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Global smart city market to reflect a significant CAGR of 19.08% from 2017 to 2025

This is a professional and in-depth study on the current state of the Network as a Service Market. This report studies Network as a Service market in North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).

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The smart infrastructure technology has significantly changed over time, and various disciplines such as building automation for facility and emergency response management, building energy optimization, parking management, and in-building communication systems, are now being widely adopted. Furthermore, Green building initiatives have taken up a center stage across many countries, especially across the Europe, North America, and APAC region.

Focus on reduction in energy consumption and concerns over proliferation of environmental wastes are the major driving factors for development of smart cities. Transportation is another major growing focus area during the forecast period.

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The global Smart cities market accounted for US$ 773.19 Bn in 2016 and is expected to grow at a CAGR of 19.08% during the forecast period 2017 – 2025, to account for US$ 3651.49 Bn in 2025.

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 The report focuses on an in-depth segmentation of this market based by industry verticals. The geographic segmentation of the report covers six major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA).

The regional market has been further bifurcated by respective countries. By industry vertical smart infrastructure sector accounted for the largest share of the smart cities market in 2015; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.

Table of Content

Global Smart Cities Market – Key Industry Dynamics

1 Key Market Drivers

  • Gradual Shift in Urbanization
  • Thriving Demand for Reduced Energy Consumption
  • Rise in Technological Innovations

2 Key Market Restraints

  • Lack of Standardization
  • Lack of Critical Security Aspects

3 Key Market Opportunities

  • Integration of technology with present services
  • IoT: A Revolutionary Trend

4 Future Trends

  • Application of artificial intelligence to public security
  • Enhanced Services

5 Impact Analysis

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List of Companies

ABB Ltd.

Accenture

Cisco

Ericsson

Schneider Electric

GE

Microsoft

IBM Corporation

Oracle

Siemens

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The report aims to provide an overview of global smart cities market with detailed market segmentation. Also, it analyzes the current smart cities market scenario and forecasts the market till 2025.

The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions.

The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provide PEST analysis for all regions, and SWOT analysis for all company profiled in the report.

North America is one of the prominent regions in smart cities market which will contribute highest revenue globally due to technological developments and considerable implementation of smart cities concept in different industry vertical segment. Rapidly growing economies in Asia-Pacific (APAC) with significant growth in IT sector will pave the path for increasing adoption and propel the market for smart cities.

The region is expected to lead the market with highest CAGR during the forecast period. Some of the key players of smart cities market include ABB, Accenture, Cisco, Ericsson, GE, IBM, Oracle, Microsoft, Schneider Electric and Siemens, among others.

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The Insight Partners - Market Research FirmThe Insight Partners
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