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.
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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Stadium Security Market to Gain Significant Revenues Owing to High Danger of Militant Assaults
The high risk of terrorist attacks at events and gatherings is a prime factor fueling the growth of the global stadium security market in the years to come. The security of the arenas is of central significance in the hours of significant occasions, for example, games, shows, and other such open social affair occasions occurring in the arenas. Taking care of a gigantic horde of individuals is certifiably not a simple undertaking as group upheavals, misconduct by a portion of the onlookers, and violations are a typical sight. Likewise, there is high danger of psychological militant assaults at the setting, as there have been in the past including 2017 Manchester assault and 2015 Paris assault, which represents a genuine danger to human existence. To guarantee the wellbeing of the onlookers and an improved observer experience, the security of the arena is a crucial component. Each arena is outfitted with a strong security framework which comprises of and isn’t restricted to get to control frameworks, CCTV cameras, metal indicators, alarm frameworks, interruption caution frameworks, among others.
Based on sales channel, the global market is likely to witness the dominance of the channel partner segment on account of the major adoption by various stadium security product manufacturers. Besides this, direct sales offers various other advantages such as complete control on sales process or pipeline management without the interference of any external party. In terms of component, the market is classified into software, hardware, and services. Among these, the hardware section is again categorized into video surveillance systems, access control systems, and others. On the other hand, the software section is divided into cloud based software and on-premise software.
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Geographically, the market is dominated by North America with Canada and the United States. The rising recurrence of games coordinated in various pieces of the world and hordes of aficionados going to them could keep on raising the interest for arena security at a sharp rate. Brief reaction guaranteed by security organizations during crises or untoward occasions has been required to additional flood the interest soon. All things considered, giving unique experience and determining the security of guests are of prime significance according to arena specialists.
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