Overview and Scope
An entertainment and sports building refers to a complex covering hundreds of acres that needs a ticket for entry to watch a sporting event and entertainment event. They include watching plays, and movies, and participating in athletics. The industry includes the design and construction of entertainment and sports buildings.
Sizing and Forecast
The entertainment and sports buildings market size has grown steadily in recent years. It will grow from $272.99 billion in 2023 to $286.6 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to global sporting events hosting, rise in popularity of sports and entertainment, economic growth and investments, urbanization and lifestyle changes, corporate sponsorship and revenue generation..
The entertainment and sports buildings market size is expected to see strong growth in the next few years. It will grow to $349.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to focus on sustainable and green infrastructure, multi-use and flexibility requirements, public-private partnerships in development, changing consumer preferences and event formats, post-pandemic recovery and return to live events.. Major trends in the forecast period include contactless technologies for ticketing and transactions, focus on inclusivity and accessibility, integration of augmented reality (ar) for live events, smart stadiums and venue connectivity, health and safety measures..
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Segmentation & Regional Insights
The entertainment and sports buildings market covered in this report is segmented –
1) By Buidling Type: Non Residential Smart Buildings, Traditional Buildings
2) By Construction Type: New Construction, Renovation
3) By End User: Private, Public
Asia-Pacific was the largest region in the entertainment and sports buildings market in 2023. Africa is expected to be the fastest-growing region in the entertainment and sports buildings market during the forecast period. The regions covered in the entertainment and sports buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing investment by the government for the improvement of various buildings is driving the growth of the entertainment and sports buildings market going forward. The construction and renovation of sports and entertainment facilities can be significantly aided by government investments. Governments fund the development of new sports and entertainment structures as well as the renovation of preexisting ones. These funds, which may take the form of grants or loans, can help defray some of the expenses related to constructing or improving these facilities. Hence, the increasing government funding for sports and entertainment building improvement is boosting the market. For instance, in March 2022, according to a report published by the government of the UK, a total of £230 million ($285.5 million) will be invested to help build or upgrade up to 8,000 best pitches across the UK over the next four years, with £39 million ($48.4 million) going towards football facilities in England this fiscal year. Clubhouses, locker rooms, and community buildings will also be built or renovated with the funding. Therefore, the growing investment by the government for the improvement of various buildings is boosting the growth of the entertainment and sports buildings market.
Key Industry Players
Major companies operating in the entertainment and sports buildings market are focused on collaboration and partnerships to provide reliable services to customers. A strategic partnership refers to a structured affiliation between two or more commercial enterprises, typically established via one or more business agreements or contracts. For instance, In March 2023, Acrisure Stadium, a US-based stadium, partnered with Evolv Technology, a US-based AI weapons detection security screening provider, to install Evolv Express solutions, an AI solution that distinguishes between commonplace items and threats, at its gates to detect weapons from attendees without checking their belongings. The stadium will install Evolv Express screening solutions at its busiest gates, which can screen most fans as they enter the venue for Steelers games and other events.
The entertainment and sports buildings market report table of contents includes:
1. Executive Summary
2. Entertainment And Sports Buildings Market Characteristics
3. Entertainment And Sports Buildings Market Trends And Strategies
4. Entertainment And Sports Buildings Market – Macro Economic Scenario
5. Global Entertainment And Sports Buildings Market Size and Growth
….
31. Global Entertainment And Sports Buildings Market Competitive Benchmarking
32. Global Entertainment And Sports Buildings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Entertainment And Sports Buildings Market
34. Entertainment And Sports Buildings Market Future Outlook and Potential Analysis
35. Appendix
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