The global smart stadium market is forecast to reach USD 23.69 Billion by 2028, according to a new report by Reports and Data. With advancements in home entertainment systems, and updates being available on mobile devices, stadium operators are experiencing a challenge in providing audiences with a captivating experience and maintain their profit. The solution to this issue is a smart stadium. There are various benefits associated with this type of stadiums that are supporting the growth of the market. One of the mentionable benefits is these stadiums provide audiences with valuable information such as seat up-gradation, parking availability, the bathroom's length and concession lines, and special offers. These benefits help fans receiving personalized experience, convenience and enjoy shorter lines. They can also receive detailed directions to navigate crowded stadiums. The presence of these benefits acts as a contributing factor in attracting a larger crowd. This type of stadiums is also effective in catering to the changing demands of audiences. An elevated demand for digital connectedness and convenience can be observed among fans, which can be effectively catered by smart stadiums. These stadiums provide fans with benefits like fast internet connections, hassle-free entry, and exit to the stadium. The presence of these benefits would result in increased footfall in these stadiums and the associated growth of the market.

In regards to region, North America occupies a dominant market position. The market position held by the region is attributed to the continuous development of the IoT devices & systems, the region being an early adopter of new technologies and occurrence of major sports events like US Open Tennis, Super Bowl, and NBA All-Star Game among others, which holds significant opportunities for further expansion of the market in this region.

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The technology industry is currently witnessing a surge in investments from various companies, all vying to launch cutting-edge and technologically advanced products. One noteworthy example is the Norwegian start-up, Zwipe, which has managed to secure an impressive sum of approximately USD 25.2 million in funding, with a substantial chunk of around USD 14 million coming from a Series B funding round in 2020. Zwipe's primary focus lies in developing biometric authentication technology capable of supporting a range of applications, including contactless payments, access control, and identity verification.

This investment surge reflects the growing demand for innovative solutions in the market, driven by the increasing need for secure and convenient methods of authentication and identity verification. Biometrics, with its promise of heightened security and user convenience, has been at the forefront of this technological wave.

However, amidst all the optimism and enthusiasm surrounding these advancements, there are still significant challenges to overcome. One such obstacle is the vulnerability of open Wi-Fi networks to cyber-attacks. As more devices and applications rely on internet connectivity, the security of data transmitted over open networks becomes a pressing concern. The potential for data breaches and cyber-attacks remains a substantial hindrance to the growth of the market, as it undermines the trust and confidence of users and businesses alike.

Another significant hurdle is the high cost associated with deploying these innovative solutions in the initial stages. Developing and implementing biometric authentication technology, such as the one offered by Zwipe, requires substantial investment in research, development, and infrastructure. Companies need to invest in building the necessary ecosystem and educating users about the benefits and security measures associated with these technologies. This initial cost can be a barrier for many organizations, especially smaller ones, looking to adopt these advanced authentication methods.

Component Type Outlook (Revenue, USD Billion; 2020-2028)

• Services
• Software

Deployment Type Outlook (Revenue, USD Billion; 2020-2028)

• On-premises
• Cloud
• Hybrid

Application Type Outlook (Revenue, USD Billion; 2020-2028)

• Stadium and Public Security
• Digital Content Management
• Event management
• Building Automation Management
• Network management
• Crowd management
• Others

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Further key findings from the report suggest

• The smart stadium market held a market share of USD 6,381.4 Million in the year 2020 and forecasted to grow at a rate of 19.3% during the forecast period.
• In regards to Component, the Software segment generated a higher revenue of USD 2.67 Billion in 2020, with a growth rate of 18.8% during the forecast period. The elevated emphasis on video & audio management, video surveillance, and cybersecurity, among others, on the part of stadium operators, contributes to the market share occupied by this segment. Furthermore, rising demand for connectedness among fans and associated increasing relevance of software like network-controlling software in the operation of these stadiums also contributes to the market dominance of the software segment. It helps in detecting the access point with which the audience's mobile is connected and using Wi-Fi protocol instruct the phone which network to connect, thus resolving the issue of connectivity.
• In context to Deployment, the On-premises segment yielded the highest revenue of USD 2.59 Billion in 2020, with a CAGR of 18.8% during the forecast period. The revenue generated by the On-premises segment is resultant of high dependency of the functioning of these stadiums on a large number of sensors, cameras, and digital signs and installation of these hardware on-premise of the stadium.    
• In regards to the Application, the Stadium and Public Security segment can be seen to occupy the largest market share of 30.0% in 2020, with a growth rate of 19.3% during the forecast period. Factors like the presence of a various public safety regulations that are to be abided by stadium operators, increasing instances of terrorist attacks and areas with large number of audience being a soft target for terrorism contributes to the market share occupied by the Stadium and Public Security segment.
• In context to region, Asia Pacific is projected to witness the fastest growth rate of 20.8% during the forecast period, which is expected to occupy the second-largest market share of 26.5% by 2028. The fact that, this region is going to be the host of significant events like rugby world cup, Olympics & T20 world cup and use of smart technologies by sports organizations of the region like Board of Control for Cricket in India (BCCI) to host major tournaments, are supporting the market growth in this region.

Major Regions Highlighted in the Global Smart Stadium Market Report:

·       North America

o   U.S.

o   Canada

o   Mexico

·       Europe

o   Germany

o   U.K.

o   Italy

o   France

o   BENELUX

o   Rest of Europe

·       Asia Pacific

o   China

o   India

o   Japan

o   South Korea

o   Rest of Asia Pacific

·       Latin America

o   Brazil

o   Rest of Latin America

·       Middle East & Africa

o   Saudi Arabia

o   U.A.E.

o   South Africa

o   Rest of Middle East & Africa

Top Companies Profiled in the Report:

Intel Corporation, Hewlett Packard Enterprise, Cisco Systems, Huawei Technologies, NEC, Infosys, IBM Corporation, Johnson Controls International PLC, Honeywell International Inc., and Schneider Electric SE.

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