Global Artificial Intelligence In Stadium Market Report 2023: Size, Drivers, And Top Segments
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
According to The Business Research Company’s Artificial Intelligence In Stadium Global Market Report 2023, The global artificial intelligence in stadium market is expected to grow from $1.37 billion in 2022 to $2.14 billion in 2023 at a compound annual growth rate (CAGR) of 56.1%. The artificial intelligence in stadium market is expected to reach $11.85 billion in 2027 at a CAGR of 53.4%.
North America held the largest artificial intelligence in stadium market share.
Artificial Intelligence In Stadium Market Driver
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 2020, 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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Key Artificial Intelligence In Stadium Market Segments
The global artificial intelligence in stadium market 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
Artificial Intelligence In Stadium Market Prominent Players
Major players in the artificial intelligence in stadium market 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., and Dignia Systems Ltd.
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Prominent Artificial Intelligence In Stadium Market Trend
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 Global Market Report 2023 provides comprehensive insights on the artificial intelligence in stadium market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the artificial intelligence in stadium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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