Sporting and massive events arenas and stadiums are dollar-intensive assets, and management of all aspects of the facilities is no easy task. The ambit of stadium and arena management is quite wide: regular maintenance of facility infrastructure such as seating, parking, and restrooms, efficient management of inventory, security, overseeing and inspection of all technologies, and many more. These are key to conducting these large-scale events smoothly, with key focus on meeting the timelines and making substantial dollar savings. Growth in the stadium and arena management solution market stems from this drive and need. Not just this, providers of stadium and arena management solutions must make constant cost-evaluations and cater to specific branding requirements of sports leagues.
The stadium and arena management solution market has gathered momentum over the past few decades on the back of growing numbers of professional sports leagues around the world. Success of these events have been multi-team efforts, and hence a key aspect is the automation of various operational processes of the arena.
Stadium and Arena Management Solution Market: Competitive Analysis and Key Developments
Key types of offering in the stadium and arena management solution market are software and services. Some of the main types of software are used in crowd management, catering management, staffing management, booking and sales management, broadcasting equipment and lighting fixtures maintenance. Growing demand for these solutions in automating work order processes and paperwork is a key driver for new demand in the stadium and arena management solution market. The increasing trend of integrated software programs is also boosting the market prospects.
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Over the years, facility managers have made a conscious shift from one-size-fits-all solutions to those that are tailored to meet emerging needs. The growing complexity of building maintenance management needs, from laying floor plans to managing vendor performance, is a key trend expanding the horizon of the stadium and arena management solution market. Over the years, mobile solutions have gathered considerable steam. Features such as real-time cloud based syncing and other automation tools enabled through mobile devices are attracting end users in the stadium and arena management solution market.
Stadium and Arena Management Solution Market: Key Trends
In the recent months, COVID-19 pandemic restrictions in various countries have hit revenues due to absence of visitors in stadiums and arenas. However, gradually, things are getting back to normalcy. This, in essence, has created a prospect for new design parameters in the next few months. One key trend in the stadium and arena management solution market is reducing the net carbon footprint to zero. Amazon, working toward the Climate Pledge, revealed its plans to make Seattle’s downtown NHL and WNBA arena net-zero carbon arena.
The facility is likely to powered entirely by renewables. Moreover, Amazon will be working to substantially optimize the energy use and overall operating costs. This a much needed step, experts evaluating new revenue streams in the stadium and arena management solution market affirm. Over the years, MLB, The NFL, MLS, National Tennis League, and National Collegiate Athletic Association have been endorsing the use of sustainable energy through large-scale adoption of solar panels.
Continuing efforts in green stadium design will likely unlock several new prospects in the stadium and arena management solution market.
Some of the key stakeholders offering asset solutions and are garnering good stakes in the stadium and arena management solution market are Eventpro, P. Schoenfeld Asset Management LP, Fujitsu, Tech Mahindra, and IBM.
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Stadium and Arena Management Solution Market: Regional Assessment
North America, Latin America, Europe, Japan, APEJ, and the Middle East and Africa are some of the major regional segments for the growth of the stadium and arena management solution market. Of these, North America has remained a remarkable lucrative regions to solution providers in the past decade, The vast appetite of these solutions to streamline operational and maintenance activities is spurring opportunities in the regional market.