The global smart stadium market size is expected to grow from $7.10 billion in 2021 to $9.27 billion in 2022 at a compound annual growth rate (CAGR) of 30.5%. The change in the smart stadium market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $22.49 billion in 2026 at a CAGR of 24.8%.
What is the Global Smart Stadium Market?
The smart stadium market consists of sales of integrated technologies such as IoT, artificial intelligence, 5G, virtual reality by entities (organizations, sole traders, and partnerships) that are engaged in providing on-premises and cloud-based services. A smart stadium uses wired and wireless networks to connect cameras, sensors, and digital signs. Smart stadiums provide a lot of information to the audience and crew, and they directly respond to audience demands such as in-stadium retail pricing, restroom availability, and a variety of other issues. The ability to give a tailored experience to the audience has been made possible by smart stadiums.
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What drives the Global Smart Stadium Market?
The growing sports league culture is projected to propel the growth of the smart stadium market in the coming years. A sports league is a group of clubs that play against one another with a set of rules and procedures. Smart stadiums provide fans and employees with a wealth of information about the game, parking options, seat upgrades, and the overall experience at their sports facility. According to the Sportscasting report, with a revenue of $2.5 billion in 2020, the Australian Football League sells out approximately 40,000-seat stadiums and continues to expand into one of the most profitable sports leagues in the world. Therefore, the growing sports league culture drives the growth of the smart stadium market.
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Global Smart Stadium Market Segments
The global smart stadium market is segmented:
By Component: Software, Services
By Deployment: On-Premise, Cloud, Hybrid
By Application: Stadium and Public Security, Building Automation, Event Management, Crowd Management, Others
By Geography: The regions covered in the smart stadium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Smart Stadium Global Market Report 2022provides market size and growth forecasts for the global smart stadium market, global smart stadium market share, smart stadium market segments and geographies, smart stadium market competitive landscape including leading competitors’ revenues, profiles and market shares. The smart stadium market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Smart Stadium Industry Playersinclude IBM, Cisco Systems, Tech Mahindra, NEC, Intel Corporation, Huawei Technologies, Johnson Controls, Fujitsu, GP smart stadium, Schneider Electric, Honeywell International Inc., Hawk-Eye Innovations and Infosys. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
