Global Smart Cities Market Size is Expected to Reach 252.56 Billion US$ by the End of 2025, With a CAGR of 16.53% Between 2019 and 2025 - Valuates Reports
BANGALORE, India , Nov. 11, 2019 /PRNewswire/ -- GLOBAL SMART CITIES MARKET OVERVIEW
Demand for city solutions is expected to rise due to a number of factors such as increasing urban population and the need for better management of scarce natural resources and conservation of the environment. The industry is also powered by rapid urbanization, aging infrastructure, and the adoption of new technologies, combined with the need for a better quality of life.
The market presents a variety of advantages, such as efficient mobility, enhanced buildings and homes, optimum use of energy, and better administrative services. Growing adoption of new technologies that complement future city management is also a major catalyst in the growth of the industry.
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REGION WISE MARKET ANALYSIS ON GLOBAL SMART CITIES MARKET
- Due to the significant adoption of smart cities solutions driven by high ICT spending by government organizations and high demand for connected solutions across the world, North America dominated the overall smart cities market in terms of revenue in 2017.
- APAC is expected to have the largest market share by 2023, and from 2018 to 2023, in terms of growth, it is expected to lead the smart cities market. Asia-Pacific, however, is expected to see the highest growth rate during the forecast period due to factors such as increasing IT spending supported by government initiatives in emerging economies like China, Singapore, India, and South Korea.
SEGMENTS AND CLASSIFICATION
The global smart cities market is classified into three sections based on type, application, and region.
Segments In Global Smart Cities Market Based On Region
- North America
- Europe
- China
- Rest of Asia Pacific
- Central & South America
- Middle East & Africa
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SEGMENTS IN GLOBAL SMART CITITES MARKET BASED ON TYPE
- Solution
- Services
SEGMENTS IN GLOBAL SMART CITIES MARKET BASED ON APPLICATION
- Smart security
- Smart infrastructure
- Smart energy
- Smart governance and smart education
- Smart building
- Smart healthcare
- Smart mobility
TOP COMPANIES IN THE GLOBAL SMART CITIES MARKET
- IBM
- Cisco
- Microsoft
- Oracle
- Schneider Electric
- Siemens
- Ericsson
- Hitachi
- Huawei
- Toshiba
- GE
- Honeywell
- HP
- Others
OBJECTIVES OF GLOBAL SMART CITIES MARKET REPORT:
- To study and forecast the market size of Smart Cities in the global market.
- To analyze the global key players, SWOT analysis, value, and global market share for top players.
- To define, describe, and forecast the market by type, end-use, and region.
- To analyze and compare the market status and forecast among major global regions.
- To analyze the global key region's market potential and advantage, opportunity and challenge, restraints, and risks.
- To identify significant trends and factors driving or inhibiting market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
In this study, the years considered to estimate the market size of Smart Cities are as follows:
- History Year: 2013-2017
- Base Year: 2017
- Estimated Year: 2018
- Forecast Year 2018 to 2025
For the data information by region, company type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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KEY STAKEHOLDERS
- Raw material suppliers
- Distributors/traders/wholesalers/suppliers
- Regulatory bodies, including government agencies and NGO
- Commercial research & development (R&D) institutions
- Importers and exporters
- Government organizations, research organizations, and consulting firms
- Trade associations and industry bodies
- End-user industries
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SIMILAR REPORTS :
Smart Cities Market in India:https://reports.valuates.com/market-reports/INFO-Othe-251/smart-cities-market-in-india-global-drivers-restraints-opportunities-trends-and-forecasts-up-to-2023
Smart Cities: Their Rise, Key Success Factors, and Business Opportunities: https://reports.valuates.com/market-reports/MICR-Comm-11/smart-cities-their-rise-key-success-factors-and-business-opportunities
Global market size of Internet of Things (IoT) in Smart Cities: https://reports.valuates.com/market-reports/PROF-Auto-31J149/global-internet-of-things-iot-in-smart-cities-market-report-2019-market-size-share-price-trend-and-forecast
Global market size of Smart Cities Connected City Solutions: https://reports.valuates.com/market-reports/PROF-Auto-4Z702/global-smart-cities-connected-city-solutions-market-report-2019-market-size-share-price-trend-and-forecast
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