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Product Overview
Smart City is a well-connected city that uses diverse ICTs t- access information with the public and enhance both public and citizen welfare programs. In past years, this technique has been increasingly used t- enhance public safety from the tracking of high crime rates t- better preparedness for emergencies with sensors and much more. Intelligent living includes advances that impact the lives of people and allow them t- live in a different way. It includes innovative solutions t- improve efficiency, control, economy, productivity, integration, and sustainability.
Market Highlights
Global Smart Cities market is expected t- project a notable CAGR of 19.24% in 2030.
Global Smart Cities Market t- surpass USD 1852.93 billion by 2030 from USD 521.16 billion in 2020 at a CAGR of 19.24% in the coming years, i.e., 2021-30. Due t- surging demand for public safety, rapid urbanization, and growing governmental initiatives, the Smart Cities market is projected t- expand. Smart cities are commonly used t- protect public safety in technologies like vide- monitoring, DNA phenotyping, real-time licensing plates, as well as face detection, which indicate the need for monitoring t- guarantee citizen safety. The intelligent transport component is expected t- be the largest market segment in 2020 and is anticipated t- grow during the forecast period at a remarkable CAGR.
Global Smart Cities Market: Segments
Services deployment and integration segment t- grow with the highest CAGR during 2020-30
Global Smart cities market is segmented by Service building Type int- Type, Solutions, and Services deployment and integration. It may be difficult for organizations lacking qualified staff t- execute new advanced intelligent building systems. It can als- be a challenge t- integrate new smart building solutions with existing IT infrastructure. Smart construction solutions can be highly valuable for the implementation of deployed and integrated services in such cases.
Demand response management segment t- grow with the highest CAGR during 2020-30
Global Smart Cities Market is divided by Smart utilities int- Public Safety, Smart Healthcare, Smart Education, Smart Street Lighting, e-Governance. Efficient demand response management governs the distribution management system in the utility sector (DRM). DRM enables the utility sectors t- manage and execute DR programs using a single integrated system interfacing commercial, industrial and domestic sites. DRM is one of the most critical tools for managing high loads and has a significant ability t- lessen energy supply and demand disparity.
Global Smart Cities Market Dynamics
Drivers
Increasing need for public infrastructure security and communication
The success of smart city initiatives depends in large part on both telecommunications infrastructure and its public safety use. Every city must enhance the development and accessibility of communication platforms in order t- realize the concept of intelligent cities openly and efficiently. The key component for all cities t- become "intelligent" is access t- modern, basic data communications infrastructure. For example, for those cities, fixed networks, mobile networks, and specialized IoT networks are crucial.
Growing Urban population
As the demography and urbanization increase, demand for sustainable infrastructure has become a major driver for growing market. Governments around the world are looking t- resolve problems caused by the constantly rising population and urbanization through clever urban initiatives in areas such as mobility, utility management, and security. In addition, increased traffic overcrowding and greenhouse gas emissions are driving intelligent mobility and energy efficiency.
Restraint
Vulnerability t- threat-related t- IoT
In intelligent city projects, safety and confidentiality is a key area of concern. The susceptibility of the entire ecosystem is high because the ecosystems of intelligent cities rely heavily on IoT and vital access points for various data. Stakeholders, security professionals, and intelligent city planners must tackle problems holistically t- ensure that the challenges are not continued t- plague the rest of the intelligent network t- handle the privacy and security problems in smart cities.
Global Smart Cities Market: Key Players
Cisc- Systems (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Ericsson (Sweden)
ABB (Switzerland)
AGT International (Switzerland)
KAPSCH Group (Austria)
IBM (US)
Vodafone (UK)
Honeywell International Inc. (US)
Telensa (England)
Schneider Electric (France)
Siemens AG (Germany)
Other Prominent Players
Global Smart Cities Market: Regions
Global Smart cities market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Smart cities in Asia Pacific held the largest market share of XX.X% in the year 2020. Due t- the increased request for smart solutions for power management, network maintenance, and transport, the Asia-Pacific region is estimated t- be the fastest booming demand in the forecast time. The need t- deliver intelligent solutions for urban areas in order t- provide facilities for the rapidly growing population will als- be favorably affected by increasing migration t- cities.
Global Smart Cities Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Smart Cities Market report als- contains analysis on:
Smart Cities Market Segments:
By Service building Type
Type
Solutions
Services deployment and integration
By Smart utilities
Public Safety
Smart Healthcare
Smart Education
Smart Street Lighting
e-Governance
Smart cities market Dynamics
Smart cities market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
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