Smart City Market 2019 – Global Market Size, Share, Key Vendors, Opportunities, Geographic Market Challenges & Forecast to 2025
Sep 5, 2019
WiseGuyRerports.com Presents “Global Smart City Market Analysis & Forecast 2016 to 2022” New Document to its Studies Database
Pune, India - September 5, 2019 /MarketersMedia/ —
The advent of technology and its pervading nature have transformed the definition of luxury. That is why smart cities are gaining momentum where most of the equipment are connected via AI and IoT and the user gets a simple device to give commands to ensure performance. Smart cities are gaining momentum across the world, which is a good sign for the global smart city market.
Several factors like increasing digitalization, inclusion of AI & IoT, eco-friendly nature of projects, better investment scope, participation from major market players, and others are expected to launch the need for the global smart city market. The growing competition among various market players is also expected to provide thrust to the global smart city market.
Key Players:
Huawei Technologies Co Ltd. (China), IBM Corporation (U.S.), Cisco Systems, Inc.(U.S.), AT&T Inc. AG (U.S), Siemens AG (Germany), Oracle Corporation (U.S.) Microsoft Corporation (U.S.), Schneider Electric SE (France), Hitachi Corporation (U.S.), Ericsson (Sweden) among others.
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Segmentation:
The global smart city market can be segmented on the basis of components and application. This segmentation holds better promises for revealing insights that can be used later to increase profit margin.
Based on the components, the global smart city market can be segmented into hardware, software and service. The hardware segment is gaining much traction but the software is gaining through its increasing percolation as sensors and other software related products are getting involved in the market.
Based on the application, the smart city market can be segmented into utility, transport, government, residential, education, healthcare, and others. All these segments are expected to fetch in substantial revenue in the coming years.
Regional Analysis:
North America, South America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are five regions that have been included in the geographical study of the global smart city market. Such a study extensively covers various factors that have a strong connection with the regional prosperity.
Europe and North America are expected to score big in the global smart city market due to their extensive application of latest technologies in their construction & building sector. These two regions have high capacity to spend notably and can ensure better performance as the takers of such projects are plenty. The environmental factor is also getting a nod from regional officials. The US, the UK, France, Canada, and Germany are expected to play crucial roles in taking the regional market to better heights.
The APAC market is also expecting strong lead from various emerging nations who are spending substantially in smart city projects to bask in its profits. India, China, Thailand, Australia, and other countries are taking up these projects to ensure better performance.
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Industry News:
In August 2019, Pune Smart City Development Corporation Ltd (PSCDCL) inked a deal with Dell to establish a centre of excellence for easy access to smart solutions.
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