Global Smart City ICT Infrastructure Market Anticipated to Gain Rapid Growth by 2021 Due to Rising Partnership among Countries

From Smart homes, offices, workplaces, now the focus has shifted to having smart cities. In recent times, the increase in urbanization has led to the increasing living standards, which in turn, raised the demand for efficient ICT infrastructure and planning. A smart city uses information and communication technologies (ICT) to enhance the security, provide efficient transport, optimize utility delivery, have central command and governance, robust sanitation and health care system. According to the latest study findings, the increasing partnership among countries to promote smart cities will be one of the latest trends that will gain traction in the smart city ICT infrastructure market. To explore various positive facets of the market, analysts have prepared a study titled “Global Smart City ICT Infrastructure Market 2017-2021”, which has been freshly published to the online repository of Market Research Hub (MRH). This study provides comprehensive information on the current as well as future prospects of the market. Through this study, the research analyzes that how the market performed over the last five years and forecasts market growth until the end of 2021.

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Smart city projects require the installation of millions of devices, machines, and sensors. For all the above components to work, ICT plays an important role in making it possible. It has been analyzed that the smart city has undergone development projects to integrate information and communication technology (ICT) and Internet of Things (IoT) in a secure system to manage the assets of cities such as libraries, schools, transportation systems, hospitals, power plants, water supply networks, waste management, and law enforcement. The rise in such projects will improve the development of smart cities, which will subsequently boost the market’s growth prospects. Recently, Kuwait announced an agreement with South Korea to build a USD 4 billion smart city in Kuwait.

The above findings of the report have been presented in a vital section, which majorly focuses on the major factors and trends driving the growth of the market. Geographically, the global market has been analyzed with a prime focus on key regions such as APAC, EMEA, Europe and Americas. Key findings of the study reveal that the global smart city ICT infrastructure market will grow rapidly at an impressive CAGR of 17.44% during the forecast period of 2017-2021. Some of the major market trends identified by the report include partnership among countries to develop smart cities, growing need for interoperability standards, increasing use of IoT and emergence of smart devices.

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Moreover, the global smart city ICT infrastructure market has been segmented by components, which covers Smart grid, Smart home and building, Smart education, Smart healthcare, transport, water network and security. This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market till 2021.
The next section of the report provides a detailed competitive scenario of the market by highlighting the leading vendors in the market, which include Cisco Systems, Huawei, China Mobile, IBM, NTT Communications, Vodafone, Oracle, Verizon Communications, Honeywell International, AT&T, Siemens, ABB and Hitachi.

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