Smart Stadium Market Forecasts to 2028 – Global Analysis By Component (Services and Software), Deployment Type (Cloud based and On-premise), Application and By Geography

Smart Stadium Market Forecasts to 2028 – Global Analysis By Component (Services and Software), Deployment Type (Cloud based and On-premise), Application and By Geography

According to Stratistics MRC, the Global Smart Stadium Market is accounted for $9.42 billion in 2022 and is expected to reach $32.95 billion by 2028 growing at a CAGR of 23.2% during the forecast period. Technological progress has resulted in tremendous increase in the realm of sporting activities. The smart stadium concept has been proposed in order to meet the digital expectations of the viewer. A smart stadium employs numerous cameras, sensors, and digital signs over wired and wireless networks. Smart stadiums provide a wealth of information to the audience and staff personnel, and they directly answer to the viewers' demands in areas such as parking availability, in-stadium merchandise pricing, bathroom vacancy, seat upgrades, and many more. These stadiums have enabled them to deliver a personalised experience to the crowd.

According to the Sportscasting report, with a revenue of $2.5 billion in 2020, the Australian Football League sells out approximately 40,000-seat stadiums and continues to expand into one of the most profitable sports leagues in the world.

Market Dynamics:

Driver:

Increase in focus on fan engagement experiences at stadium

Digital signage is a significant component of the digitally linked experience. High-tech consumer devices provide technologically complex services, which has improved sports fans' at-home experience. The most difficult task for stadium operators is the at-home experience. Stadium operators are concentrating on providing delightful fan experiences at stadiums to solve this difficulty. These include shorter lines when entering and exiting stadiums, better directions, and faster internet connections. To facilitate the aforementioned fan experiences, smart stadiums offer open Wi-Fi and stadium apps to fans. This contributes to increased income as well as improved spectator experiences, all of which are likely to boost the smart stadium market during the forecast period.

Restraint:

High initial investment

The smart stadium is a technological marvel that includes gear such as WI-FI access points, gateways, and sensors. The technology infrastructure layer of smart stadiums includes networking equipment, physical hardware, and operational software, all of which demand significant expenditure from stadium owners to install and maintain. Furthermore, smart stadiums are required to be built in accordance with the sport governing bodies' stringent public security regulations, which raises the overall stadium construction cost. Moreover, the stadium owners have to wait for longer time period for return on investment (ROI). Thus, the stadium owners are reluctant to invest significantly at initial stage of stadium construction, which is expected to hinder the growth of the smart stadium market.

Opportunity:

Growth in sports league culture in developing countries

With the rise of franchise-based leagues around the world, sport governing bodies are pushing corporations and prominent individuals to invest in franchise-based leagues in order to promote sports globally. Due to the glamour of these competitions, sports enthusiasts are anxious to experience them in stadiums. Such leagues have expensive stadium ticket prices. As a result, there is a rise in fan expectations for better experiences such as on-seat food delivery, live engagement among stadium attendees, and hassle-free parking. The solution to the aforementioned sports fans' queries is smart stadium, and hence the expanding sports league culture is smart stadium market opportunity.

Threat:

Open Wi-Fi networks’ vulnerability to cyber-attacks

The free high-speed wireless Internet available at smart stadiums may pose a threat to cybersecurity. Stadium owners employ Wi-Fi analytics data acquired during an event to engage people via their smart phones; nevertheless, it is also a soft target for cyber-attackers. If any infrastructure had an open Wi-Fi hotspot, more than half of the individuals present would connect to it. When a fan connects to open Wi-Fi and uses it for any activity, such as sending business mail, a lot of important information is at risk. There is a risk that the information will be hacked, as there are numerous ways for a hacker to pose a threat to Wi-Fi hotspots. Hackers are capable of intercepting mobile transactions and introducing malware to people’s phones via public Wi-Fi networks.

Covid-19 Impact

The Covid19 epidemic has reduced demand for new smart stadiums. This is due to the postponing and cancellation of sporting events around the world. Many of the major sporting events scheduled for 2020 have been pushed back to 2021 or later. This has had an impact on the construction of new smart stadiums. The price of materials used in the construction of smart stadiums has decreased as demand has decreased. This is owing to the fact that many suppliers have surplus inventory that they are attempting to offload. The Covid19 epidemic has had a significant impact on the development of new smart stadiums.

The software segment is expected to be the largest during the forecast period

The software segment is estimated to have a lucrative growth, owing to rise in focus on fan engagement by providing them the best possible experience. Furthermore, the increased demand for crowd analytics and event management software fuels market growth. The increased emphasis on video and audio management, video surveillance, and cybersecurity has contributed to a greater demand for software to execute these processes, where it works as an interface. Increased investment by stadium operators in software for cloud analytics, data security, and communication link management attributes to improve operations and give cost-effective solutions for stadium staff.

The cloud based segment is expected to have the highest CAGR during the forecast period

The cloud based segment is anticipated to witness the highest CAGR growth during the forecast period. Stadium operators and owners who are forward-thinking provide access to stadium applications to enhance the fan experience. It also reduces the physical efforts of the employees in directing the crowd towards the nearest entries and exits. With the help of the cloud, they can use their mobile phones to view live videos and information about seat locations and parking places at the match. Such factors are responsible for the significant demand for the cloud segment over the forecast period.

Region with highest share:

Europe is projected to hold the largest market share during the forecast period due to the widespread use of smart stadium technologies and significant technological spending across many stadiums in the area. Furthermore, sports teams spend a significant portion of their revenue on stadiums in order to provide a memorable experience for their fans in the stadiums. The European Union has launched smart projects to transform an increasing number of stadiums into smart stadiums. R&D, innovation, and policy needs connected to smart stadium integration are taking place, which will drive the smart stadium market during the projection period.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. India, Japan, China, Australia, and the Association of Southeast Asian Nations (ASEAN) countries are among the key countries predicted to experience significant growth rates in this region. Asia Pacific is increasingly adopting digital technologies in stadiums to improve security, safety, and spectator experience. Furthermore, the region will host major events such as the Olympics, T20 World Cup, and Rugby World Cup, which will result in the rapid implementation of smart stadium technologies.

Key players in the market

Some of the key players profiled in the Smart Stadium Market include Johnson Controls, NXP SEMICONDUCTORS, GP Smart Stadium, International Business Machines Corporation (IBM), Ericsson, Huawei Technologies Co., Ltd., Cisco Systems, Inc., Intel Corporation, SCHNEIDER ELECTRIC, NEC Corporation, Fujitsu Ltd., Intel Corporation, Tech Mahindra Ltd. and Voltio.

Key Developments:

In November 2019, Cisco Systems Inc., partnered with SoFi Stadium in Los Angeles to deploy cutting edge IoT and audio-visual solutions at what will be the biggest venue in the NFL.

In July 2018, stadium technology partner IBM was included in the design process at the Mercedes-Benz Stadium at the earliest feasible moment. The business created ‘To Be Journeys,’ which are essentially road maps for customers who are planning to attend a Mercedes-Benz event, as well as the days before and after their visit.

In November 2018, Huawei launched its digital platform centered on delivering new ICT, such as artificial intelligence (AI), the Internet of Things (IoT), Big Data, and cloud, enabling city-wide intelligence and sustainable development across the international smart city industry.

Components Covered:
• Services
• Software

Deployment Types Covered:
• Cloud based
• On-premise

Applications Covered:
• Event Management
• Digital Content Management
• Stadium and Public Security
• Network Management
• Crowd Management
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements