“Smart City” combines advanced technology with a smart environment. In smart cities, IT technology is used to develop critical infrastructure in cities, including a variety of facilities such as smart transportation, smart water, smart buildings, smart energy, smart security, smart education, and smart healthcare and smart governance. The Smart City Initiative basically plans and organizes services to increase urban sustainability and residential viability.
The Global Smart City Market is expected to grow from $ 88,303 million in 2018 to $ 506,580.1 million in 2027 with a compound annual growth rate (CAGR) of 21% over the forecast period. The adoption rate of high technology throughout the enterprise is increasing rapidly. The development of 5G and NB-IoT technology is expected to lead the growth of the smart city market. Progressive government and other areas will become highly intelligent and autonomous.
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Key Players in Global Smart Cities Market are- AT&T Intellectual Property, Cisco, CURRENT, POWERED BY GE, Hitachi Vantara Corporation, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Itron Inc., Microsoft, NEC Technologies India Private Limited, Nokia, Oracle, Rolta India Limited., Schneider Electric, Siemens, Telefonaktiebolaget LM Ericsson, TOSHIBA CORPORATION, Verizon, Vodafone Limited, amongst several others.
Smart Cities Market:
- Building and Infrastructure
- Others (Smart Manufacturing, Smart Tourism, Etc.)
- Deployment and Integration
- North America
- Asia Pacific
- Latin America
The study objectives of this research report are:
To research and forecast the market size of the Global Smart City Market.
To define, describe and forecast the market by type, end-users, and applications.
To analyze the market potential, benefits, opportunities, threats and risks.
To identify global customers and potential customers.
To identify the market projections in the coming future.
Different attributes are considered while scrutinizing this report such as production, revenue, and capacity. The notable feature of this report is, it covers trending factors which are influencing the market shares. The report provides significant information about the prominent companies such as financial overview, specification and recent developments. Finally, the research sheds light on possible strengths, weaknesses, threats, and opportunities that can affect the progress of Global Smart City Market.
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