Global Smart Cities Market By Component (Hardware, Services, Software), Application (Smart Transportation, Smart Utilities, Smart Education, Smart Healthcare, Smart Public Safety, Smart Governance, Smart Lighting Solutions, Smart Buildings), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Market Analysis and Insights: Global Smart Cities Market
Smart cities market is expected to reach USD 390.13 billion by 2027 witnessing market growth at a rate of 21.18% in the forecast period of 2020 to 2027. Data Bridge Market Research report on smart cities market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Increasing need of advanced network infrastructure and public safety, adoption of smart and connected technology, rising usages of energy during peak hours, rising initiatives of the government for the adoption of Ppp model for smart cities which will likely to enhance the growth of the smart cities market in the forecast period of 2020-2027. On the other hand, emergence of 5G technology and internet of things, growing demand of system integrators for end to end solutions, rising environmental concern which will bring immense opportunities for the growth of the smart cities market in the above mentioned forecast period.
Unavailability of advanced technology in developing economies, poor operational efficiency and lack of uniform technology and standardisation are acting as market restraints for smart cities in the above mentioned forecasted period.
This smart cities market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart cities market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Cities Market Scope and Market Size
Smart cities market is segmented on the basis of component, and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Smart cities market on the basis of component has been segmented as hardware, services, and software.
- On the basis of application, smart cities market has been segmented into smart transportation, smart utilities, smart education, smart healthcare, smart public safety, smart governance, smart lighting solutions, and smart buildings. Smart transportation has been further segmented into parking management, ticketing & travel management, traffic management, passenger information management system, and freight information system. Smart utilities have been further segmented as smart energy management, smart water management, smart waste management, and smart distribution management. Smart energy management is further sub segmented into smart meter, meter data management, PV monitoring, smart grid, power electronics converters, and smart energy storage. Smart healthcare has been further segmented into connected healthcare solutions, and telemedicine. Smart public safety has been further segmented into surveillance, and command & control solutions. Smart governance has been further segmented into E-governance solutions, smart emergency management, smart law enforcement, and smart city planning. Smart buildings have been further segmented into smart lighting control systems, smart energy management system, and smart facility management system.
Smart Cities Market Country Level Analysis
Smart cities market is analysed and market size, volume information is provided by country, component, and application as referenced above.
The countries covered in the smart cities market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe will dominate the smart cities market due to the rising initiatives taken by government to enhance the government structures, technology ecosystem, financing models and provide improved infrastructure while Asia-Pacific will expect to grow in the forecast period of 2020-2027 due to the rising demand of infrastructure management, intelligent solutions for energy management along with rapid urbanization.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Cities Market Share Analysis
Smart cities market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart cities market.
The major players covered in the smart cities market report are Cisco Systems, Inc., Schneider Electric, IBM Corporation, Microsoft, Hitachi, Ltd., Siemens, Huawei Technologies Co., Ltd., Intel Corporation, Oracle, Telefonaktiebolaget LM Ericsson, GENERAL ELECTRIC, Vodafone Limited, Itron Inc., Nokia, Toshiba Corporation, Verizon, SAP SE, ABB, Alstom SA, Honeywell International Inc, AGT, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available: Global Smart Cities Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.