Smart Stadium market is poised to gain momentum due to the increasing number of events that are being held across the globe, various security regulations and protocols that are being put in place by various event organizers and administrators and the growing adoption of IoT technologies for an efficacious stadium administration.
According to the report, the Smart Stadium Market is projected to increase at a CAGR of 18.69% over the forecast period 2019-2025. The digital transformation trends brought about various government surround the world is poised to extend a lot of benefits to stadium administrators and their most coveted spectators. From the availability of parking space to the integration of multiple technologies Viz. crowd management, food ordering, incident and emergency response management, integrated security system, merchandise purchasing, seat up-gradation, smart lighting, social media updates, ticket management as well as washroom queue via a Wi-Fi network, the digital transformation would bring about a sea-change in customer experience. The aforesaid is the snapshot of all the advantages associated with the software segment of the smart stadium market, where lies the both driving factors that will boost the growth of the smart stadium market as well as further prospects of revenue-generating opportunities for the stadium administrators. Moreover, Europe has the largest number of stadiums which is followed by Asia. However, the strict public safety policies of Europe and the increased public spending by sports franchises for leaving an indeliblespectator experiences are projected further drive the smart stadium market in Europe.
To this end, there have been a few key developments, which have been set in motion by certain major market players in this market. They are as follows:
In December 2019, it was announced that the Gaelic Athletic Association (GAA) have reached a deal with Chinese tech giant Huawei Technologies Co., Ltd., to bring about Ireland’s first ‘smart stadium’ by transforming Dublin’s Croke Park. The artificial intelligence augmented reality, complete with real-time data use, an overhaul of the venue’s technology infrastructure, virtual reality feature are a few of the developments which will be bright about through this deal.
In February 2019, 5G trials were conducted in Rakuten Seimei Park Miyagi in Japan to incorporate 5G technology in smart stadiums by Rakuten Mobile Network, in collaboration with Nokia and Intel Corporation.
In March 2018, Schneider Electric was appointed by the UK based football team Tottenham Hotspur as its official stadium energy management system integrator. The company is further expected to embed its EcoStruxure™ platform into the architecture of the stadium to enable real-time monitoring, enhancing maintenance and visitor experience.
The major players covered as part of the report are 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.
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In this report the Smart Stadium Market has been segmented based on the following: