September 25, 2019 by Jason Lee
Smart stadium is the key to attract more fans to the stadium to enhance their live event experience as well as improve stadium security, which will eventually increase the profitability of stadium operators. At-home experience provided by the high-tech consumer devices as well as comfort of being at home possess key challenge for stadium operators to lure their fans for stadium experience. Smart stadiums include features such as optimized energy usage, improved building management, and automated maintenance work order which results in cost-effective maintenance of the stadium.
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Increase in focus on fan engagement experience at stadiums and rise in adoption of IoT technologies for efficient management of stadium infrastructures are some major factors, which drive the growth of the smart stadium market. Moreover, the stringent security regulations for safety of public by sports governing bodies and green initiatives by government of various countries drive the growth of the smart stadium market. However, high initial investment and longer wait for return on investment (ROI) are expected to hinder growth of the smart stadium market. In addition, security concerns associated with adoption of IoT technologies in smart stadiums, leading to the more number of cyber security lapses are a major restraint for the market growth. Furthermore, the increase in number of sports league culture across the globe and rise in live events such as Sunburn, VH1 supersonic and music concerts are expected to present major opportunities for the growth of the smart stadium market during the forecasted period.
The global smart stadium market is segmented based on component, application, deployment model, and region. Based on component, it is bifurcated into software and service. Based on application, it is segregated into digital content management, stadium & public security, building automation, event management, crowd management, and network management. Based on deployment type, it is bifurcated into on-premise and cloud based. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The report analyzes the profiles of key players operating in the market including 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.
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