The security of the stadiums is of paramount importance in the times of major events such as sports events, concerts, and other such public gathering events taking place in the stadiums. Handling a huge crowd of people is not an easy task as crowd outbursts, misbehavior by some of the spectators, and crimes are a common sight. Also, there is high risk of terrorist attacks at the venue, as there have been in the past including 2017 Manchester attack and 2015 Paris attack, which poses a serious threat to human life. In order to ensure the safety of the spectators and an enhanced spectator experience, the security of the stadium is a vital element. Every stadium is equipped with a solid security system which consists of and is not limited to access control systems, CCTV cameras, metal detectors, fire alarm systems, intrusion alarm systems, among others.
The increasing frequency of the sports events taking place across the world is the primary driver for the stadium security market. Such large scale events are attractive to the terrorists and extremists group of people. In order to ensure the safety of the citizens and give them an enhanced spectator experience, the safety and security of the stadiums is of pivotal importance. Another driver that is contributing to the growth of the market is the technological advancements pertaining to the stadium security. With the help of smart security systems, the safety agencies such as police and private security personnel can respond promptly and efficiently in cases of any emergency situations.
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Channel Partner Segment to Contribute Significantly to the Market
The global stadium security market is segmented in terms of components into hardware, software, and services. The hardware segment is further categorized into access control systems, videos surveillance systems, and others. Others consist of staffing, stadium light poles, and bollards. The software segment is further segmented into on-premise based and cloud based software. Furthermore, the services segment is further classified into installation and maintenance services, and others. Others includes technical support, and training. Video surveillance segment from the hardware is expected to hold a highest revenue share for the global stadium security market in 2025, as majority of the stadiums across the globe deployed video surveillance systems for the comprehensive safety and security of the spectators and participants
By sales channel, the stadium security market is segmented into channel partner, direct sales, and others. Others segment includes retailors, online marketplaces, and outsourced sales. Deciding the correct sales channel can affect not only the company’s marketing strategies, but also the potential revenue of the businesses. The channel partner segment is expected to hold a significant revenue share of US$ 10,956.1 Mn during the forecast period. The channel partner segment consists of various participants including distributers and system integrators. Channel partner helps stadium security manufacturers in many way including providing installation and maintenance services, sales, brand and marketing support. Furthermore, it helps in gaining the additional revenues from current customers by meeting more of their related security needs. However, direct sales segment is expected to grow at a significant CAGR of 12.99 % during the forecasting period. This growth is mainly due to the growing trend of direct selling adopted by various stadium security products manufacturers. Direct sales provide many advantages to a company, for instance, a manufacturer can have a full control of the sales process and can manage the pipeline without any external party interference. Furthermore, direct selling means that the companies don’t have to share the revenues with a channel partner.
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North America to Exhibit Lucrative Prospects during Forecast Period
North America is anticipated to grow at a significant CAGR of 13.65% over the forecast period as the major economies including the U.S. and Canada are predominantly on the target list of the terrorist. In September 2016, the Carolina panthers reported the spending of more than US$ 3 million to upgrade a Bank of America Stadium security system. The security system includes bomb-sniffing dogs, and more than 100 new metal detectors. Additionally in April 2016, Major League Soccer (MLS) announced the provision of enhanced security for all the sporting league events from North American. The new enhanced security includes, innovative screening methods upon stadium entry at all the matches.
The key players profiled in this report include – Avigilon Corporation, AxxonSoft, BOSCH Security Systems, Genetec Inc., Dallmeier, Honeywell International Inc., NEC Corporation, Rapiscan Systems, CISCO Systems Inc., and Intel Corporation, among others.
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