PUBLISHER: The Business Research Company | PRODUCT CODE: 1428337
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428337
Artificial intelligence (AI) in stadiums involves the application of intelligent technologies and algorithms to enhance different facets of the stadium experience, operations, and services. The objective of implementing AI in stadiums is to improve fan engagement, boost operational efficiency, heighten security and safety measures, enable data-driven decision-making for personalized and immersive fan experiences, streamline operations, optimize resource allocation, and create a safer and more secure environment.
The primary categories of artificial intelligence in stadium products include digital content management, stadium and public security, building automation, event management, network management, and crowd management. Digital content management pertains to the organization, storage, retrieval, and distribution of digital content in a structured and efficient manner. These components, comprising software and services, find application in various sectors such as government, schools, and others.
The artificial intelligence in stadium market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence in stadium market statistics, including artificial intelligence in stadium industry global market size, regional shares, competitors with an artificial intelligence in stadium market share, detailed artificial intelligence in stadium market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence in stadium industry. This artificial intelligence in stadium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The artificial intelligence in stadium market size has grown exponentially in recent years. It will grow from $2.14 billion in 2023 to $3.33 billion in 2024 at a compound annual growth rate (CAGR) of 56.0%. The growth observed during the historical period can be attributed to the enhancement of fan engagement, advancements in security and surveillance, improvements in operational efficiency, the integration of data analytics in sports, the adoption of technology in sports venues, and the achievement of cost reduction.
The artificial intelligence in stadium market size is expected to see exponential growth in the next few years. It will grow to $17.61 billion in 2028 at a compound annual growth rate (CAGR) of 51.6%. The anticipated growth in the forecast period can be attributed to the development of smart stadium infrastructure, the implementation of health and safety measures, initiatives for energy efficiency, improvements in in-stadium services, smart seating arrangements, integration of social media, and the utilization of voice-activated stadium controls. Major trends expected in the forecast period encompass innovations in ticketing, advancements in 5G connectivity, integration with augmented reality (AR) and virtual reality (VR), AI-powered sustainability practices, and the use of robotics for fan assistance.
The anticipated rise in the number of participants in sporting events is expected to drive the growth of artificial intelligence in the stadium market in the future. Sporting events involve organized competitions or gatherings where athletes or teams compete in various sports disciplines. The implementation of artificial intelligence in stadiums utilizes AI technologies and systems to enhance performance analysis, improve the fan experience, assist referees, enable predictive analytics, and optimize stadium operations. For example, a May 2022 report from Tourism Economics, a Philadelphia-based information services organization, indicated that the number of travelers attending sporting events in the United States increased from 96 million in 2020 to 175 million in 2021. Additionally, a February 2023 report from the Sports & Fitness Industry Association (SFIA) stated that approximately 77.6% of all Americans, or 236.9 million people, participated in at least one activity in 2022 across 124 different sports, fitness, and outdoor pursuits. Consequently, the surge in sporting event participants is fueling the growth of artificial intelligence in the stadium market.
The expected increase in the number of sports events is projected to propel the growth of the artificial intelligence in the stadium market in the coming years. Sports events are planned activities or tournaments where individuals or teams participate in various sports disciplines. These events drive the adoption of artificial intelligence in stadiums, fostering innovation, improving operational efficiency, and enhancing the overall experience for spectators, athletes, and stakeholders. For instance, a January 2022 report from Austadiums, an Australian-based website providing stadium news and updates, revealed that the Austadiums Sports database recorded 1714 events in 2022, marking an increase from 1354 in 2021 and 1080 during the COVID-affected year of 2020. Thus, the rise in the number of sports events is steering the artificial intelligence in the stadium market.
Advancements in technology represent a prominent trend gaining traction in the artificial intelligence in the stadium market. Major companies in this market are adopting new technological innovations to maintain their competitive position. For instance, in November 2022, SoFi Stadium, a US-based sports and entertainment venue, and YouTube Theater, a US-based indoor entertainment venue, introduced AI-based security screening by Evolv Technology. Evolv Technology, a US-based company, provides advanced security screening solutions utilizing artificial intelligence (AI) and machine learning technologies. This innovative AI-based security screening aims to enhance event entrance safety by efficiently detecting threats. Evolv's Express technology, employed at SoFi Stadium and YouTube Theatre, combines sophisticated sensor technology with AI to enable unprecedented volume and speed in threat detection, allowing fans to streamline entry without unnecessary delays.
Major companies in the artificial intelligence in stadium market are adopting a strategic partnership approach to introduce a unique augmented reality (AR) navigation experience. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. For instance, in May 2022, Telstra Group Limited, an Australia-based telecommunications company, Google LLC, a US-based technological company, and Accenture Plc, an Ireland-based information technology company, collaborated to create a new 5G-powered AR navigation experience for Melbourne's Marvel Stadium. This experience overlays digital data onto the real-world setting and incorporates Telstra's 5G innovations hosted on Google Cloud, artificial intelligence, and state-of-the-art computer vision powered by Google's ARCore Geospatial API. Accenture is working with Telstra to develop unique client experiences that fully leverage the potential of cloud continuum, AR, and 5G technologies.
In July 2023, Greenfly, a US-based software platform providing solutions for content management and distribution in the sports and entertainment industries, acquired Miro AI for an undisclosed amount. With this acquisition, Greenfly aims to solidify its position as the industry leader in short-form digital media orchestration, emphasizing its commitment to providing scalable enterprise solutions. Miro AI, a US-based company specializing in artificial intelligence in sports, adds significant value to Greenfly's capabilities.
Major companies operating in the artificial intelligence in stadium market report are Inspur Technologies Co Ltd., Alphabet Inc., Microsoft Corporation, Siemens AG, General Electric Company, Intel Corporation, IBM Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., Fujitsu Ltd., Nvidia Corporation, Ericsson Ab, Johnson Controls International plc, Tyco International Ltd., NEC Corporation, Huawei Enterprise Business Group, Centurylink Inc., Telefonaktiebolaget LM Ericsson, Dahua Technology Co. Ltd., NTT Data Corporation, Axis Communications AB, Bosch Security Systems, Verint Systems Inc., Avigilon Corporation, Byrom Plc, Pelco Inc., Genetec Inc., Hawk-Eye Innovations Ltd., Hanwha Techwin Co. Ltd., Dignia Systems Ltd.
North America was the largest region in the artificial intelligence in stadium market in 2023. The regions covered in the artificial intelligence in stadium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the artificial intelligence in stadium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The artificial intelligence in stadium market consists of revenues earned by entities by providing AI-powered fan experience, ticketing, access control broadcasting, and media services. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence in the stadium market also includes sales of chatbots, virtual assistants, and smart ticketing systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Artificial Intelligence In Stadium Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on artificial intelligence in stadium market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for artificial intelligence in stadium ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The artificial intelligence in stadium market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.