Smart Cities Market - Forecast(2021 - 2026)

Global Smart Cities Market size is forecast to reach $318.8 billion by 2025, estimated to grow at a CAGR of 25.29% during 2020-2025. The growing urbanization with the rapid use of technologies such as IoT, AI, 5G technology and so on are enhancing the smart cities market. Moreover, the growing use of electric cars for providing smart mobility, and the use of advanced connectivity for offering smart infrastructure are also driving the smart cities market. The growing investments by developing countries such as India, South Africa and so on for deploying smart technology are boosting the smart cities market. These significant factors are therefore, fueling the growth of smart cities market during the forecast period 2020-2025.


Report Coverage:

The report: “Smart Cities Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Smart Cities Market.

By Technologies: Open-data initiatives, Parking Apps, City Guide App, Wi-Fi, Real-time information, Crisis Response System, Sharing economy, Surveillance
By Planning & Management: Public Safety (Emergency Management, Law enforcement), Smarter Buildings, City Planning, Operations, Administration (Government, Agency) and others
By Solutions: Public Safety Solutions, Smart Building Solutions, Urban Planning Solutions, Administration Solution, Water & Energy Solutions (Energy Optimization), Transportation Solutions (Intelligent Transportation), Social Programs Solutions, Healthcare Solutions, Education Solutions (Technology solutions for the education industry) and others.
By Services: Integration and Deployment and Professional Services
By Support: Social Programs, Healthcare and Education
By Infrastructure: Water, Transportation and Energy
By Applications: Smart Education, Smart Buildings, Smart Governance, Smart Mobility, Smart Healthcare and Smart Utilities
By Functional Area: Energy and Infrastructure (Power Electronics, Renewable, Smart & Micro grid, Sub-station Automation, T&D Tech and Others), Automation & Building Control (Building Automation, Energy Management, Device Connectivity, Monitoring & Sensing, Security, Others), Government (E-Government, Open-Data, Citizen engagement, Privacy & Security and Others), Telecom (Broadband & Internet Tech, Mobile Telephony, Monitoring & Sensing, Networked IT Services, Telecom Security and others), Information Technology (IP Networks, Software, Analysis, Tech Integration, Security and others) and Others.

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina, Ecuador, Peru, Colombia, Costa Rica and others), Europe(Germany, UK, France, Italy, Spain, Russia, Netherlands, Denmark and Others), APAC(China, Japan India, South Korea, Australia, Taiwan, Malaysia and Others), and RoW (Middle east and Africa).

Inquiry Before Buying

Key Takeaways


  • In 2019, the Smart Cities market was dominated by North America owing to the rollout of 5G technology in the US for providing smart transportation and the deployment of civic connectivity infrastructure.

  • The growing urbanization and the electrification of buildings in order to reduce carbon emission are further leading to the development of smart cities market.

  • The rapid use of advanced analytical technology such as machine learning, AI, block-chain and so on for providing smart mobility and transportation to the public are enhancing the market growth.

  • The rising use of smart technologies such as IoT, AI and so on has resulted in huge data formation which is leading to rise the issues related to privacy and security. This issue is hindering public safety as it making the data vulnerable to cyber-attacks and easy for hackers to hack the data that is further hampering the market growth.

Application - Segment Analysis
Smart Mobility held the largest market share in the Smart Cities market in 2019. As cities are becoming more populous the need for smart driving is highly increasing. The growing demand for eco-friendly transport and use of vehicles in more conscientious way has enhanced the need for smart mobility. Recently, it was also predicted that the smart mobility market will be approximately $400 million by 2025, owing to the developments such as smart fuel, smart vehicles and smart transportation. Additionally, the growing need to reduce CO2 emission and fuel consumption are driving the smart mobility application, thereby surging the smart cities market. 


Geography - Segment Analysis

In 2019, North America dominated the Smart Cities market with a share of more than 49%, followed by Europe and APAC. In North America, the service providers, developers and other local authorities are widely deploying parts of the civic connectivity infrastructure that will lead to permit planning for construction. In order to offer infrastructure enhancement most of the US-based Telco carriers are working to bring 5G technology. Thus, the rollout of 5G technology in the US cities will lead to accelerate the growth of the smart cities market in this region. 

"We also publish more than 100 reports every month in “Information and CommunicationTechnology”, Go through the Domain if there are any other areas for which you would like to get a market research study."

Location: United States

Comments

Post a Comment

Popular posts from this blog

Ethylene Methyl Acrylate Market - Forecast(2021 - 2026)

Ethylene Methyl Acrylate is one of the copolymer of ethylene that is exhibiting growing prevalence in the market. The Ethylene Methyl Acrylate (EMA) is projected to reach USD 9.8 billion by 2023 at a CAGR of 6.3% during the forecast period of 2018-2023. To develop new polymeric materials for both scientific and commercial purposes, the blending of two or more different polymers is often used. One such innovation is the production of Ethylene Methyl Acrylate (EMA). Ethylene Methyl Acrylate (EMA) is anticipated to increase the demand for Ethylene Methyl Acrylate in application such as plastics, adhesives and paints & coatings.  What is Ethylene Methyl Acrylate (EMA)? Technical grade acrylic acid is the key component for producing Ethylene Methyl acrylate. Acrylic acid formulated with methanol, in a reactor in elevated temperatures with water as by product to formulate ethylene methyl acrylate. It has a high ductility among thermoplastic and it as a very low tensile strength and l...
Read more

Diethylenetriamine Market - Forecast(2021 - 2026)

Diethylenetriamine market size is forecast to reach   $250 million by 2025 , after growing at a   CAGR of 4.05% during 2020-2025 , owing to the increasing demand for diethylenetriamine as a chelating agent from various end-use industries. Diethylenetriamine is a hygroscopic liquid and an analogue of diethylene glycol. It has similar chemical behavior as ethylenediamine and has similar uses. Growing product application of diethylenetriamine as chelating agents, bleach activators, and corrosion inhibitors may boost industry size in the forecast period. Diethylenetriamine is commonly used in surfactants for their good foaming characteristics which are likely to propel the market growth. Furthermore, growing consumer awareness regarding cleanliness and hygiene has led to high demand for laundry and detergent products, which is anticipated to drive the diethylenetriamine market growth during the forecast period.  Diethylenetriamine Market Report Coverage The report: “ Diethyl...
Read more

Mining Equipment Services Market - Forecast(2021 - 2026)

Mining Equipment Services market is analysed to grow at a   CAGR of 3.4%   during the forecast period 2021-2026 to reach   $160.9 billion by 2026 . Mining equipment services market is developing rapidly due to rise in the mining exploration activities and the growing demand of raw materials due to the rising mining projects. Moreover, rapid industrialization and globalization for improving a well-functioning economy is further driving the mining equipment market. Furthermore, the deployment of innovative services and parts such as part replacement services, maintenance services, fleet services and so on further rise the market’s growth. The third-party service providers also offer   predictive   maintenance contracts that enables loss of production, reducing in downtime, also leading to reduce the cost in the research and development of equipment maintenance services and inventors. These key drivers further propel the shift of companies towards third party vend...
Read more