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Smart Stadium Market Trends: Optimize for Resilience and Performance

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Sheetal Bhusari
Smart Stadium Market Trends: Optimize for Resilience and Performance

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 new research report by MarketsandMarkets™

The growth of the smart stadium market is primarily driven by rapid advancements in IoT, data analytics, cloud computing, and mobile applications. Also, the need to optimize venue operations, crowd management, and security, leading to better resource utilization and cost savings for stadium management will drive the market.

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Based on offering, the services segment to grow at a higher CAGR during the forecast period

The services segment of the smart stadium market comprises consulting services, deployment and integration, and support and maintenance services. 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.

Based on solutions, the network management segment is expected to grow at the highest CAGR during the forecast period

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.

Based on services, the support and maintenance segment is expected to grow at a higher CAGR during the forecast period

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.

Based on the digital content management solution type area, the mobile and web content management segment is expected to grow at a higher CAGR during the forecast period

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.

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Europe to hold the highest market size during the forecast period

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

Top Companies

Major vendors operating in the smart stadium market include IBM (US), Ericsson (Sweden), Intel (US), NTT (US), Tech Mahindra (India), Johnson Controls (US), Siemens (Germany), Honeywell (US), Cisco (US), NEC (Japan), Huawei (China), Schneider Electric (France), NXP Semiconductors (Netherlands), Atos (France), Verizon (US), AT&T (US), Vodafone (UK), T-Mobile (US), Telefonica (Spain), VIX Technology (Australia), Hawk Eye (UK), UCOPIA (France), AllGoVision (India), AiFi (US),Pixellot (Israel), Locbee (Hungary), Dignia (Israel), GP Smart Stadium (Netherlands).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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