Stadium and Arena Management Solution Market: Overview
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.
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.
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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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.