The Stadium Security Market revenues were estimated at US$ 9.5 Bn in 2021 and is anticipated to grow at a CAGR of 7.2% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 21.3 Bn. Revenue through stadium security software hardware is expected to grow at a CAGR of 6.7% during 2022 – 2032.
Terrorist attacks at an occasion or event at a stadium have been the key element driving the expansion of the stadium security industry in the coming years. The safety and security of the venues are critical for big events, such as shows, games, and other open social gatherings that take place in the arenas. Managing a large group of people is not an easy task, since group upheavals, misbehavior by some bystanders, and infractions are all too often.
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Similarly, there is a strong risk of militant attacks at prime locations. In the past, the attacks including the 2017 Manchester attack and the 2015 Paris attack, posed a serious threat to human life. Numerous prominent players are implementing stadium surveillance systems at several large stadiums to get an advantage against tough competitors. Vodafone, for example, is expected to create a smart stadium safety and security system for the FIFA World Cup 2022 in Qatar.
Key Takeaways from the Market Study
● Global Stadium Security Market is expected to reach a market size of US$ 13.9 Bn by 2022.
● In terms of Component, the Hardware segment is expected to account for the highest CAGR of 6.7% during the forecast period.
● In terms of Sales Channel, the Channel Partner segment is expected to account for the highest CAGR of 8.3% during the forecast period.
● United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 3.5 Bn during 2022 – 2032.
● The market in U.S is set to experience the highest CAGR of 6.6% during the 2022-2032 forecast period.
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Competitive Landscape
The Stadium Security Market is highly concentrated, with a few competitors accounting for the vast majority of the market share. The established firms are attempting to obtain supremacy in this sector. These firms are increasing their profits and market shares through smart joint projects. The key stadium security
companies include Cisco Systems Inc., Intel Corporation, BOSCH Security Systems Inc., Avigilon Corporation, Honeywell International Inc., Axxonsoft, Genetec Inc., Rapiscan Systems, NEC Corporation, and Dallmeier.
Some of the recent developments in Stadium Security market include:
· In May 2021, Cisco acquired Kenna Security, a risk-based vulnerability management platform provider. It will enable Cisco offer its customers to collaborate cross-functionally to quickly discover, prioritize, and remediate cyber hazards.
Being a part of the SecureX system, Cisco Security will combine risk-based and threat vulnerability management, broadening the experience of the platform and offering full scorecards for security measures and threat response capabilities.
· In September 2021, Dallmeier, a provider of video security equipment in Germany announced that their Panomera multifocal sensor cameras have been seamlessly integrated into the Breakthrough XProtect video management software (VMS). The connection adds new possibilities for seeing and monitoring broad areas and massive geographical contexts to XProtect users.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Stadium Security Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Stadium Security Market in terms of Components (Hardware, Software, Services), Sales Channel (Channel Partners, Direct Sales, Others), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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