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New report shares details about the smart cities market forecast to 2022

The global Smart Cities market is valued at XX million USD in 2016 and is expected to reach XX million USD by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

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The Smart Cities market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Smart Cities market by product and Application/end industries.

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The main components of a smart city consist of building, transportation, energy, healthcare, education, security, water network system and governance. There is a huge investment potential in these sectors in order to enable them to be smart and people centric.

Billions of dollars are going to be spent in these and other sectors in order to make any city smart.

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Persistence Market Research in this report has quantified the region wise investment potential in the smart city arena.

In the sections below, we shall take a sneak preview of the sectors that are going to power the global smart cities market.

The major players in global market include 
IBM
Cisco
Schneider electric
Siemens
Microsoft
Hitachi
Huawei
Ericsson
Toshiba
Urban.Us
Enevo
Oracle
Hewlett Packard Enterprise
Zerocycle
MuniRent
TransitScreen
Milieu
Ayyeka
Connecthings
GE Power

Key takeaways of the application segment of the global smart cities market

  • High growth rate is expected in the first half of the assessment period due to major investments being made by governments in various smart cities technologies
  • The first half of the forecast period will witness installation of a large number of smart cities solutions across all the regions, thereby leading to a high growth rate
  • Smart energy segment accounted for the largest revenue share and was valued in excess of US$ 100 Bn in 2015. However, the smart security segment is expected to overtake this segment by 2026 end, accounting for 4% of the global revenue share
  • Deployment of a large number of smart grid technologies across various countries such as China, Germany, India and Spain is a major factor responsible for the dominance of the smart energy segment during the first half of the forecast period
  • Adoption of smart security technologies such as network security systems, cyber security systems, IP surveillance cameras, and wireless alarms for public safety is expected to drive growth of the smart security segment over the forecast period

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