Smart Cities Market Size, Share, Analysis and Forecast 2022-27

The IMARC Group provides extensive analysis of the smart cities industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on smart cities market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

Informed covered in the report:

Historical market data from 2016-2021
CAGR of the market during the forecast period 2022-2027
Detailed information on factors that will drive market growth during the next five years
Precise estimation of the Keyword market size and its contribution to the parent market
Upcoming market trends and changes in consumer behavior
A thorough analysis of the market's competitive landscape and detailed information on key players
Comprehensive details of factors that will challenge the growth of smart meters market key players

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The global smart cities market reached a value of US$ 882.3 Billion in 2021. Smart cities are constructed using smart and intelligent technologies to improve the quality of living. These cities utilize information and communication technology (ICT) that helps to promote and deploy sustainable development in urban areas. In addition to this, it enables information sharing with the public for efficient engagement with citizens.

Smart Cities Market Trends:

The global smart cities market is primarily driven by the rising incidences of security breaches and criminal activities. This has resulted in the increasing need for monitoring residential areas in an attempt to safeguard the residents while improving emergency preparedness, which is providing an impetus to the popularity of smart cities. Along with this, continual technological advancements, such as the integration of the Internet of Things (IoT), cloud computing solutions, and user interfaces (UIs) with ICT to optimize smart city functions, are creating a positive outlook for the market. Moreover, the rising investments by numerous governing agencies across the globe for the deployment of smart devices as an essential part of infrastructural projects and the escalating demand for sustainable infrastructure are contributing to the market growth further. Looking forward, IMARC Group expects the global smart cities market to reach US$ 2,482.3 Billion by 2027, exhibiting a CAGR of 18.34% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

ABB Group (NYSE: ABB)
Cisco Systems Inc.
Alphabet Inc.
International Business Machines (IBM) Corporation
Microsoft Corporation
Oracle Corporation
Schneider Electric
Hitachi, Ltd.
Siemens AG
Huawei Technologies Co. Ltd.
Intel Corporation
General Electric (GE) Company
Telefonaktiebolaget L M Ericsson
Toshiba Corporation
Honeywell International Inc.
AT&T Communications

Market Segmentation:

Breakup by Smart Citizen Services:

Smart Education
Smart Healthcare
Smart Public Safety
Smart Street Lighting
Others

Breakup by Focus Area:

Smart Transportation
Smart Buildings
Smart Utilities
Smart Citizen Services

Breakup by Smart Transportation:

Smart Ticketing
Traffic Management System
Passenger Information Management System
Freight Information System
Connected Vehicles
Others

Breakup by Smart Buildings:

Building Energy Optimization
Emergency Management System
Parking Management System
Others

Breakup by Smart Utilities:

Advanced Metering Infrastructure
Distribution Management System
Substation Automation
Others

Regional Insights:

Europe
North America
Asia Pacific
Latin America
Middle East and Africa

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Key highlights of the report:                                                    

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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