Global Smart Cities Market: Emerging Trends, Major Key Players IBM Corporation and Ericsson

According to the report, The global Smart Cities market size was valued at $ 663.1 Billion in 2019 and is anticipated to grow at a CAGR of 22.9% from 2020 to 2027. Governments from all across the world are helping to drive the smart city market forward. They are developing laws and regulations for adopting various smart solutions in transportation, energy, security, disaster management, crowd management, traffic control, and other areas to construct smart cities. Governments in developing countries such as China, South Korea, Dubai, India, Singapore, and Japan are devoting increased attention to smart city development. Increased government financing may be to blame for the smart city market's rapid growth.

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The latest research report published by Evolve Business Intelligence examines the impacts of numerous market aspects on the global SMART CITIES industry including a look at the current market size and forecasts for key segments and regions, the driving forces behind the market, the probable effects from key trends, how all these will affect the business plan, SWOT analysis of critical sectors for each of the key competitors, customers and more! Providing valuable data about conglomerations that are most likely going to have an impact on this industry is essential to any company who plans to properly invest for next 5 years. These findings supplement our initial quantitative study in order to facilitate any new investments or planning traits against threats in existing sectors through a strategic business plan.

Impact of COVID-19

The on-going COVID-19 pandemic has had a significant impact on the industry. Several financial impacts and disruptions have been felt over a long period of time. Our research has interviewed numerous delegates from this industry, across geographical markets to collect information that is helpful for addressing potential challenges the COVID-19 pandemic may cause going forward.
In terms of COVID 19 impact, the Smart Cities market report also includes the following data points:
• Impact of COVID-19
• Government Aids and Policies for Industry Revival
• Companies Recent Developments to Tackle Negative Impact
• Opportunity Window & Post COVID Trend

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Key Players
Some of the major Smart Cities players holding highest market share include IBM Corporation, Ericsson, Honeywell and Huawei Technologies Co Ltd.. These players use new product development as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• IBM Corporation
• Ericsson
• Honeywell
• Huawei Technologies Co Ltd.
• AT&T Inc.
• Siemens AG
• Hitachi Corporation
• Cisco Systems, Inc.
• Oracle Corporation
• Microsoft Corporation
• Schneider Electric SE

Segmental Analysis

Market Segment By Component Type with focus on market share, consumption trend, and growth rate of SMART CITIES Market:
o Hardware
o Software
o Services

Market Segment By Application Type with focus on market share, consumption trend, and growth rate of SMART CITIES Market:
o Smart Governance
o Smart Energy
o Smart Building
o Smart Utilities
o Smart Transportation
o Smart Healthcare
o Others

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Global Smart Cities Geographic Coverage:
• North America
o US
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Rest of Asia Pacific

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA

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