Press release
Smart Cities Market 2023 - By Size, Industry Analysis, Technological Development And Outlook 2032
Smart Cities Market
Smart Cities Market Size, Growth Rate, And Forecast
The global smart cities market size grew from $562.25 billion in 2022 to $678.07 billion in 2023 at a compound annual growth rate (CAGR) of 20.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart cities market size is expected to grow to $1,460.93 billion in 2027 at a CAGR of 21.2%.
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Smart Cities Market Drivers
The rising urbanization all over the globe is expected to drive the growth of the smart cities market going forward. Urbanization refers to the population movement from rural to an urban setting and increasing human population densities in urban areas. A smart city is a technologically advanced urban area that gathers information using various electronic technologies, voice activation methods, and sensors.
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Smart Cities Market Segments
• By Component: Solutions, Services
• By Type: Roadways, Railways, Airways
• By Application: Smart Governance, Smart Building, Smart Utilities, Smart Transportation, Smart Healthcare, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Smart Cities market.
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Smart Cities Market Key Players
Major competitors in the Smart Cities market include Siemens, Cisco, Hitachi, IBM Corporation, Microsoft, Schneider Electric, Huawei, Intel, ABB, Ericsson, Itron, Oracle.
The Business Research Company's "Global Smart Cities Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Smart Cities Market Include:
1. Executive Summary
2. Smart Cities Market Characteristics
3. Smart Cities Market Trends And Strategies
4. Smart Cities Market - Macro Economic Scenario
5. Smart Cities Market Size And Growth
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26. Africa Smart Cities Market
27. Smart Cities Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Cities Market
29. Smart Cities Market Future Outlook and Potential Analysis
30. Appendix
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