SecurityWorldMarket

06/12/2016

Europe leads the way in the smart stadiums market

Hadapsar, India

The most recent report on the smart stadiums market from Marketsandmarkets predicts that the smart stadium market size is expected to grow from USD 4.62 Billion in 2016 to USD 17.32 Billion by 2021, at a compound annual growth Rate of 30.2%, and that Europe will be the leading region in this field, during the period 2016–2021.

The researchers found that the major drivers for the rise in demand for smart stadiums include increased frequency in upcoming national and international sporting events across the globe, increasing adoption of the Internet of Things (IoT), the need for modernisation of network and telecom infrastructures, and a continued drive for the reduction in operational expense.

The professional services segment is estimated to dominate the largest market share in the smart stadium market. The focus on offering specialist services to achieve greater customer experience and attaining operational efficiency at a reduced cost and time are the factors driving the demand for smart stadium services across the globe. The smart stadium market is growing at an exponential rate since most of the players are focusing on providing specialised services for the smart stadium market. Rapidly growing demand for cloud services, data centre services, network services, and its reliable and efficient integration are some of the other drivers impacting the services market.

The on-demand deployment model is witnessing a potential growth in comparison to the on-premises deployment model owing to the benefits it offers, such as reduced operational cost and improved efficiency, high security & low maintenance, physical location independence, easy installation, and much more. The stadium owners/investors are opting for this model keeping in mind the long term benefits and achieving a competitive advantage in terms of technological advancements.

The major players found by the analysts to be operating in this market are Huawei Technologies Co. Ltd, Intel Corp, NEC Corp, Cisco Systems, Inc, International Business Machines Corporation, Fujitsu, Johnson Controls, Tech Mahindra, Volteo, and GP Smart Stadium.

Europe is expected to hold the largest market share and dominate the smart stadium market in 2016. The governments in this region have undertaken many smart commitments. The European Technology Platform on Smart Systems (EPoSS) Integration defines the Research and Development, innovation needs, and policy requirements related to Smart Systems Integration and integrated Micro and Nanosystems. The Europe 2020 targets include investment of 3% of the European Union’s GDP in R&D. The Strategic Energy Technology Plan (SET-Plan) aims to reduce the cost and improve performances of low carbon technologies. All this has pushed the smart stadium market toward the growth phase.


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