Smart City Framework Market size and Key Trends in terms of volume and value 2018-2028
As the technology used in various industries is changing, initiatives have been undertaken in several countries to manage cities and incorporate smart city framework. Smart city framework projects are adopted in several regions, such as North America, SEA & Others of APAC and several others. Smart city framework initiatives aim at addressing environmental concerns such as climate change as well as different types of pollutions such as air, water and noise. Sanitation can also be improved with smart city framework technology, for instance, the usage of Internet-connected trash can systems for waste collection & removal, the usage of sensors to measure water parameters and the availability of good-quality drinking water with proper wastewater removal & drainage systems. The smart city framework uses the concept of Information and Communication Technology (ICT) networks and Internet of Things (IoT), which enables the development of a distributed framework for the discovery and processing of large-scale real-time IoT and relevant social data streams. The smart city framework also focuses on the integration of Internet of Things (IoT) data streams and provides & analyses mechanisms to aggregate and create a high level of abstractions from multimodal streaming data. The smart city framework is expected to be used by different groups of people who act in different roles.
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Smart city framework is expected to help manage existing infrastructure and assist in the development of new infrastructure. Smart city framework offers efficient services to citizens of different countries by providing a systematic workflow. Smart city framework also enables the private and public sectors to develop new and innovative businesses.
Smart City Framework Market: Drivers and Challenges
The growth of the global smart city framework market is expected to be driven by the rising demand for cutting operational cost and improvements in profitability in multiple sectors. At present, the smart city framework market is experiencing noteworthy developments that are driven by various smart city framework developers catering to different industries. Vendors of smart city framework, such as AWS and Cisco, are currently working on developing smart city framework technologies. These companies are focusing on developing and manufacturing innovative products and framework systems to enhance the quality as well as to save the time of stakeholders.
The challenges faced by the smart city framework market are increasing following the boom in smart city projects in most of the countries. Challenges, such as population growth, economic development and social progress, are hindering the growth of the smart city framework market. The main challenges that cities face lie in the smart governance action field, which are related to the urgent need for a change of government model in different regions such as Latin America and MEA.
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Smart City Framework Market: Segmentation
The global smart city framework market has been segmented based on deployment, application and region.
Segmentation of the smart city framework market on the basis of type:
Segmentation of the smart city framework market on the basis of application:
Smart City Framework Market: Competition Landscape
Examples of some of the key participants identified across the value chain the global smart city framework market include Aeris; Cisco; Ayla Networks Inc.; Confidex Ltd.; Sensormatic Electronics, LLC.; Changing Environments, Inc.; Xaqt Inc. and Amazon Web Services (AWS).
Smart City Framework Market: Regional Overview
On the basis of geography, the North American smart city framework market is expected to capture the largest share in the smart city framework market owing to the presence of well-developed smart city framework developing vendors. Europe and Japan are also expected to gain a substantial share in the smart city framework market due to the introduction of new technologies and applications. APAC is expected to be the fast-growing smart city framework market owing to government initiatives for the improvement of technologies by emerging economies such as India and China.
The smart city framework market in Latin America and MEA is expected to witness high growth rate in the coming years due to an increase in the demand for smart city projects.
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