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The rising importance regarding the security of stadiums is driving the Global Stadium Security Market. Fortune Business Insights in a new study, titled “Stadium Security: Global Market Analysis, Insights, and Forecast, 2018-2025” highlights the rising number of events such as concerts, public gatherings, and sports events hosted around the world is stoking the demand for stadium security measures. According to the report, the global market covered the value of US$ 6,236.9 Mn in 2017 and is anticipated to reach a whopping value of US$ 16,057.6 Mn by 2025. Furthermore, the global market is expected to rise at a noteworthy CAGR of 12.8% throughout the forecast period.
Stadium security solutions help in effective crowd management by ensuring the safety of spectators. This safety is maintained through a solid security system consisting of CCTV cameras, access control systems, fire alarm systems, and metal detectors. Now, stadium management has installed a facial recognition system to rule out the entry of troublemakers.
Larger Companies Hold Top Slot in the Market
In 2017, the top ten players covered around two-thirds of the global stadium security market in terms of revenue. Presently, the global market is dominated by large and prominent players. In addition to this, the market is expected to witness the entry of new players in the upcoming years.
Some of the leading players operating in the global market are Avigilon Corporation, Honeywell International Inc., BOSCH Security Systems, Genetec Inc., Rapiscan Systems, Dallmeier, Intel Corporation, Cisco Systems Inc., and AxxonSoft.
Companies are planning to adopt intellect-based security systems which will help in the efficient investigation of incidents. With the help of video analytics, these systems will give prior information on any unfortunate incidents and prevent them even before they happen.
Rising Adoption of IoT Technologies Stokes Demand for Stadium Security Solutions
The advent of digitization is likely to benefit stadium owners as well as spectators in terms of security. Installation of metal detectors in stadiums is helping the stadium management to avoid the potential threats of any kind. This will further ensure improved public safety and will eventually benefit stadium owners. The rising adoption of the internet of things (IoT) technologies is expected to drive the market during the forecast period. These technologies are adopted to effectively manage stadium infrastructure starting from parking space. The report predicts the above-mentioned factors to positively impact the stadium security market by 2025.
U.S. and Canada Witnesses Higher Adoption of Stadium Security Systems, Catapulting North America to the Fore
Among regions, North America leads the global stadium security market backed by high demand emanating from Canada and the U.S. In 2017, the market in North America has valued at US$ 2,486.3 Mn. It is expected to remain dominant through the forecast years. The rising demand for maintaining stadium infrastructures and data-driven operations is supporting the growth of the market in North America. On the other hand, the market in the Asia Pacific is projected to witness strong demand in the forecast period. The rising sports league culture in this region has resulted in the rise in the number of national and international events hosted in the region. This, in turn, is expected to propel the growth of the Asia Pacific market. One of the significant trends observed in APAC stadiums is the rising focus on engaging and delighting fans. This will augment demand for smart stadium security solutions in the coming years, thus driving the market in Asia Pacific.
The global stadium security market can be segmented into the following categories:
· Hardware (Access Control System, Video Surveillance System, Intrusion Alarm, Fire Alarm Systems, Others (Public Address System, Metal Detectors))
· Software & Services
By Seating Capacity
· Less than 30000
· 30000 - 50000
· More than 50000
· North America (USA and Canada)
· Europe (UK, Germany, France, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
· Latin America (Brazil, Mexico and Rest of Latin America)