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Smart Stadium Market Trends

  • Report ID: GMI10340
  • Published Date: Jul 2024
  • Report Format: PDF

Smart Stadium Market Trends

Collaboration between technology companies (such as Cisco, IBM, and Intel) and sports entities (like leagues, teams, and stadium operators) is becoming increasingly prevalent in the smart stadium industry. These partnerships combine technological expertise with industry-specific knowledge to develop and implement innovative solutions tailored to the needs of sports venues. For example, in October 2023, Cisco has been named an official technology partner of the New England Patriots and Gillette Stadium. The two organizations have a long-standing relationship, and the recent renovation of Gillette Stadium provided an opportunity to further integrate Cisco's networking solutions.
 

Sport governing bodies like FIFA, UEFA, NFL and the IOC enforce strict security regulations to ensure the safety of athletes, staff, and spectators during major sporting events. To comply, stadium operators are adopting advanced security solutions like video surveillance, access control, facial recognition, and threat detection systems.
 

For example, in March 2023, Evolv Technology has been named the Official Fan Screening Provider of Acrisure Stadium, home of the NFL's Pittsburgh Steelers. Evolv's state-of-the-art Evolv Express® screening solution is located at Acrisure Stadium's busiest gates, screening many fans as they enter the venue These technologies help monitor crowds, detect suspicious activities, and respond swiftly to security threats. Smart stadium solutions often integrate security measures with IoT and AI capabilities for real-time monitoring and threat assessment, enhancing security and operational efficiency.
 

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of smart stadium reached USD 15.47 billion in 2023 and is set to register a CAGR of over 19.5% over 2024-2032, backed by the investments by the governments, sports organizations, and private investors in upgrading existing stadiums and constructing new ones with integrated smart technologies.

The on-premises segment accounted for the largest market share with over 55% in 2023, due to its ability to provide stadiums with greater control over their IT infrastructure and data management systems, as well as addressing security and compliance concerns.

North America market accounted for a revenue share of over 33% in 2023, owing to the strong sports culture, significant investments by major league teams and stadium operators, and the high disposable income of fans.

Cisco Systems, Inc., IBM Corporation, Intel Corporation, Huawei Technologies Co., Ltd., NEC Corporation, Johnson Controls International plc, and Honeywell International Inc. among others.

Smart Stadium Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 25
  • Tables & Figures: 325
  • Countries covered: 21
  • Pages: 220
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