Smart Cities Market Is Booming Worldwide| Cisco Systems, IBM, Siemens AG, Schneider Electric and Others.

Press Release

A fresh research report titled “Smart Cities Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 255 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. An exclusive data offered in this report is collected by research and industry experts team.

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Major Vendors profiled in the Smart Cities Market include are Cisco Systems (US), IBM (US), Siemens AG (Germany), Schneider Electric (France), Ericsson (Sweden), Vodafone (UK), Itron Inc. (US), Verizon (US), Telensa (England), ABB (Switzerland), Honeywell International Inc.(US), SAP SE (Germany), KAPSCH Group (Austria), AGT International (Switzerland).

The Global Smart Cities Market size is expected to grow from US$ 308.0 Billion in 2018 to US$ 717.2 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period. This report spread across 255 pages, profiling 26 companies and supported with 105 tables and 113 figures are now available in this research.

The Smart Citizen services segment is expected to account for the highest market share during the forecast period. Under smart citizen services, the smart healthcare segment is expected to hold the highest CAGR during the forecast period. Currently, smart/connected medical devices are driving traffic over the internet across regions.

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The Rising demand for real-time transit information solutions for passengers, increasing adoption of smart phones, rising penetration of IoT solutions in the transportation sector have boosted the adoption of the passenger information management system for providing easy transport access to citizens.

APAC is expected to hold the highest CAGR among all regions, owing to the increasing adoption rate of IoT and rising demand for intelligent and smart solutions, while North America is expected to be the major contributor to the smart cities market. The increasing citizen empowerment and engagement is the major growth factor expected to drive the growth of the smart cities market.

Breakdown of primary participants’ profile:

  • By Company: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
  • By Designation: C-Level – 65% and Director Level – 35%
  • By Region: North America – 30%, Europe – 35%, APAC – 25%, and RoW–10%

Study Objectives:

  • To analyse the opportunities in the market for stakeholders and provide the competitive landscape of the market
  • To forecast the revenue of the market’s segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA)
  • To profile the key players and comprehensively analyze their recent developments and positioning in the smart cities market
  • To define, describe, and forecast the global smart cities market by focus area (smart transportation, smart buildings, smart utilities, and smart citizen services) and region.
  • To provide detailed information about the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
  • To analyse the market’s subsegments with respect to the individual growth trends, prospects, and contributions to the total market
  • To analyse the competitive developments, such as mergers and acquisitions, new product developments, and R&D activities, in the market

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