Entertainment and Sports Buildings Global Market Report 2024

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 observed in the historical period can be attributed to several factors, including the hosting of global sporting events, a surge in the popularity of sports and entertainment, economic growth and increased investments, urbanization and associated lifestyle changes, as well as corporate sponsorship contributing to revenue generation. These factors collectively played a pivotal role in the expansion of the entertainment and sports building industry during the historic period.

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 anticipated growth in the forecast period can be attributed to several factors, including a heightened focus on sustainable and green infrastructure, increased emphasis on multi-use and flexibility requirements for entertainment and sports buildings, the involvement of public-private partnerships in development projects, changing consumer preferences and evolving event formats, and the post-pandemic recovery leading to a return to live events. Major trends expected in this period include the adoption of contactless technologies for ticketing and transactions, a focus on inclusivity and accessibility in venue design, the integration of augmented reality (AR) for live events, the development of smart stadiums with enhanced venue connectivity, and an increased emphasis on health and safety measures within these facilities.

The burgeoning government investments geared towards enhancing various buildings are instrumental in driving the growth trajectory of the entertainment and sports buildings market. The construction and refurbishment of sports and entertainment venues receive significant impetus from government funding initiatives. These investments often take the form of grants or loans, substantially aiding the development or revamping of such facilities. This infusion of government funds contributes significantly to defraying expenses related to building or upgrading these structures. A case in point is the UK government's report in March 2022, announcing a substantial £230 million ($285.5 million) allocation over four years to facilitate the construction or renovation of up to 8,000 high-quality pitches across the UK. Specifically, £39 million ($48.4 million) is earmarked for enhancing football facilities in England within the current fiscal year, encompassing the construction or refurbishment of clubhouses, locker rooms, and community buildings. This robust government investment underscores its pivotal role in bolstering the growth of the entertainment and sports buildings market.

The burgeoning population of athletes stands poised to fuel the expansion of the entertainment and sports buildings market. Athletes, skilled in physical pursuits demanding attributes such as strength, speed, agility, and endurance, benefit immensely from dedicated sports facilities. Entertainment and sports buildings provide a conducive and regulated environment for athletes to refine their skills, engage in consistent training, and participate in organized sporting events. Notably, the National Collegiate Athletic Association reported a 5% surge in the number of student-athletes competing in NCAA women's championship sports, escalating from 215,466 in 2021 to 226,212 in 2022. This upward trend in athlete numbers underscores the pivotal role athletes play in propelling the growth of the entertainment and sports buildings market.

Technological advancements represent a prevailing trend gaining prominence within the entertainment and sports buildings market. Leading companies within this domain are actively innovating, leveraging advanced technologies such as autonomous vehicles for construction, including autonomous track loaders (ATL), autonomous dozers, and other cutting-edge solutions. Komatsu Ltd., for instance, introduced the Smart Construction Drone in December 2021, a technology designed to streamline production tracking. This innovative drone harnesses the power of 3D visualization and geospatial precision provided by Cesium to collect accurate topographical data and quantify production progress. Equipped to capture still photos from heights of up to 400 feet above ground level or beneath bridge decks, this technology exemplifies the strides made in integrating advanced tools for efficient construction and monitoring within the entertainment and sports buildings market.

Prominent entities within the entertainment and sports buildings market are prioritizing collaboration and forging strategic partnerships as a means to offer dependable services to their clientele. Such strategic partnerships are characterized by formal affiliations between two or more commercial enterprises, typically established through one or multiple business agreements or contracts. A notable example occurred in March 2023 when Acrisure Stadium, a US-based stadium, joined forces with Evolv Technology, a US-based provider specializing in AI-driven weapons detection for security screening. This collaboration aimed to implement Evolv Express solutions, an AI-powered system capable of distinguishing between ordinary items and potential threats, at the stadium's entrances. By deploying Evolv Express screening solutions at its busiest gates, the stadium aims to screen most attendees efficiently during events such as Steelers games, enhancing security without the need to physically inspect attendees' belongings.

In October 2022, Bouygues SA, a France-based engineering conglomerate involved in construction, energy, and transport infrastructure, completed the acquisition of Equans for a substantial €6.1 billion ($6.64 billion). This strategic acquisition is anticipated to fortify Bouygues' existing portfolio while positioning the company as a leading force within the multi-technical services market. Equans, an Austria-based company renowned for its tailored solutions in construction, is expected to synergize effectively with Bouygues, contributing to the latter's expansion and strengthened market position.

Major companies operating in the entertainment and sports buildings market report are Shanghai Construction Group Co. Ltd., Bouygues SA, Obayashi Corporation, Daiwa House Industry Co. Ltd., Metallurgical Corporation of China Limited, Sunac China Holdings Ltd., Kajima Corporation, Brookfield Asset Management, Sekisui House Ltd., China Communications Construction Company Ltd., China State Construction Engineering Corp. Ltd., Larsen & Toubro Ltd., Vinci Construction SA, Greenland Holding Group, Turner Construction, AECOM Technology Corporation, Skanska AB, Jacobs Engineering Group Inc., Fluor Corporation, Balfour Beatty plc, Clark Construction Group LLC, Hensel Phelps Construction Co., PCL Construction Enterprises Inc., McCarthy Building Companies Inc., Mortenson Construction, Whiting-Turner Contracting Company, Gilbane Building Company, DPR Construction Inc., JE Dunn Construction Group Inc., Webcor Builders Inc., Swinerton Inc., Suffolk Construction Company Inc., Ryan Companies US Inc., Turner Logistics India Pvt. Ltd., Barton Malow Company, The Boldt Company, Henry C. Beck Company, Gray Construction Services Inc., The Haskell Company, The Korte Company.

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. The countries covered in the entertainment and sports buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of entertainment and sports buildings are categorized as non-residential smart buildings and traditional buildings. Non-residential smart buildings refer to businesses that leverage technology and automation to enhance energy efficiency, optimize space utilization, and improve the comfort and productivity of occupants. The construction types for these buildings can involve new construction or renovation, and the end users encompass both private and public entities.

The entertainment and sports building market research report is one of a series of new reports that provides entertainment and sports building market statistics, including entertainment and sports building industry global market size, regional shares, competitors with an entertainment and sports building market share, detailed entertainment and sports building market segments, market trends and opportunities, and any further data you may need to thrive in the entertainment and sports building industry. This entertainment and sports building market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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