Northbrook, IL 60062 -- (SBWIRE) -- 08/04/2023 -- The global Smart Stadium Market size is projected to grow from USD 14.3 billion in 2023 to USD 34.5 billion in 2028 at a Compound Annual Growth Rate (CAGR) of 19.2% during the forecast period, according to research report by MarketsandMarkets™.

The growth of the smart stadium market is primarily driven by rapid advancements in IoT, data analytics, cloud computing, and mobile applications. Also, the need to optimize venue operations, crowd management, and security, leading to better resource utilization and cost savings for stadium management will drive the market.

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207 - Tables
37 - Figures
204 – Pages

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Based on offering, the services segment to grow at a higher CAGR during the forecast period

The services segment of the smart stadium market comprises consulting services, deployment and integration, and support and maintenance services. The need to increase operational efficiency, achieve sustainability, and handle the changing business dynamics is driving the increased adoption of smart stadium services across all regions.

Based on solutions, the network management segment is expected to grow at the highest CAGR during the forecast period

Network management platforms facilitate communication between the stadium, workforce, and fans. Network management platforms ensure users receive IT services anywhere, anytime. With the help of these platforms, network administrators can easily detect any failure in the network and resolve issues in real-time by informing the support personnel. The rapid growth in global sporting events is driving the demand for stable and efficient data networks to ensure efficient day-to-day operations and management of stadiums.

Based on services, the support and maintenance segment is expected to grow at a higher CAGR during the forecast period

Support and maintenance service providers ensure regular maintenance and offer continuous improvements to these devices. The need to increase profitability, enhance the fan experience, empower communications, and improve the stadium infrastructure. Also, the need for technical expertise for high reliability and minimal downtime will drive the segment's growth.

Based on the digital content management solution type area, the mobile and web content management segment is expected to grow at a higher CAGR during the forecast period

Mobile and web content management software store and deliver content and services to mobile devices. The market segment is growing rapidly due to the adoption of web-based digital solutions and services by stadium operators. Also, the increasing use of the internet and sports analytics drives stadium operators to use mobile apps and web services at stadium venues.

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Europe to hold the highest market size during the forecast period

Europe is one of the most prominent regions in the smart stadium market. The European smart stadium market is projected to experience sustained growth due to funding policies at both the EU and individual state levels. European sports organizations are increasingly adopting smart stadium solutions. The UK, the birthplace of football and cricket, generates significant revenue from these sports. Consequently, sports organizations in the country are investing heavily to maintain a competitive edge within the industry. Governments across Europe have already initiated multiple research and development (R&D) ventures to convert traditional stadiums into smart stadiums by integrating IoT solutions and 5G connectivity.

Major vendors operating in the smart stadium market include IBM (US), Ericsson (Sweden), Intel (US), NTT (US), Tech Mahindra (India), Johnson Controls (US), Siemens (Germany), Honeywell (US), Cisco (US), NEC (Japan), Huawei (China), Schneider Electric (France), NXP Semiconductors (Netherlands), Atos (France), Verizon (US), AT&T (US), Vodafone (UK), T-Mobile (US), Telefonica (Spain), VIX Technology (Australia), Hawk Eye (UK), UCOPIA (France), AllGoVision (India), AiFi (US),Pixellot (Israel), Locbee (Hungary), Dignia (Israel), GP Smart Stadium (Netherlands).

Key Dynamic Factors For Smart Stadium Market:

The smart stadium market was already experiencing significant growth and technological advancements. However, since the market is continuously evolving. Here are some key dynamic factors that were influencing the Smart Stadium Market:

Technological Advancements: Smart stadiums use cutting-edge technologies to boost security and safety while also enhancing the fan experience. The following are important technologies: fast Wi-Fi, mobile apps, Internet of Things (IoT) gadgets, real-time data analytics, digital signage, and artificial intelligence.

Fan Engagement and Experience: For smart stadiums, enhancing the fan experience is a top priority. This entails delivering personalised content, engaging apps, delivering augmented and virtual reality experiences, and implementing integrated concessions and ticketing systems.

Data analytics and business intelligence: Smart stadiums gather a tonne of information about the preferences and behaviour of fans as well as the running of the stadium. This data can be examined to gain useful information about prospects for money generating, stadium use, and audience interaction.

Connectivity and Network Infrastructure: To support a large number of connected devices, enable real-time communication, and enable seamless interactions with fans, smart stadiums need high-speed and dependable connectivity.

Security and safety: With the proliferation of connected devices and data exchanges, smart stadiums must place a high priority on cybersecurity while also ensuring the security of the players, spectators, and personnel.

Sustainability and energy efficiency: To lessen their impact on the environment, smart stadiums are implementing eco-friendly procedures and technologies. This include measures for waste reduction, intelligent building management systems, and energy-efficient lighting.

Utilisation of Multi-Purpose Venues: In order to maximise their economic potential, many smart stadiums are built to be multipurpose. These locations may also host other types of entertainment events besides sporting ones, such as conferences, exhibits, and concerts.

Partnerships and Sponsorships: Partnerships and sponsorships with technology firms, broadcasters, and sponsors are essential to advancing innovation and generating income for smart stadiums.

Initiatives and Rules of the Government: The government's funding, support, and rules pertaining to the construction of sports facilities and smart cities can have a big impact on the development of the smart stadium industry.

Global Sports Events: Organising big international sporting events like the Olympics, FIFA World Cup, and other competitions frequently spurs investments in cutting-edge stadium infrastructure and technology.

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Competitive and Segmentation Analysis:

To meet a range of needs and tastes, the smart stadium market underwent segmentation and displayed fierce rivalry. Both well-known technology corporations and cutting-edge startups competing for a piece of the expanding smart stadium ecosystem characterised the market.

The market was divided into segments according to the kinds of technology and services that were provided. Wi-Fi, 5G, and IoT connectivity solutions, fan engagement platforms (mobile apps, AR/VR experiences, and social media integration), data analytics and business intelligence solutions, security and surveillance systems, and energy-efficient infrastructure technologies were some of the segments covered in this.

Additionally, smart stadiums were divided into different categories based on their location and seating capacity, with differing degrees of technological implementation dependent on the size and price of the venue. Compared to smaller stadiums and venues in emerging countries, major sports arenas and stadiums in industrialised nations were early adopters of smart technologies.

According to competition research, the market was dominated by well-known technology companies with knowledge of IoT, data analytics, and connection solutions. These teams provided end-to-end solutions that used a number of smart technologies to produce an enjoyable and smooth fan experience. Traditional stadium infrastructure suppliers and sports management corporations were also adjusting to the shifting market by collaborating and developing partnerships with technological companies.

Providing specialised solutions in fields like fan engagement, mobile ticketing, and venue management, startups and niche businesses also played an important role in the market. For experienced stadium operators wishing to upgrade their current infrastructure, their flexibility and creative solutions frequently made them desirable partners.

Among the major companies in the smart stadium business, strategic alliances with sports clubs, leagues, and event planners were frequent. As sports organisations sought to use the newest technologies to improve fan engagement, optimise stadium operations, and create new revenue sources, these alliances helped to boost acceptance.

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