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Smart Cities Market 2018-2023 Trends and Growth Opportunities With Key Players - Cisco, Microsoft, IBM, Google, GE and ABB
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Apart from this, the rapid growth in global smart cities market is owned by increase in demand for systems that help local and national bodies in designing various public interest policies, such as implementation of public safety measures, appropriate guidelines for pollution control and public health parameters.
Geographically, Europe has been the largest smart cities market, whereas Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. The anticipated growth of the market in Asia-Pacific can be attributed to factors such as advancement in automation technologies, growing industry digitalization, rapid growth in advance software development industry and increasing adoption of data analytics services by real estate builders and improving IT infrastructure in the region.
Most of the major vendors in the global smart cities market are actively focusing on enhancing their product offerings to meet the demand for smart cities solutions. The strategic developments by major players includes advance software developments, new hardware integrations and advancement in automation technology areas.
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GLOBAL SMART CITIES MARKET SEGMENTATION -
By Component
• Hardware
• Software
By Application
• Smart Governance
• Smart Utility
• Smart Infrastructure
• Smart Healthcare
• Smart Security & Threat
• Smart Education
• Smart Building
• Smart Transportation
• Others
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