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Smart Cities Market Overview Analysis, Trends, Share, Size, Type & Future Forecast to 2030
Smart Cities Market
The market for smart cities is expanding as a result of factors such increasing urbanisation, rising demand for cutting-edge technologies like IoT and 5G, and government measures to upgrade the country's digital infrastructure. As digital technology becomes more widely used, it facilitates, integrates, and powers the development of smart cities.
A smart city is an urban area where various electrical devices and sensors are used to gather data. To improve the efficiency of municipal operations and services, the notion of a "smart city" combines information and communication technology with a variety of physical devices connected to Internet of Things networks.
The growing need for smart living, which has become popular, is largely to blame for the concept of smart cities obtaining significant commercial importance. Smart living refers to developments that affect people's lives and give them access to new modes of living.
The creation of "smart cities" promotes the use of cutting-edge technologies like the Internet of Things (IoT), Artificial Intelligence (AI), big data, cloud storage, and data analytics to gather and analyse data and use critical information for managing resources and services.
A smart city is a framework for deploying, fostering, and promoting sustainable urban development that makes use of information and communication technology (ICT). Additionally, it aids in public information dissemination, increases operational effectiveness, and raises the standard of citizen welfare. A smart city promotes mixed-land use for unplanned areas, which offers a variety of facilities at one location and helps in the best utilisation of the available space. It does this by relying on both software solutions and hardware elements, such as chips, sensors, and actuators, as well as communication networks, the Internet of Things (IoT), and user interfaces (UIs). These solutions collect data that is analysed to keep an eye on power plants, the water supply, spot criminal activity, control waste, and provide various other municipal services.
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Smart cities are ones that were constructed using innovative technologies and smart, intelligent solutions. Adopting smart criteria like smart energy, smart buildings, smart transportation, smart healthcare, smart governance, smart education, and involving smart residents all help smart cities achieve their objectives. Additionally, the market for smart cities is expanding significantly on a worldwide scale as a result of considerable investments made by public and private entities, including the governments of numerous nations throughout the world. Solutions for smart cities can also be categorised as a combination of hardware and software elements. Sensors, chips, and actuators make up the majority of the hardware components, while a variety of smart applications like infrastructure management and utility management make up the software component.
Global Smart Cities Market- Segmentation
The global smart cities market is been segmented by application, by smart governance, by smart utilities and by smart transportation.
By Application
• Smart Governance
• Smart Building
• Environmental Solution
• Smart Utilities
• Smart Transportation
• Smart Healthcare
By Smart Governance
• City Surveillance
• CCS
• E-governance
• Smart Lighting
• Smart Infrastructure
By Smart Utilities
• Energy Management
• Water Management
• Waste Management
By Smart Transportation
• Intelligent Transportation System
• Parking Management
• Smart Ticketing & Travel Assistance
Global Smart Cities Market - Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Smart Cities Market - Key Market players
ABB Limited; AGT International; AVEVA Group plc.; Cisco Systems, Inc.; Ericsson; General Electric; Honeywell International Inc.; International Business Machines Corporation; Itron Inc.; KAPSCH Group; Huawei Technologies Co., Ltd.; Microsoft Corporation; Oracle Corporation; Osram Gmbh; SAP SE; Schneider Electric SE; Siemens AG; Telensa; Verizon; Vodafone Group plc are the major players that are driving the growth of the market during the forecast period.
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Key Questions Answered in This Report:
• How has the global smart cities market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global smart cities industry?
• What are the key regional markets in the global smart cities industry?
• What is the breakup of the market based on the focus area?
• What is the breakup of the market based on the smart transportation?
• What is the breakup of the market based on the smart building?
• What is the breakup of the market based on the smart utilities?
• What is the breakup of the market based on the smart citizen service?
• What are the various stages in the value chain of the global smart cities industry?
• What are the key driving factors and challenges in the global smart cities industry?
• What is the structure of the global smart cities industry and who are the key players?
• What is the degree of competition in the global smart cities industry?
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About We Market Research
We Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. We Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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