Global Smart Cities Market Research Report

 

Global Smart Cities Market

The GMI Research forecasts that the Smart Cities Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the various benefits of smart cities like better transportation and enhanced infrastructure and the rising strategies by the government.

Request a free sample of this report

Introduction of the Smart Cities Market

Smart cities refer to the use of digital and telecommunication technologies to enhance the effectiveness of urban services and generate new economic opportunities in cities. They help in magnifying the use of resources with more innovative urban transport networks, safer public spaces, upgraded water supply, and waste disposal facilities.

Key Players of the Global Smart Cities Market:

  • Alphabet, Inc.
  • Siemens AG
  • International Business Machines Corporation
  • Emerson Electric Co.
  • SAP SE
  • Koninklijke Philips N.V.
  • Cisco Systems, Inc.
  • Schneider Electric SE
  • ABB Ltd.
  • Honeywell International Inc

Smart Cities Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

The accelerating urban population, augmenting demand for public protection, and surging measures by the government to develop smart transportation, utilities, buildings, and education services are some of the prominent drivers proliferating the growth of the global smart cities market. Also, the expanding availability of cheaper internet of things (IoT) sensors, artificial intelligence (AI), and allocated hybrid multi-cloud architectures is further strengthening the smart cities market size. In accordance with the United Nations, approximately 68% of the world population is likely to relocate to urban areas by 2050. Escalating traffic blockage, shortage of water and electricity, and public security led by swift urbanization will fuel the market growth. Moreover, enormous advantages imparted by these cities including better transportation, decreased environmental footprints, effective public utilities, optimum distribution of resources, and raised digital equity will contribute to the market growth. However, excessive initial investments required for their establishment will hamper the market growth. Furthermore, the growing agitation towards privacy and indemnity, mounting incidences of data theft, and high reliability on electronics and networking may restrain the smart cities market share.

Solution Segment Drivers

Based on solution, smart mobility management is predicted to dominate the market over the forecast period. This is attributed to the increasing need for an effective, safe and secure public transport system, incorporated with mobility-as-a-service (MaaS). Rising apprehension about CO2 emissions of road transport and the escalating endorsement of autonomous connected electric and shared vehicles further supplements the market growth. On the other hand, smart healthcare is projected to grow at a faster CAGR during the forecast period. This is owing to the mounting adoption of digital healthcare platforms including, mobile nursing station, remote patient supervision, and smart drug picking system. Some of the key enterprises including HQSoftware, OSPLabs, Mindbowser Infosolutions, and Biz4intellia Inc. proffer IoT healthcare solutions and services, which will raise the market growth.

Regional Drivers

Based on regional coverage, Asia-Pacific is expected to expand at a faster CAGR over the forecast period. This is primarily attributed to the changing urban demographics, rapid city enlargement, and increasing public-private partnership (PPP) for the blossoming of infrastructure and services. Moreover, various government smart cities projects, including Smart Cities Mission, India; Taipei Smart City Living Lab project, Taiwan; Haikou City Brain, China, are supplementing the market growth.

Smart Cities Market Segmentation:

Segmentation by Solution
  • Smart Mobility Management
  • Smart Public Safety
  • Smart Healthcare
  • Smart Building
  • Smart Utilities
  • Smart Security
  • Smart Education
  • Others
Segmentation by Region:
  • North America
    • United States of America
    • Canada

 

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

 

Comments

Post a Comment

Popular posts from this blog

Managed Print Services Market Size, Share, & Growth Analysis - 2020-2027

Image
  Managed Print Services Market The Managed Print Services Market is estimated to reach USD 70 billion by 2027, growing at a CAGR of 8.2% over the forecast period (2020-2027). The factors driving the growth of Managed Print Services Market includes digital transformation across the industry verticals such as Banking, Financial Services, and Insurance (BFSI), Healthcare and Telecommunication, emerging need to reduce paper wastage and growing trend of Bring Your-Own Device (BYOD). According to the report published by Environmental Paper Network, the consumption of paper worldwide has drastically increased by 400% over the last four decades, on an average a citizen in the United States uses more than 700 pounds of paper every year, which will boost the Managed Print Services Market Growth in the approaching years. Moreover, the growing adoption of Cloud Computing and Big Data Analytics by the major organizations, increasing investments by the leading players on research and development
Read more

Crypto Asset Management Market size, share & Trends Forecast 2028

Image
  The Crypto Asset Management Market was estimated around USD 315 million in 2020 and is predicted to grow at a CAGR of 21.1%, over the forecast period (2021-2028). The factors driving growth of the market includes rise in the number of institutional investors and wealth managers investing first time in crypto currency, surge in the volumes of online transactions around the world, emerging need to secure cryptocurrency assets, Government initiatives promoting digitalization and improvements in the living standards. Cryptocurrency asset management platforms allow investors to manage different wallets in one spot, simplifies the management of the developing crypto asset for seasoned traders, and helps users to increase their portfolio, are some of the features pushing the Crypto Asset Management Market size . Moreover, increasing adoption of cryptocurrency across industry verticals such as Healthcare, Retail and Commerce, BSFI, advancements in Internet of Things (IoT) and Artificial Inte
Read more

Liquefied petroleum gas Market Size, Share, Growth 2027

Image
  Liquefied Petroleum Gas Market The Liquefied Petroleum Gas Market is expected to grow at a faster CAGR over the forecast period (2020-2027). The factors driving the growth of Liquefied Petroleum Gas Market includes increasing use of liquefied petroleum gas as a substitute to fossil fuels, growing demand for natural gas and oil around the world and rising awareness amongst consumers about the benefits of liquefied petroleum gas. According to the report published by Statista, the Global Oil and Gas Storage Market was estimated around USD 929 million in 2019 and is expected to reach more than USD 1 billion by the end of 2026, which will boost the Global Liquefied Petroleum Gas Market in the approaching years. Moreover, growing emphasis on using cleaner sources of energy, increasing application of liquefied petroleum gas in households and restaurants for cooking and heating food and strict regulations imposed by Government reduce the carbon emission levels, are some of the additional fa
Read more