Consumer & Luxury Goods Market Research News

Research delivers insight into the smart cities market growing worth 1,201.69 billion USD by 2022

Research delivers insight into the smart cities market growing worth 1,201.69 billion USD by 2022

Smart cities market categorizes the global market by solution and services as transportation, by utilities, by citizen services & by region.

- Advertising -

The report "Smart Cities Market by Focus Areas, Transportation (Types, Solutions, Services), Utilities (Types, Solutions, Services), Buildings (Types, Solutions, Services), Citizen Services (Types), and Region - Global Forecast to 2022", The smart cities market size is expected to grow from USD 424.68 Billion in 2017 to USD 1,201.69 Billion by 2022, at a CAGR of 23.1% during the forecast period, mainly due to rapid connectivity and fast telecommunication provision; and growing demography and hyper-urbanization.

Browse 79 Market Data Tables and 67 Figures spread through 182 Pages and in-depth TOC on "Smart Cities Market by Focus Areas, Transportation (Types, Solutions, Services), Utilities (Types, Solutions, Services), Buildings (Types, Solutions, Services), Citizen Services (Types), and Region - Global Forecast to 2022"

PDF Sample Brochure

Moreover, successful implementation of smart city projects heavily depends on the technologies – data communications, cloud, mobility, and sensors that altogether form the IoT ecosystem. These technologies lay the foundation for smart city projects.

- Advertising -

Fast developments in these areas, in recent years, have enabled better connectivity of objects resulting into the complete development of smarter ecosystems.

Smart roadways has created vibrant prospects for stakeholders in the market

Intelligent Transport System (ITS) is often referred in context with the use of information and communication technologies in road transport, including infrastructure and traffic management, as well as, for interfaces with the other modes of transport. Despite the rapid technological advancements in the automobile sector and mobile devices, as well as, the emerging concept of connected vehicles, there have been no significant changes to the existing asphalt roads.

Smart distribution management is projected to showcase robust growth in the smart cities  market

The smart distribution management system in the utilities sector is governed by the efficient demand and response management (DRM). DRM allows the utility utilities sector to manage and implement Demand Response (DR) programs through a single integrated system, which can be interfaced with commercial, industrial, and residential sites.

Speak to Our Analyst

Rapidly growing urban population and governments’ large initiatives are major driving factors for smart city projects which provide significant growth opportunities for vendors in the APAC market

The APAC region is expected to provide growth opportunities to vendors over the next few years. Large working population and developing technology hubs have expanded the competitive environment in the region.

APAC has the highest deployment of the cloud-based services. The region is investing in the IT and telecommunication sector.

These developments clubbed with a growing demand from a massive and growing population enhances growth potential for the smart cities market in the region.

Key vendors in the global smart cities market profiled in the report include Huawei Investment & Holding Co., Ltd. (China), Cisco Systems (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), Schneider Electric (France), Siemens AG (Germany), Ericsson (Sweden), and Hitachi Ltd., and Toshiba Corporation (Japan).

News From

MarketsandMarkets™ - Business ResearchMarketsandMarkets™
Category: Market Research Publishers and RetailersCompany profile: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth ...