North America to lead growing global stadium security market

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07/17/2019

The increasing focus on safe cities and securing sports events and concerts in stadiums is aiding expansion of the global Stadium Security Market. 

The global market was valued at $6.2 billion in 2017 and is expected to reach $16.1 billion by 2025, growing at a CAGR of 12.8 percent during the forecast period, according to a new report from Fortune Business Insights based in Pune, India.

The report, titled “Stadium Security Market: Global Market Analysis, Insights and Forecast, 2018-2025,” offers insights into the market and the rising importance on public safety and security in stadiums across the world. According to the study, stadium owners are now installing well-equipped security systems including metal detectors, intrusion alarm systems, access control systems, CCTV cameras, facial recognition systems and fire alarm systems.

“Technological advancements such as adoption of Internet of Things (IoT) in stadium security systems is expected to enhance the spectator experience,” noted one of the lead analysts on the study. “Upgradation of stadium security plan can offer a convenient and personalized experience to spectators and simultaneously ensures complete security.” Moreover, IoT adoption helps in the effective management of stadium infrastructure, contributing towards the growth of the market, he said.

As per seating capacity, stadiums with capacity between 30,000 and 50,000 are anticipated to grow at a rapid pace driven by rising number of events and concerts, growing at a CAGR of 13.4 percent and. On the other hand, stadiums with a capacity of less than 30,000 seats are projected to account for the highest share in the global market. However, this segment is anticipated to exhibit a CAGR of 12.5 percent during the forecast period.                     
                                                                         
North America is expected to lead the global Stadium Security Market in the forecast years. Predominantly, Canada and the U.S are on alert for terrorist attacks, which compels the stadium owners to adopt stadium security solutions. Rapid technological advancements in stadium security systems and growing demand for maintaining stadium infrastructure are driving the market in North America. The market in Asia Pacific is expected to gain an impressive share in the forecast years.
 
Increasing terrorist threats and pressing need for ensuring public safety are compelling companies to develop innovative and smart stadium security measures. “To gain an edge over strong competition, several leading players are installing stadium security systems at some major stadiums to maintain their position in the global market,” the research firm found.

The top 10 players covered two-third of the share in the global market in 2017, the study noted, including:
•    Avigilon Corp.
•    AxxonSoft
•    BOSCH Security Systems
•    CISCO Systems Inc.
•    Dallmeier
•    Genetec Inc.
•    Honeywell International Inc.
•    Intel Corporation
•    NEC Corporation
•    Rapiscan Systems