The technological advancements in media and entertainment along with its integration with smart phones and tablets has led to a declining demand for experiencing sports sitting in a live stadium. This is leading to the need for developing smart stadiums to give a more captivating experience to the fans along with higher returns from the events. The global market for smart stadiums is expected to witness robust growth during the forecast period.
The smart stadiums provide a host of information ranging from parking availability, seat upgrades, ongoing offers and concession lines among others to the fans and viewers. There are several factors aiding to the demand for smart stadiums during the forecast period. In a smart stadium, a fan gets a personalized experience along with shorter waiting lines. Furthermore, the fans can also navigate faster through the crowd with the help of GPS navigation available in the stadium.
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Moreover, the concept of internet of things (IoT) is also being applied to these stadiums where in the fans and the viewers can connect their smart phones with the stadium network to receive important information. In addition, the governments of various countries are taking initiatives towards automation of industries and smart building projects in order increase the efficiency of operations and participate in the green revolution.
This factor is expected to drive the demand for smart stadiums across the globe. Moreover, the smart stadiums are equipped with display units which show the game along with giving score updates to the views. This helps the fans to stay updated with the game even when they are not in their seats. Furthermore, the ongoing modernization of telecom and networking infrastructure is expected to drive the demand for smart stadiums in regions such as Europe and North America.
However, certain factors are expected to restrain the growth of the market during the forecast period. The idea of building a smart stadium involves huge investment which is one of the primary factors hindering the growth. Moreover, a smart stadium can face issues with unsecured Wi-Fi networks and major technical complexities which can hamper the experience of the fans.
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Another major factor pulling the growth is luring the fans from their homes to come and watch a live game play in a stadium. Currently, the advancement of internet and smart phones has led to viewers getting a rich experience of the game play sitting at their homes. These are the primary factors hindering the demand for smart stadiums during the forecast period.
The global market for smart stadiums can be segmented by services, platform, software and geography. By services, the market can be further categorized into professional and managed services broadly. In terms of platform, the market can be divided into network management platform, device management platform and application management platform. By software, the market can segregated into event management systems, integrated security systems, digital content management, building automation systems, crowd management systems and control centers among others.
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