Pune, June 17, 2019 (GLOBE NEWSWIRE) -- The increasing number of sports events and concerts in stadiums is aiding expansion of the global Stadium Security Market. Fortune Business Insights in a report, titled “Stadium Security Market: Global Market Analysis, Insights and Forecast, 2018-2025” published the above information. The report offers exclusive insights into the market. The rising importance on public safety and security in stadiums is gaining importance across the world. This is compelling stadium owners to install well-equipped solid security system such as metal detectors, intrusion alarm systems, access control systems, CCTV cameras, and fire alarm systems. Over the past few years some unfortunate incidents have taken place in stadiums. Taking this into consideration, the stadium management decided to install facial recognition systems and restrict entry of troublemakers.
According to the report, the global market was valued at US$ 6,236.9 Mn in the year 2017 and is expected to reach US$ 16,057.6 Mn by 2025. In addition to this, the global market is anticipated to exhibit a remarkable CAGR of 12.8% during the forecast period.
Request Sample Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/stadium-security-market-100310
Stadium Seating Capacity Ranging from 30000-50000 Exhibits 13.4% CAGR
As per seating capacity, stadiums with capacity between 30000 and 50000 are anticipated to grow at a rapid pace. Furthermore, this range is expected to rise at a CAGR of 13.4% driven by rising number of events and concerts. On the other hand, stadiums with a capacity of less than 30000 seats are projected to account for the highest share in the global market. However, this segment is anticipated to exhibit a CAGR of 12.5% during the forecast period.
North America with Rising Number of Terrorist Attacks to Emerge Dominant
North America is expected to lead the global Stadium Security Market in the forecast years. Predominantly, Canada and the U.S are on constant risk of terrorist attacks, which compels the stadium owners to adopt stadium security solutions. The market in this region was valued at US$ 2486.3 Mn as per revenue in 2017. Rapid technological advancements in stadium security systems and growing demand for maintaining stadium infrastructure are driving the market in North America.
The market in Asia Pacific is expected to gain an impressive share in the forecast years. The region is witnessing several national and international sports events, which is creating attractive growth opportunities for the market. In addition to this, stadium management is adopting stadium security technologies in order to engage their spectators at stadiums. With the emergence of advanced technology, construction of smart stadiums is being carriedout in this region. This is further expected to fuel demand for public address system for the effective crowd management.
Integration of IoT in Stadium Security Systems to Support Growth
A lead analyst at Fortune Business Insights said, “Technological advancements such as adoption of internet of things (IoT) in stadium security systems is expected to enhance the spectator experience.” He added, “Upgradation of stadium security plan can offer a convenient and personalized experience to spectators and simultaneously ensures complete security.” Moreover, IoT adoption helps in the effective management of stadium infrastructure, contributing towards the growth of the market.
Competitive Rivalry Among Players Spikes Installation of Advanced Stadium Security Tools
Increasing terrorist threats and pressing need for ensuring public safety are compelling companies to develop innovative and smart stadium security measures. To gain an edge over strong competition, several leading players are installing stadium security systems at some major stadiums to maintain their position in the global market. For instance, Vodafone is projected to design a smart stadium security system for FIFA World Cup 2022 in Qatar. The market position of companies is determined based on the number of tenders they receive from sports government agencies.
The top ten players covered two-third of the share in the global market in 2017.
Key Companies Covered in The Report
Browse Complete Report Details Enabled with Complete Tables and Figures:
Major Table of Content:
Request for Customization:
Browse Related Reports:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune - 411045, Maharashtra, India.