NEW YORK, April 12, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p04430748
The global smart stadium market size is estimated to be USD 4.60 billion in 2018 and is expected to reach USD 12.50 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period. The major factors driving the growth of the smart stadium market include the upcoming national and internatonal sporting events, stringent secuirty regulations by sports governing bodies and increasing adoption of IoT technologies for efficient management of stadium infrastructure. However, high intial investment and longer wait for RoI are anticipated to limit the market growth in the coming years.
Building automation is expected to grow at the highest CAGR during the forecast period
The building automation software is expected to grow at the highest rate during the forecast period.Most stadium operators are shifting to smart Building Automation and are seeking solutions for space utilization, operational and cost efficiencies, sustainability, and building maintenance.
The adoption of smart building automation software is being driven by the increasing demand for energy-efficient, integrated, and secured stadiums.Facility management, parking management, and energy management system are the major components of building automation.
The increasing number of spectators is posing a major challenge related to parking for stadium operators.Parking management systems play an important role in managing multiple parking facilities, vehicle routing, controlling access, and managing ticketing and revenue on the real-time basis.
Advanced parking management systems help stadium operators ensure minimal time wastage, offer cashless and contactless payment options, enhance the vehicle security, and provide options for the pre-booking of parking spots. Stadiums are heavy consumer of energy for their operations, due to the use of floodlights, indoor and outdoor lighting, and heavy equipment. To optimize the use of energy for these activities, stadiums use the energy management system. Facility management system help stadiums operators with the efficient management of facilities and associated activities.
Deployment and integration service segment is expected to have the largest market share during the forecast period
The deployment and integration service segment is expected to have the larger market size, it is mainly due to the demand for managing and integrating technology solutions from various vendors.This service aims to streamlining business applications by integrating various modules of the day-to-day operations.
Stadium infrastructure has to integrate various technologies such as network management, building automations, digital content management, and others. With deployment and integration services, stadium achieve integration between enterprise applications, partners, people, and able to complement the project at the fast pace.
APAC is expected to grow at the highest rate during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.The major countries that are expected to witness high growth rates in this region include India, Japan, China, Australia, and the rest of Association of Southeast Asian Nations (ASEAN) countries.
This region is rapidly instrumenting digital technologies in stadium for increasing security, safety, and enhancing the fan experience. Furthermore, this region is going to host major events such as Olympics, T20 world cup, and rugby world cup that results in rapid implementation of smart stadium technologies.
The break-up profiles of the primary discussion participants are given below:
• By Company Type: Tier 1 (40%), Tier 2 (35%), and Tier 3 (25%)
• By Designation: C-Level (45%), Director Level (30%), and Manager Level (25%)
• By Region: North America (35%), APAC (30%), Europe (20%), and RoW (15%)
The following key smart stadium vendors are profiled in the report:
IBM (US), Tech Mahindra (India), NEC (Japan), Cisco (US), Huawei (China), Intel (US), Fujitsu (Japan), Johnson Controls (Ireland), NTT (Japan), Ericsson (Sweden), GP Smart Stadium (Netherlands), Centurlink (US), NXP Semiconductors (Netherlands), Vix Technology (Australia), Intechnology (UK), Hawk-Eye Innovations (UK), Locbee (Hungary), Insprid (UK), Byrom (UK), Volteo (US), Dignia (Israel), Atos (France), Honeywell (US), UCOPIA (France), Schneider Electric (France ), and AllGoVision (India).
Research Coverage
The global smart stadium market has been segmented by software, services and region.A detailed analysis of the regions has been done to provide insights into the potential future business opportunities across major regions.
In addition to this, the strength of service portfolio and business strategy excellence are some of the other MarketsandMarkets analysis included in the report.
Reasons to Buy the Report
The report will help the market leaders/new entrants in the smart stadium market in the following ways:
1. The report segments the smart stadium market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different regions.
2. The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. The report helps the stakeholders understand the competitors and gain more insights to better their position in the market.
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