smart Stadium Component Outlook (Revenue, USD Million, 2015 – 2025)
• Software
• Stadium & Public Security
• Building Automation
• Event Management
• Others
• Services
Smart Stadium Deployment Type Outlook (Revenue, USD Million, 2015 – 2025)
• On-Premise
• Cloud
Smart Stadium Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• U.S.
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific
• Middle East & Africa
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