Sports Popularity and Stadium Market, in Tandem, are Witnessing Exponential Growth
A fusion of technological superiority and growing popularity of various sports have given rise to the trend of smart stadiums. The global smart stadium market is all set to scale a staggering valuation of USD 17 billion all the while charting a stellar, CAGR of 26% during the forecast period (2015-2022), claims Market Research Future (MRFR) in a holistic report on the same topic. With the growing popularity of sports, meeting the demands of fans and the implementation of better crowd management technology have become imperative. One of the major features of such stadiums is the incorporation of the digitization process from which broadcasting, advertisement, sponsorship offerings and merchandising benefit the most. Apart from these areas, command and control system, cyber security, application management such as audio and video, ticket, parking, facility, and event gain significant boosting which can spur the growth of the smart stadiums. A series of connected devices such as mobiles, laptops, sensors, motion tracking device, screen scanners, audio devices, HVAC devices, cameras and remote surveillance devices are required in order to have a sound operation.
However, its implementation cost is staggering that is barring the investors from investing in such stadiums. An overwhelming transformation of the existing traditional stadium requires a lot of cash which most of the investors are not finding lucrative enough. This can tailback the market for a considerable time. But it’s the trend that always controls the market. Hence, this slackening speed can soon find a fissure to gain momentum.
Industry Trend:
The market has a lot of potential in drawing in the latest innovations to constantly upgrade the system. The trend started with Croke Park stadium in Dublin which is still the testing ground for all the latest innovations. NXP Semiconductors N.V. introduced MIFARE products during the 2018 FIFA World Cup in Russia to ensure contactless ticketing. They also had Adidas Telstar 18, the official football, jacked with technology to allow the ball to communicate with smartphones. Real Sociedad is also planning on turning their Anoeta stadium into a smart one with the help of start-ups.
Segmentation:
The global smart stadium market can be segmented by component, deployment type, and platform.
Based on component, the market can be segmented into software and services. Software is expected to rule the market during the forecast period as the digitalization process requires effective software implementation.
By deployment, the market can be segmented into on-premise and software-as-a-service. The latter is gaining traction and is expected to dominate the market during the review period.
Platform-wise segmentation includes application management, device management, and network management.
Regional Analysis:
The region-wise study includes Asia Pacific (APAC), North America, Europe and Rest-of-the-World (RoW).
Europe is the market leader as many clubs are adopting this method for efficient crowd handling. Substantial investments are also being made, and IT companies are also investing heavily in research and developmental purpose. North America is currently assuming the second spot as a number of sports being played there is quite astonishing which requires a blend of entertainment, live coverage, and efficient on-spot crowd management. Hence, the regional market is looking for investors and is constructing several smart stadiums. In the Middle East, countries such as Qatar is spending colossal amounts to build such stadiums as they are the host of 2022 FIFA World Cup.
More Information@
Smart Stadium Market Research Report- Forecast to 2022 | MRFR
Smart Stadium Market is estimated to grow by 26% of CAGR, Smart Stadium Market is expected to reach …
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