The smart stadium market size is estimated to be USD 4.60 Billion in 2018 and is expected to reach USD 12.50 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period. The major factors driving the growth of the smart stadium market include the upcoming national and internatonal sports events, stringent secuirty regulations by sports governing bodies, and increasing adoption of IoT technologies for efficient management of stadium infrastructure.
Network management software is estimated to hold the largest market share
The network management software is expected to have the largest market share in the smart stadium market. Network infrastructure is the backbone of any smart stadium, it plays an important role in managing stadium operations and enhancing the fan experience in stadium. Hence, stadium owners are primarily investing in deploying hi density Wi-Fi and network management software. It ensures users receive IT services anywhere, anytime. With the help of network management platforms, network administrators can easily detect any failure in the network and resolve issues in the real time by informing the support personnel. They also help analyze the volume of data being transferred over the network and automatically route the data to avoid congestions that can result in network crashes.
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Support and maintenance service is expected to grow at a higher rate during the forecast period
The support and maintenance service segment is expected to grow at a higher rate during the forecast period. There are several connected devices that help in the operations of smart stadiums. A failure of any one of these devices can cause inefficiency, resulting in financial loss. Support and maintenance service ensures regular maintenance, 24/7 troubleshooting assistance, software upgrades, problem-solving, repair and replacement of failed components, emergency response management, and other vital services that help in uninterrupted operations of smart stadium.
The key players in the smart stadium market profiled in this report include IBM (US), Tech Mahindra (India), NEC (Japan), Cisco (US), Huawei (China), Intel (US), Fujitsu (Japan), Johnson Controls (Ireland), NTT (Japan), Ericsson (Sweden), GP Smart Stadium (Netherlands), Centurlink (US), NXP Semiconductors (Netherlands), Vix Technology (Australia), Intechnology (UK), Hawk-Eye Innovations (UK), Locbee (Hungary), Insprid (UK), Byrom (UK), Volteo (US), Dignia (Israel), Atos (France), Honeywell (US), UCOPIA (France), Schneider Electric (France), and AllGoVision (India). These players offer smart stadium solutions to cater to the needs and demands in the marketspace. They have adopted various growth strategies, such as mergers and acquisitions; partnerships, agreements, and collaborations; business expansions; and new product launches. Among the growth strategies, “agreements and partnerships” has been the major growth strategy followed by these players for business expansions.
NEC has adopted a mix of organic and inorganic growth strategies, such as new product launches, and partnerships and collaborations, in the smart stadium market. In 2017, NEC launched a new product, NeoFace Express Biometric Solution, to deliver frictionless and seamless enrolment, and verification and identification at various stadiums to provide enhanced security to the fans. NEC signed an agreement with the South Wales Police to provide a facial recognition software platform, so that the police can secure the stadiums from unwanted activities. In addition to this, in 2016, NEC partnered with the Columbian Government to provide advanced public safety at the Atanasio Girardot Stadium. This partnership leverages NEC’s smart stadium solutions and expands its presence across regions. The growing need for security and safety in stadiums and the essential ease in stadium operations and better fan experiences create opportunities for NEC to work on many smart stadium projects.
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Cisco has also adopted a mix of organic and inorganic growth strategies. For instance, in 2018, Cisco signed an agreement with NBC. NBC is responsible for producing, programming, and promoting NBC Universals Olympic coverage to provide Cisco’s IP video contribution and distribution solutions, along with networking and security solutions, which are a part of Cisco Connected Stadium, for hosting the XXIII Olympic Winter Games. To bring new functionalities in its existing Stadium Vision solution, in 2016, it released the new version of Cisco StadiumVision that supports 4K videos and improved the virtual ribbon board synchronization of StadiumVision 4.1, which ensures high-definition display to enhance the sports viewing experience in stadiums.
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