The smart city management includes various solutions for energy management, transport management, security. The solutions are provided with the help of integrated benefits of IT and communication technologies.
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The technology solutions are becoming popular in the market due to rising concerns regarding automated management of city related activities and security. It gives competitive edge to entities involved in city management and facilitates their routine work with improved efficiency and precision.
The research assists stakeholders to identify most lucrative market segments so that appropriate business plans can be formulated.
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The market growth is expected to be driven by factors such as increasing migration to urban regions and rising energy related awareness.
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The market faces limitations due to security related concerns and inadequate engagement of stakeholders. However, the market has better growth potential due to increasing adoption of automotive IT, green infrastructure,.
Smart Cities Market by Application
From applications perspectives, the market is classified according to applications such as smart homes, energy management, industrial automation, healthcare, transportation, security and others. The market is mainly driven due to smart transportation applications.
In future, smart transportation as well as energy management applications segments would continue their market growth.
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