Key Market Players in the Smart Stadium Market and Its Opportunities for growth

Posted on 2019-10-31 by MarketsandMarkets in Technology // 0 Comments

The Smart Stadium Market size was USD 4.60 Billion in 2018 and is projected to reach USD 12.50 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period as per a report by MarketsandMarkets.

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.

Why location-based services and eCommerce potential are creating an opportunity for market growth?

Smart stadiums are focusing on capitalizing eCommerce’s rapidly growing market potential. This, in turn, has provided a huge opportunity for e-commerce vendors to generate revenue. Vendors offering a single-integrated solution capable of providing smart order summaries, smart picking route, and smart inventory replenishment would be the most preferred by smart stadiums. eCommerce vendors can push notifications to fans based on their past ordering patterns, likings, and current live event-related products to increase cash flow. By partnering with an eCommerce vendor, smart stadium operators can achieve efficiency improvement, increased maximum capacity, and faster order delivery. Another advantage is that it would match demand and supply during demand surge to ensure that orders are not out of stock. The eCommerce vendors need to ensure that the payment platform is secure in an open Wi-Fi network.

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Key Market Players for Smart Stadium Market

The key players in the smart stadium market profiled in this report 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). These players offer smart stadium solutions to cater to the needs and demands in the marketspace. They have adopted various growth strategies, such as mergers and acquisitions; partnerships, agreements, and collaborations; business expansions; and new product launches. Among the growth strategies, “agreements and partnerships” has been the major growth strategy followed by these players for business expansions.

NEC has adopted a mix of organic and inorganic growth strategies, such as new product launches, and partnerships and collaborations, in the smart stadium market.

Cisco has also adopted a mix of organic and inorganic growth strategies. Cisco signed an agreement with NBC. NBC is responsible for producing, programming, and promoting NBC Universal’s Olympic coverage to provide Cisco’s IP video contribution and distribution solutions, along with networking and security solutions, which are a part of Cisco Connected Stadium, for hosting the XXIII Olympic Winter Games.

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