The biggest opponent most sports team owners are facing these days has nothing to do with rivalries against other teams; it’s about competing with the growing percentage of fans who’d rather enjoy the game on their giant 4K TVs from the comfort of their own living rooms.
To compete with other sports venues and fans’ ever-advancing home entertainment systems, where 85 percent of people have flat-panel TVs in their living rooms, sports venue executives are investing in AV solutions.
AVIXA’s 2018 Market Opportunity Analysis Report (MOAR) focused on sports venues “investigates the opportunities and challenges for providers of pro-AV solutions and technologies in this space,” according to the association press release.
“This is a market to watch,” said AVIXA senior director of market intelligence Sean Wargo.
“Venues and events are expected to produce $27.7 billion in pro-AV revenue in 2018 worldwide and grow at a healthy rate in the next five years, according to our Industry Outlook and Trends Report (IOTA).
AVIXA Research Results
MOAR: Sports Venues is the fifth in a series of market studies, with a final report on higher education forthcoming. The hospitality, retail, corporate and transportation reports were published earlier this year.
“It’s an exciting space for AV providers to work in. Stadium executives are determined to bring the wow factor to outdo other stadiums, so they are motivated to embrace advanced technologies like augmented reality, virtual reality, and interactive displays. However, their investments in standard AV technologies, such as lighting, audio, and security and surveillance, take priority,” said Wargo.
MOAR: Sports Venues “explores sports fans’ preferences when attending competitions, including the role technology plays in creating exceptional experiences,” according to the AVIXA press release.
The report “also examines the viewpoint of the purchasers of AV solutions at sports venue management companies, as well as the pro-AV systems integrators that work in the market.
Nearly 100 percent of venue executives surveyed plan to upgrade their audio equipment in the next 12 months. Audio investments are likely intended to ensure fans can hear announcers during the game, which fans listed as its most important AV role.
Video displays and video projection are the next most popular AV purchases, according to AVIXA research. Survey results indicate investments in digital signage will increase the most significantly over the next year.
“The AV provider survey revealed the sheer scope of the project budget attracts competitive pressure, but it’s also a challenge to ensure the venue gets what is needed to create a compelling fan experience,” according to the AVIXA research.
“Nonetheless, between market expansion, unmet needs, and the proportion of end users utilizing competitive RFPs to find new suppliers, there is plenty of room for smart, well-informed companies to thrive in this space.”