Global Smart Cities Market Forecast to 2024; Projected to Expand at a CAGR of More Than 21%

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Jan 17, 2019, 10:30 ET

DUBLIN, Jan. 17, 2019 /PRNewswire/ --

The "Global Smart Cities Market by Component (Hardware, Software) by Application (Smart Governance, Smart Utility, Smart Infrastructure, Smart Healthcare, Smart Security & Threat, Smart Education, Smart Building) Size and Forecast 2014-2024" report has been added to ResearchAndMarkets.com's offering.

The global smart cities market is expected to reach a mark of USD 3,000 million by 2024, at a CAGR over 21% during the forecast period.

Significant growth in next-generation technologies such as artificial intelligence (AI), personalized healthcare, sustainable energy generation and robotics are driving the smart cities' future. Moreover, increase in residential preference towards adoption of advanced information and communication technologies (ICT) escalates the future market growth.

With the rise of innovation and digitalization of industry applications, particularly in the residential sector, countries across the globe are actively looking for solutions to balance economic, technological and social development. With increase in population, data is also becoming more readily available now-a-days.

Communities are turning to innovative information communication technologies (ICT) to re-imagine the way in which people of the residents live, work or play. IoT is playing a significant role in driving safer and smarter cities from changing the vision into reality.

Many new players have entered into this market along with several small and medium players. The leading players are focusing especially on technological improvements through organic and inorganic growth strategies.

Some of the major companies operating in this industry include IBM Corporation, The ADT Corporation, Cisco Systems Inc., Oracle Corporation, AT&T Inc., SAP SE, Intel Corporation, General Electric, Schneider Electric SE, and Xerox Corporation.

Key Findings

As per the research, hardware components have been the largest revenue generators in the global smart cities market, as compared to others. Also, among various types of applications, smart governance was the largest revenue contributor in 2017. Moreover, among the smart utilities category, smart energy applications is expected to continue contributing the largest revenue, during the forecast period
Europe has been the largest revenue contributor to this market. According to the research, the region is expected to lead this market over a longer period. Cities in Europe such as Italy and the U.K. have been deploying smart cities solutions from ages, which makes the region forerunner in this industry
However, the markets in Asia-Pacific, particularly cities in the Asian region are expected to witness fastest growth during the forecast period. The upsurge in urbanization, along with purposed investment in smart cities coupled with changing consumer preferences, is expected to boost the growth rate of smart cities market in the region

Topics Covered

1. Research Objective
1.1. Objective of the Study
1.2. Market Definition
1.3. Market Scope
1.4. Analysis Period of the Study
1.5. Data Reporting Unit
1.6. Key Stakeholders

2. Research Methodology
2.1. Research Methodology
2.2. Regional Split of Primary & Secondary Research
2.3. Secondary Research
2.4. Primary Research
2.3. Market Size Estimation
2.4. Assumptions for the Study
2.5. Market Breakdown and Data Triangulation

3. Executive Summary

4. Market Introduction
4.1. Introduction
4.2. Market Dynamics
4.3. Porter's Five Forces Analysis

5. Market Size and Forecast by Component (Hardware, Software)

6. Market Size and Forecast by Application (Smart Governance, Smart Utility, Smart Infrastructure, Smart Healthcare, Smart Security & Threat, Smart Education, Smart Building, Smart Transportation, Others)

7. Market Size and Forecast by Geography
7.1. North America
7.2. Europe
7.3. Asia-Pacific
7.4. Middle-East & Africa
7.5. Latin America

8. Market Competitiveness
8.1. Strategic Development
8.2. Recent Activities of Major Players

9. Company Profiles
9.1. IBM Corporation
9.2. The ADT Corporation
9.3. Cisco Systems
9.4. AT&T
9.5. SAP
9.6. Intel Corporation
9.7. Oracle Corporation
9.8. Schneider Electric
9.9. General Electric
9.10. Xerox Corporation
9.11 Automation Anywhere

10. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/research/64nr83/global_smart?w=5

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