The report segments the smart stadium market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different regions.
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The global 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.
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The key players in the Smart Stadium Market 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).
The global smart stadium market has been segmented by software, services and region. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities across major regions.
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In addition to this, the strength of service portfolio and business strategy excellence are some of the other MarketsandMarkets analysis included in the report.
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The global 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 international sporting events, stringent security regulations by sports governing bodies and increasing adoption of IoT technologies for efficient management of stadium infrastructure.
However, high initial investment and longer wait for RoI are anticipated to limit the market growth in the coming years.
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The building automation software is expected to grow at the highest rate during the forecast period. Most stadium operators are shifting to smart Building Automation and are seeking solutions for space utilization, operational and cost efficiencies, sustainability, and building maintenance.
The adoption of smart building automation software is being driven by the increasing demand for energy-efficient, integrated, and secured stadiums. Facility management, parking management, and energy management system are the major components of building automation.
The increasing number of spectators is posing a major challenge related to parking for stadium operators. Parking management systems play an important role in managing multiple parking facilities, vehicle routing, controlling access, and managing ticketing and revenue on the real-time basis.
Advanced parking management systems help stadium operators ensure minimal time wastage, offer cashless and contactless payment options, enhance the vehicle security, and provide options for the pre-booking of parking spots. Stadiums are heavy consumer of energy for their operations, due to the use of floodlights, indoor and outdoor lighting, and heavy equipment.
To optimize the use of energy for these activities, stadiums use the energy management system. Facility management system help stadiums operators with the efficient management of facilities and associated activities.
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