Increasing adoption of IoT technologies for efficient management of stadium infrastructure to drive Europe smart stadium market through 2024
According to TechSci Research report, “Europe Smart Stadium Market By Software, By Service, By Country, Competition, Forecast & Opportunities, 2024”, Europe smart stadium market is expected to exhibit a CAGR of over 20% during 2019-2024, on account of increasing demand for entertainment and sports, boosting number of viewers in the stadium. Smart stadium offers enhanced experience to the spectators with benefits such as seat upgrades, directions so as to navigate faster through crowded stadium and special offers. Use of Internet of Things (IoT) would help stadium owners to digitally transform stadiums while improving fan experience.
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Smart stadium market in Europe can be segmented based
on software, service and country. In terms of software, the market can be
segmented into stadium & public security, building automation, event
management, digital content management and others. Digital content management is
anticipated to grow at the highest growth rate as the component would help the
stadium owners and the management in proper and efficient management of digital
equipment, bringing efficiency in customer satisfaction and crowd management
automation segment is also likely to grow at a significant rate, as several stadium
operators are adopting building automation, so as to improve space utilization,
enhance operational and cost efficiency. On
the basis of service, the market can be segmented into support &
maintenance, deployment & integration and consulting. Of these categories,
support & maintenance segment is expected to register fastest growth rate
in coming years, as it helps to ensure 24/7 troubleshooting assistance,
emergency response management and software upgrades.
Major players operating in Europe smart stadium market are Huawei Technology Co. Ltd, NXP Semiconductors N.V., Johnson Controls International plc , NTT Communications Corporation, Honeywell International Inc, Hawk-Eye Innovations Ltd., Intechnology Plc., GP Smart Stadium, Schneider Electric SE, among others. Companies operating in the market are adopting organic and inorganic strategies such as product launch, investments & expansions and agreements & contracts to ensure growth in the market.
“Number of professional sports leagues is the highest in Europe. Moreover, region is the home to 1,235 stadiums, which is the highest, globally, thus Europe smart stadium market would register significant growth during the forecast period. Additionally, the region has strict public safety regulations forcing regulatory bodies to improve the safety and security of the stadium, which in turn is likely to positive influence Europe Smart Stadium Market over course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Smart Stadium Market By Software, By Service,
By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Europe smart
stadium market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Europe smart stadium market.