The smart stadiums market is projected to grow at a CAGR of 18.69% during the forecast period 2018-2024. Growing sports viewership is leading to an increased number of stadiums in both developed and developing countries. The burgeoning number of international sports tournaments in developing countries like India, China, Japan, and Qatar is boosting the demand for smart stadiums in these countries. The concept of Smart Stadium is gaining traction at a fast rate across the globe owing to growing demand from fans to watch sports in an interactive and hassle-free manner. Advanced technologies such as the Internet of Things (IoT) and 5G and etc. are increasingly being incorporated in making stadiums smart so as to improve fan. Therefore, key players are heavily investing in smart stadiums in order to increase their profitability, enhance the fan experience and improve stadium security. Thus, the market is expected to grow at a good CAGR on account of rising investments in smart stadiums and strong inclination of sports team towards upgrading their stadiums to include the latest technologies.
Growing number of sports tournaments in developing regions.
Rising investments in implementing interactive fan engagement.
High initial investment and cost.
In February 2019, Rakuten Mobile Network, in collaboration with Nokia and Intel Corporation, conducted 5G trials in Rakuten Seimei Park Miyagi in Japan so as to incorporate 5G in smart stadiums
In March 2018, Tottenham Hotspur, the UK football team, appointed Schneider Electric as its official stadium management supplier.
The major players profiled in the smart stadium market include IBM Corporation, Tech Mahindra, NEC Corporation, CISCO, Huawei Technologies Co., Ltd., Intel Corporation, Johnson Controls, ERICSSON, Nippon Telegraph and Telephone Corporation, Schneider Electric, NXP Semiconductors, Hewlett Packard Enterprise Development LP and GP smart stadium among others.
The smart stadium market has been analyzed through the following segments:
Digital Content Management
Stadium and Public Security
Middle East and Africa