Smart Stadium Market Size to Reach US$ 23.3 Billion by 2028 | Industry CAGR of 21.9%
The global smart stadium market size reach US$ 23.3 Billion by 2028, exhibiting a growth rate (CAGR) of 21.9% during 2023-2028.
NY 11249, BROOKLYN, UNITED STATES, July 12, 2023/EINPresswire.com/ — IMARC Group, a leading market research company, has recently releases report titled, “Smart Stadium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“ The study provides a detailed analysis of the industry, including the global smart stadium market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the smart stadium market?
The global smart stadium market size reached US$ 7.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.3 Billion by 2028, exhibiting a growth rate (CAGR) of 21.9% during 2023-2028.
What is smart stadium?
A smart stadium is a venue that integrates digital and automated technological solutions to offer real-time information on parking availability, bathroom and concession lines, seat upgrades, and exclusive promotions. It employs data analytics software to create personalized fan experiences through loyalty programs and expedite navigation among crowds. In addition, it relies on networking sensors and existing systems, which rely on the Internet of Things (IoT) technology to monitor the facility to ensure safety and security. At present, smart stadiums find extensive applications in managing and controlling building systems, such as lighting, heating, ventilation, and air conditioning (HVAC) across the globe.
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What are the growth prospects and trends in the smart stadium industry?
The global smart stadium market is primarily driven by the increasing demand for seamless stadium experiences and live sports and entertainment events. Moreover, key players are offering cutting-edge services to compete with at-home entertainment systems and designing state-of-the-art stadiums with augmented reality (AR), interactive seats, and big screens, thereby positively influencing the market growth. Additionally, the surging adoption of smart stadiums, as they have monitors throughout the venue that provide real-time access to players’ profiles, statistical data, and fantasy performances on smartphones, tablets, and stadium kiosks, has catalyzed the market growth. Furthermore, the introduction of smart stadiums that can be automated to conserve energy, reduce the number of staff required, and minimize maintenance costs to address environmental concerns is contributing to market growth. Other factors, including the rapid expansion of sports league culture, green initiatives by governments of various nations, and significant improvements in e-commerce infrastructure, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
Software
Services
Breakup by Deployment Model:
On-premises
Cloud-based
Breakup by Application:
Digital Content Management
Stadium and Public Security
Building Automation Management
Event Management
Crowd Management
Network Management
Others
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Cisco Systems Inc.
GP Smart Stadium
Honeywell International Inc.
Huawei Technologies Co. Ltd.
Intel Corporation
International Business Machines Corporation
Johnson Controls International
NEC Corporation
NXP Semiconductors N.V.
Schneider Electric SE
Tech Mahindra Limited (Mahindra Group)
Telefonaktiebolaget LM Ericsson.
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