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Smart cities market trends detailed in new research report

IT Market Research

The smart cities market will be growing at a 23.1% CAGR to grab $1201.69 Billion by 2022. India will be the major demanding country globally.

In the smart cities market, the building segment is projected to be the fastest growing focus area. Among smart building by type, the residential section is expected to be the fastest growing segment.

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North America, Europe, APAC, MEA, and Latin America.

Along with the focus areas, such as smart transportation, smart utilities, and smart buildings, which are segmented further by types, solutions, and services. Whereas, the smart citizen services are segmented based on their types–smart education, smart healthcare, and security and threat management.

The increasing need for a centralized system for the controlling and monitoring of various devices, such as lighting; Heating, Ventilation, and Air Conditioning (HVAC); surveillance, and emergency response to reduce energy usages and enhance security in the building premises, is driving the market for smart cities.

Growing energy consumption and requirements to achieve optimum energy usage during peak hours; growing trends in Artificial Intelligence (AI) and Big Data analytics; and increasing demand for integrated security and safety system in enhancing public safety are expected to drive the market growth.

Access complete report  at www.rnrmarketresearch.com/smart-ci…rket-report.html

Various key smary city solution and service providers profiled in the report are as follows:

  1. IBM Corporation (US)
  2. Cisco Systems, Inc. (US)
  3. Microsoft Corporation (US)
  4. Schneider Electric SE (France)
  5. Siemens AG (Germany)
  6. Oracle Corporation (US)
  7. Huawei Investment & Holding Co. Ltd. (China)
  8. Ericsson (Sweden)
  9. Toshiba Corporation (Japan)
  10. Hitachi, Ltd. (Japan)

In the smart cities market, the building segment is projected to be the fastest growing focus area. Among smart building by type, the residential section is expected to be the fastest growing segment.

The increasing need for a centralized system for the controlling and monitoring of various devices, such as lighting; Heating, Ventilation, and Air Conditioning (HVAC); surveillance, and emergency response to reduce energy usages and enhance security in the building premises, is driving the market for smart cities.

Access complete report at www.rnrmarketresearch.com/contacts…hase?rname=80151

Europe gives a great opportunity to smart city solution vendors to develop innovative smart city solutions, particularly energy, mobility, and governance. The European Commission initiated the European Innovation Partnership (EIP) on Smart Cities and Communities in 2012.

The important targets of EIP are better public transits, more energy efficient buildings and transportation, reduced carbon emissions, and sustainable environment. Asia Pacific is projected to grow at the fastest CAGR and will dominate the market by 2022.

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