Smart Cities Market to Grow at 18.4% CAGR to 2023
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The Global Smart Cities Market size is expected to grow from US$ 308.0 Billion in 2018 to US$ 717.2 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period. There is an upsurge in the adoption rate of advanced technologies across businesses. The development in 5G and NB-IoT technologies is expected to drive the growth of the smart cities market.
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Browse and In-depth Table of Content on “Smart Cities Market”
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The rising demand for real-time transit information solutions for passengers, increasing adoption of smart phones, rising penetration of IoT solutions in the transportation sector have boosted the adoption of the passenger information management system for providing easy transport access to citizens.
APAC is expected to hold the highest CAGR among all regions, owing to the increasing adoption rate of IoT and rising demand for intelligent and smart solutions, while North America is expected to be the major contributor to the smart cities market. The increasing citizen empowerment and engagement is the major growth factor expected to drive the growth of the smart cities market.
The Study Objectives of this report are:
- To analyse the market’s subsegments with respect to the individual growth trends, prospects, and contributions to the total market
- To provide detailed information about the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
- To analyse the opportunities in the market for stakeholders and provide the competitive landscape of the market
- To analyse the competitive developments, such as mergers and acquisitions, new product developments, and R&D activities, in the market
- To forecast the revenue of the market’s segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA)
- To profile the key players and comprehensively analyze their recent developments and positioning in the smart cities market
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Top Key Players in the “Smart Cities Market” include are
- Cisco Systems (US)
- IBM (US)
- Siemens AG (Germany)
- Schneider Electric (France)
- Ericsson (Sweden)
- Vodafone (UK)
- Itron Inc. (US)
- Verizon (US)
- Telensa (England)
- ABB (Switzerland)
- Honeywell International Inc. (US)
- SAP SE (Germany
- KAPSCH Group (Austria)
- AGT International (Switzerland)
For more information about Discount on “Smart Cities Market by Smart Transportation (Type, Solutions and Services), Smart Buildings (Type, Solutions and Services), Smart Utilities (Type, Solutions and Services), Smart Citizen Services, and Region – Global Forecast to 2023” report at https://www.reportsnreports.com/contacts/discount.aspx?name=159572 .
Research Coverage:
The smart cities market has been segmented based on focus areas (smart transportation, smart buildings, smart utilities, and smart citizen services) and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the global smart cities market.
Contact:
Mr. Vishal Karla
[email protected] / Call +1 888 391 5441
Tower B5, Office 101,
Magarpatta City SEZ,
Pune-411013, India
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