The Smart Cities market is anticipated to witness moderate revenue growth during the forecast period, owing to the Increasing transition towards urbanization, governmental initiatives, and the increasing penetration of advanced technologies such as IoT, cloud computing, big data etc.
Advancements in novel technologies such as IoT, big data, and cloud, coupled with recent government initiatives favoring smart city living are expected to usher growth in smart city market. To evaluate recent advances and their corresponding impact on market growth, Market Research Hub (MRH) has collated a new research report titled, 'Global Market Study on Smart Cities : By Component, Application and Forecast for 2018-26' to its rich database.
Strategic Partnerships Remain Critical to Spearhead Developments in Smart City Market
Service providers are heavily banking upon strategic partnerships to target new growth possibilities with the aid of technology exchange, a requisite in the development of smart city technologies. Advancements towards lighting, security, IoT enabled devices, cloud storage and smart messaging are some of the prime focal points in smart city market.
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Synchronoss Technologies Partners with AT&T for Smart City Construction
A recent report affirmed the collaboration of industry stalwarts AT&T along with Synchronoss Technologies to initiate new developments in smart cities market. Synchronos Technologies boasts of advanced cloud and IoT product portfolio which will be extensively used to aid AT &T's design imperatives concerning smart cities development.
An elaborate array of service applications such as smart messaging, cloud storage and IoT connected devices will be deployed to stimulate construction of smart cities advocating the cause of reduced resource consumption.
To accelerate new development towards smart city market, Nokia has affirmed its partnership with GE's Current to orchestrate smart city technologies in Canada. With the launch of new technological novelties and infrastructure modernization, the companies are envisaged to innovate smart city concept with the aid of GE's CityIQ platform.
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Smart Security Poised to Incur Maximum Growth in Smart City Market
Further in the report, readers are presented with detailed overview of several market segments attributed to smart city market, based on which the market is sectioned as component and application. By component smart city market is fragmented as hardware, software, and services.
Based on application smart city market is categorized as smart security, smart building, smart transportation, smart governance, smart education amongst other applications. On the basis of elaborate market segmentation readers can gain cues about the implications of market segments in spurring growth in smart city market, besides allowing readers to gain firsthand information on the segment acknowledged for bulk revenue generation in smart city market.
In addition, the report also lays down crucial details about geographical presence of smart city market based on which the market is diversified as Europe, North America, Latin America, China, Japan, Middle East and Africa, and Asia-Pacific. This section allows readers to gain insightful information on various marketing strategies implemented by core players across regions and their resultant impact on end-user response.
Competition Spectrum: Smart City Market
Based on detailed researched output readers are presented with renewed understanding about imperative marketing tactics in bolstering growth in the market besides determining their efficacies in harboring positive end-user response. Thorough analysis of these strategies allow readers to draw critical perspectives that aid enablement of core business models targeting overall growth and sustenance in smart city market.
Key players identified are, AT&T, Cisco, GE, Ericsson, SAP, Siemens AG, and Microsoft amongst others.
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