Smart stadiums market driven by rapid growth in IoT

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The 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 the latest data coming from researchers at Marketsandmarkets. This growth is primarily driven by rapid advancements in IoT, data analytics, cloud computing, and mobile applications. Also, analysts found that the need to optimise venue operations, crowd management, and security, leading to better resource utilisation and cost savings for stadium management will drive the market.

The services segment made up of consulting services, deployment and integration, and support and maintenance services is predicted to grow at the highest CAGR over the forecast period. 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.

Network management solutions show strong potential

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.

Support and maintenance an important factor

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.

Digital content management presents rapid growth

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.

Global picture

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 organisations are increasingly adopting smart stadium solutions. The UK, the birthplace of football and cricket, generates significant revenue from these sports. Consequently, sports organisations 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.

Key players

Some of the major vendors operating in the smart stadium market and named in the report include, IBM, Ericsson, Intel, NTT, Tech Mahindra, Johnson Controls Siemens, Honeywell, Cisco, NEC, Huawei, Schneider, NXP Semiconductors, Atos, Verizon, AT&T, Vodafone, T-Mbile, Telefonica, VIX Technololgy, Hawk Eye, Ucopia, Allgovision, Aifi, Pixellot, Locbee, Dignia, and GP Smart Stadium.


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