Stadium Security Market Registers an Impressive 12.8% CAGR; Bosch Security Systems, together with Other Three Companies, is Leading the Market, finds Fortune Business Insights
The increasing
number of sports events and concerts in stadiums is aiding expansion of the
global stadium security market. Fortune
Business Insights in a report, titled “Stadium Security: Global Market Analysis, Insights and
Forecast, 2018-2025” published the above information. The report offers
exclusive insights into the market. The rising importance on public safety and
security in stadiums is gaining importance across the world. This is compelling
stadium owners to install well-equipped solid security system such as metal
detectors, intrusion alarm systems, access control systems, CCTV cameras, and
fire alarm systems. Over the past few years some unfortunate incidents have
taken place in stadiums. Taking this into consideration, the stadium management
decided to install facial recognition systems and restrict entry of
troublemakers.
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According
to the report, the global market was valued at US$ 6,236.9 Mn in the year 2017
and is expected to reach US$ 16,057.6 Mn by 2025. In addition to this, the
global market is anticipated to exhibit a remarkable CAGR of 12.8% during the
forecast period.
Stadium Seating Capacity Ranging from 30000-50000 Exhibits
13.4% CAGR
As per
seating capacity, stadiums with capacity between 30000 and 50000 are
anticipated to grow at a rapid pace. Furthermore, this range is expected to
rise at a CAGR of 13.4% driven by rising number of events and concerts. On the
other hand, stadiums with a capacity of less than 30000 seats are projected to
account for the highest share in the global market. However, this segment is
anticipated to exhibit a CAGR of 12.5% during the forecast period
.
North America with Rising Number of Terrorist Attacks to
Emerge Dominant
North
America is expected to lead the global stadium security market in the forecast
years. Predominantly, Canada and the U.S are on constant risk of terrorist
attacks, which compels the stadium owners to adopt stadium security solutions.
The market in this region was valued at US$ 2486.3 Mn as per revenue in 2017.
Rapid technological advancements in stadium security systems and growing demand
for maintaining stadium infrastructure are driving the market in North America.
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