New York, Sept. 09, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Smart Stadium Global Market Report 2021: COVID-19 Growth And Change” – https://www.reportlinker.com/p06144625/?utm_source=GNW
, Hawk-Eye Innovations, and Infosys.
The global smart stadium market is expected to grow from $5.71 billion in 2020 to $7.10 billion in 2021 at a compound annual growth rate (CAGR) of 24.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $18.46 billion in 2025 at a CAGR of 27%.
The smart stadium market consists of sales of integrated technologies such as IoT, artificial intelligence, 5G, virtual reality by entities (organizations, sole traders, and partnerships) that are engaged in providing on-premises and cloud-based services.A smart stadium uses wired and wireless networks to connect cameras, sensors, and digital signs.
Smart stadiums provide a lot of information to the audience and crew, and they directly respond to audience demands such as in-stadium retail pricing, restroom availability, and a variety of other issues. The ability to give a tailored experience to the audience has been made possible by smart stadiums.
The main types of components in smart stadiums are software and services.Stadium software is designed to integrate connected systems and the data collected by such systems with various other smart solutions.
The smart stadium software includes building automation, crowd management, stadium and public security, and digital content management. The different modes of deployment include on-premise, cloud, hybrid and are used in stadium and public security, building automation, event management, crowd management, others.
Europe was the largest region in the smart stadium market in 2020.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The integration of advanced technologies is shaping the smart stadiums market.Major players in the smart stadium sector are focusing on the integration of advanced technologies to provide an immersive experience to fans watching from around the world.
For instance, in September 2019, AT&T, a US-based telecommunications company launched 5G for fans using an augmented reality app that allowed them to superimpose themselves on live-action. Fans wore virtual reality headsets to observe the arena from the perspective of on-stage performers during the Fuji Rock Festival 2019 in Japan.
In September 2020, Schneider Electric, a France-based electrical or electronic manufacturing company acquired the electrical and automation business of Larsen & Toubro (L&T) for an undisclosed amount.Through this acquisition, Schneider Electric will use related brand insignia for a specified period as the brand is very popular and has a strong demand.
Larsen & Toubro is an India-based company that designed and built the world’s largest cricket stadium at Motera using the latest precast technologies.
The growing sports league culture is projected to propel the growth of the smart stadiums market in the coming years.A sports league is a group of clubs that play against one another with a set of rules and procedures.
Smart stadiums provide fans and employees with a wealth of information about the game, parking options, seat upgrades, and the overall experience at their sports facility. According to the Sportscasting report, with a revenue of $2.5 billion in 2020, the Australian Football League sells out approximately 40,000-seat stadiums and continues to expand into one of the most profitable sports leagues in the world. Therefore, the growing sports league culture drives the growth of the smart stadiums market.
The countries covered in the smart stadium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06144625/?utm_source=GNW
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