From last couple of decades, stadiums have seen increasing demand from sports and entertainment sector. The increasing demand, in turn, increases the number of viewers in the stadium.
Crowd management is the major factor of concern for the stadium managers. The introduction of a smart stadium, curtail many of these problems.
Generally, a smart stadium comprises of a large number of sensors, cameras, and digital signs, which are being connected to wired and wireless networks and servers.These sensors provide real-time information about empty parking spots, waiting lines, a number of vacant seats and other useful information.
Additionally, with the help of advanced technology, the smart stadium now can predict the uncertain whether condition and provide early planning of entry and exit point in case of any chaos.Moreover, viewers now can order their meals by seating on their seats, with the help of their smartphones by connecting it to stadium server.
The number of advantages coupled with safety and security provided by smart stadium has led increasing demand for smart stadium and is expected to show significant growth over the forecast period.
Advanced technologies and increasingly digital world is forcing the sports industry and sport stadiums to adapt Internet of Things (IoT) and this adoption can bridge gap between digital space and the physical world.
Teams are focusing on few main areas to utilize IoT in today’s world to address specific needs or challenges. Integration of IoT in smart stadiums increases the revenue streams, enhance fan experience, provide real-time personalization and increase venue efficiency.
The pandemic situation of COVID-19 has put the sports world on hold. As due to the spread of novel coronavirus most of the leagues and championships have been suspended.
For instance the National Hockey League (NHL) and National Basketball Association (NBA) in the United States have both suspended their seasons indefinitely. In Europe region many soccer matches and leagues are being played without spectators.
Thus the event organizers are facing a decline in the revenues due to cancelled or postponed events. In addition in March 2020, pandemic shut down traditional sports leagues everywhere, the same month game streaming site Twitch reported a 31% increase.
Thus cancellation of thousands of live events Esports keeps scoring wins. Hence the growth of smart stadium market is anticipated to decline during this pandemic situation.
However, some governments have signed agreement about hosting the events, thus the events will take place, although some changes might have to be made. So the market is anticipated to be back on track by the end of Q4 of 2020, or early 2021.
Increased Implementation of green initiatives is a Major Factor Driving the Growth of the Smart Stadium Market
The growing popularity of sports and events around the world is expected to push the demand for stadiums, which in turn is anticipated to fuel the demand for the smart stadium over the forecast period.
Moreover, benefits such as operational efficiency, fan experience, and stadium security are expected to drive the demand for the smart stadium over the forecast period. Furthermore, increasing trend of digital transformation, focus on attracting home viewers and growing demand for better customer management are some of the factors anticipated to escalate the market for smart stadium over the forecast period.
However, high investment cost along with traditional infrastructure of stadiums restrict the stadium owners from adopting the advanced technology and are expected to act as a restraining factor and is anticipated to hamper the demand for Smart Stadium over the forecast period.
Examples of some of the market participants in the global Smart Stadium market identified across the value chain include Huawei Technology Co. Ltd, Intel Corporation, NEC Corporation, Cisco System Inc., IBM Corporation, Fujitsu, Johnson Controls, Tech Mahindra Ltd., Volteo, among others.
Following are some key strategies and developments in the global Smart Stadium market:
In terms of demand, it is anticipated that Europe will dominate global Smart Stadium market. While Middle East and Africa is expected to show significant growth over the forecast period.
Europe and MEA have several smart stadium vendors and are leveraging on advanced technology to provide better and connected stadium for their viewers. For instance, Vodafone will provide smart stadium service in collaboration with Intel for 2022 FIFA world cup in Qatar.
The Smart Stadium market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The Smart Stadium market can be segmented on the basis of solution, deployment, and region.
by solution:
by deployment:
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