Global Smart City with Five forces analysis (grow at a CAGR of 19.65%)

The report also segments the market based on geography into the Americas; Asia Pacific (APAC); and Europe, Middle East, and Africa (EMEA). Among them, Europe is slated is see impressive market growth, followed by APAC. The report describes the growth drivers of the market. Technological advancement in the field of cloud, IoT, mobility, and sensors is one of them. Besides, speedy urbanization resulting from population pressure, government initiatives, concerns over reckless energy consumption, and decrease in operational cost for smart building infrastructures in capacity expansion are also leading to growth in the market.

The factors hobbling the market for smart city are operational inefficiency due to corruption, money constraints and unhelpful policies in emerging economies and absence or lack of robust telecom and networking infrastructures. Having described the opportunities and problems of the global smart city market, the report goes on to describe the prominent players in the market, namely Ericsson, Google, ABB, Siemens, GE and IBM.

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