What is Smart Cities?
A smart city is a municipality that uses information and communication technologies to enhance the quality and performance of urban services such as energy, transportation and utilities in order to reduce resource consumption, wastage and overall costs. It involves the use of electronic Internet of Things (IoT) sensors to collect data and then it is used to manage assets, resources and services efficiently. The smart city involves technology-based infrastructure, environmental initiatives, high functioning public transportation system and other characteristics.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Cisco Systems (United States), IBM (United States), Siemens AG (Germany), Schneider Electric (France), Ericsson (Sweden), Vodafone (UK), Itron Inc. (United States), Verizon (United States), Telensa (England), ABB (Switzerland), Honeywell International Inc. (United States), SAP SE (Germany), KAPSCH Group (Austria) and AGT International (Switzerland) |
CAGR | % |
The market study is broken down by Type (Smart Transportation, Smart Buildings, Smart Utilities and Smart Citizen Services) and major geographies with country level break-up.
Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global Smart Cities market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cisco Systems (United States), IBM (United States), Siemens AG (Germany), Schneider Electric (France), Ericsson (Sweden), Vodafone (UK), Itron Inc. (United States), Verizon (United States), Telensa (England), ABB (Switzerland), Honeywell International Inc. (United States), SAP SE (Germany), KAPSCH Group (Austria) and AGT International (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Accenture, Cisco Systems Inc., Ericsson Ab, Fujitsu, General Electric, Hitachi, Hewlett-Packard, Huawei Technologies Co. Ltd., IBM, Intel, Microsoft, Nokia, Oracle, Sap, Schneider Electric, Siemens, Toshiba, Abb Tropos, AGT International, Arup, At&T, Autodesk Inc., Orange Group, Sensus, Silver Spring Networks, Telefonica, Trilliant, Urbiotica and Verizon.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Smart Cities market by Type, Application and Region.
On the basis of geography, the market of Smart Cities has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Hardware will boost the Smart Cities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Application Programming Interfaces (APIs) will boost the Smart Cities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- Rising Adoption of Artificial Intelligence (AI) and Internet of Things (IoT)
Market Drivers
- Government Initiatives for Smart City Programs
- Growing Need for Public and Communications Infrastructure
Opportunities
- Rapidly Growing Urban Population
- Rise in the IoT market and Its Applications in Smart Cities
Restraints
- Privacy and Security Concerns Related to Smart Devices
Challenges
- Lack of Funding and Adequate Infrastructure
Key Target Audience
Government Agencies, Research Professionals, Emerging Companies, Government Body & Associations and End user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.