The Artificial Intelligence In Stadium Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence In Stadium Global Market Report 2024, 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 in the historic period can be attributed to fan engagement enhancement, security and surveillance, operational efficiency, data analytics in sports, technology adoption in sports venues, 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 growth in the forecast period can be attributed to smart stadium infrastructure, health and safety measures, energy efficiency initiatives, enhanced in-stadium services, smart seating arrangements, social media integration, voice-activated stadium controls. Major trends in the forecast period include ticketing innovations, advancements in 5g connectivity, integration with augmented reality (ar) and virtual reality (vr), ai-powered sustainability practices, robotics for fan assistance.
The increase in the number of participants in sporting events is expected to propel the growth of artificial intelligence in the stadium market going forward. Sports events refer to organized competitions or gatherings where athletes or teams compete against each other in various sports disciplines. The application of artificial intelligence in stadiums implements AI technologies and systems to enhance performance analysis, improve the fan experience, assist referees, enable predictive analytics, and optimize stadium operations. For instance, in May 2022, according to Tourism Economics, a Philadelphia-based information services organization, there were 96 million travelers attending sporting events in the United States 2020. That number increased to 175 million travelers in 2021. Further, in February 2023, according to the Sports & Fitness Industry Association (SFIA), a US-based promoter of sports and fitness participation, around 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. Therefore, the increase in the number of participants in sporting events is driving the growth of artificial intelligence in the stadium market.
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The artificial intelligence in stadium market covered in this report is segmented –
1) By Product: Digital Content Management, Stadium And Public Security, Building Automation, Event Management, Network Management And Crowd Management
2) By Component: Software, Service
3) By Application: Government, School, Other Applications
Advancements in technology are a key trend gaining popularity in artificial intelligence in the stadium market. Major companies operating in artificial intelligence in the stadium market are adopting new technological advancements to sustain their position in the market. For instance, in November 2022, SoFi Stadium, a US-based sports and entertainment venue, and YouTube Theater, a US-based indoor entertainment venue, launched AI-Based security screening by Evolv Technology. Evolv Technology is a US-based company that provides advanced security screening solutions using artificial intelligence (AI) and machine learning technologies. This new AI-based security screening is launched to make the entrances to the events safer and more effective in detecting threats. Evolv’s Express technology is used in SoFi Stadium and YouTube Theatre to enable danger detection at an unprecedented volume and speed. It combines sophisticated sensor technology with AI. Fans can bypass long queues, go straight through each venue’s entrances, and pass past the sensors without always stopping.
The artificial intelligence in stadium market report table of contents includes:
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