The increasing frequency of the sports events taking place across the world is the primary driver for the stadium security market. Such large scale events are attractive to the terrorists and extremists group of people. In order to ensure the safety of the citizens and give them an enhanced spectator experience, the safety and security of the stadiums is of pivotal importance.
Recently, Market Research Reports Search Engine (MRRSE) has publicized a study titled “Stadium Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025” to its online repository, which provides a complete perspective on Global Stadium Security Market growth in terms of revenue estimates (in US$ Mn) globally. Geographically, major regions covered in the study include Europe, Middle East and Africa (MEA), North America, APAC, and South America.
This 259-pages report is a valuable source of information that covers drivers, restraints, opportunities and trends that are shaping the global stadium security market.
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Major Findings from the study
As the name suggests, Stadium is such kind of place, where huge events are organized, thus, the security of the stadium is a vital element.
There is a high risk of terrorist attacks at the huge crowded venue, which poses a serious threat to human life. In order to ascertain safety of visitors and help them enjoy improved spectator experience, the installation of security systems has expressively increased.
Presently almost every big stadium around the world is equipped with state-of-art security systems, which consists of however is not limited to CCTV cameras, access control systems, fire alarms, metal detectors, intrusion alarms, and other advanced systems. Analyst while studying the market scenario has found that rising frequency of the sports events taking place across the world is the primary driver for the stadium security market.
According to the study key conclusions, the overall value of the global stadium security market in 2016 was at US$6.94 bn. By the end of 2025, the global market is expected to reach US$20.20 bn by the end of 2025, with an impressive CAGR of 12.74%.
In terms of geography, North America is anticipated to grow at a noteworthy CAGR of 13.65% over the forecast period as the major economies including the U.S. and Canada are chiefly on the target list of the terrorist.
Another driver that is contributing to the growth of the market is the technical advancements relating to the stadium security. On the downside, a few regions may have homegrown stadium infrastructure, which are unable to cope with the novel smart technologies.
This can hinder market growth, finds study.
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The competitive scenario among different market players is assessed through market share analysis, key strategies and their standing in the global market. Key players operating in the insulin pumps market which are Honeywell International Inc., AxxonSoft, Avigilon Corporation, Rapiscan Systems, BOSCH, CISCO Systems Inc., Security Systems, Genetec Inc., Dallmeier, NEC Corporation, and Intel Corporation.
Moreover, the global stadium security market is segmented in terms of components into hardware, software, and services. The hardware segment is further categorized into access control systems, videos surveillance systems, and others.
Of these, Video surveillance segment is expected to hold the highest revenue share for the global stadium security market in 2025.
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