Global Stadium Security Market to Rise to US$ 16057.6 Mn by 2025
A report by Fortune Business Insights projects the global stadium security to grow rapidly over the next few years. The analysis estimates that the United States and Canada will lead the charge, with the Asia Pacific experiencing high growth as well.
- By Kaitlyn DeHaven
- Jun 19, 2019
A report released by Fortune Business Insights this week anticipates the Stadium Security Market to grow rapidly during the next few years. The report, titled “Stadium Security Market: Global Market Analysis, Insights and Forecast, 2018-2025” stated that there is a rising importance associated with stadium security due to the multitude of sports events and concerts that are held in stadiums.
The growth will include the installation of some solid security systems such as metal detectors, intrusion alarm systems, access control systems, CCTV cameras, and fire alarm systems. These will be put in place to deter and hopefully halt the growth of security incidents that occur in stadiums.
In 2017, the global market for stadium security was valued at US$ 6,236.9 Mn, and by 2025, it is forecasted to reach US$ 16,057.6 Mn. During this period, the global market is expected to exhibit a CAGR of 12.8%.
While stadiums with a capacity of less than 30,000 seats are expected to take the highest share in the global market, stadiums with seating capacity ranging from 30,000 to 50,000 are anticipated to rise at the largest CAGR – 13.4%. Moreover, as they are currently at the highest risk for terrorist attacks, the United States and Canada are predicted to lead the global stadium security market in the next few years, with the Asia Pacific market following behind.
Furthermore, IoT integration is expected to be placed in more stadiums as this market grows. A lead analyst at Fortune Business Insights said that these upgrades will offer a more pleasant spectator stadium experience.
“Technological advancements such as adoption of internet of things (IoT) in stadium security systems is expected to enhance the spectator experience,” he said. “Upgradation of stadium security plan can offer a convenient and personalized experience to spectators and simultaneously ensures complete security.”
Kaitlyn DeHaven is the Associate Content Editor for the Infrastructure Solutions Group at 1105 Media.