The extensive study on the Smart Cities market published by TMRR offers valuable insights related to the overall prospects of the Smart Cities market during the forecast period (2019-2029). The presented study suggests that the Smart Cities market is anticipated to reach ~US$ by the end of 2029 and grow at a CAGR of ~XX% over the assessment period. The current and future prospects of the Smart Cities market in the upcoming decade are analyzed in the presented report with utmost precision.
The Smart Cities market study is an essential source of information for the upcoming market players who are vying to establish a strong presence in the current Smart Cities market landscape.
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Smart Cities Market Segregation
competitive landscape, and a thorough forecast for the market over the years 2018 to 2028.
Global Smart Cities Market: Trends and Opportunities
In the next few years, the global smart cities market is expected to expand at a significant pace. The market will significantly benefit from the perfect combination of available technologies, support from a strengthening digital infrastructure across the globe, and increased funds being invested by governments across developed as well as developing economies into the establishment of smart cities. Rising awareness regarding the vast sets of benefits of connected cities, the increased rate of adoption of home security and safety systems, and the vast technological advancements witnessed in areas such as cloud computing, sensors, big data, and artificial intelligence in the past few years are also likely to help the market grow at a healthy pace.
Constant reductions in costs of enabling technologies, improved state of networking infrastructure in a number of emerging and less-developed economies, steady rise in the number of networking service providers in emerging economies, and rise in government initiatives aimed at promoting digitization in commercial and residential sector are also driving the market. The smart city market is increasingly spanning areas such as city traffic management, public transport, citizen information management, urban planning, utilities management, risk management, health, education, mobile payment, retail business, and tourism. More areas of application in digitally advanced ecosystems are expected to increasingly come under the umbrella of smart city in the next few years.
Global Smart Cities Market: Regional and Competitive Analysis
From a geographical standpoint, the market for smart cities in North America is presently the dominant revenue contributor to the global market. Backed by strong growth potential in the U.S., the North America smart cities market is expected to exhibit a promising CAGR over the report’s forecast period. However, the Asia Pacific market will lead in terms of untapped and new growth opportunities and emerge as one of the most lucrative regional markets in the near future. The Asia Pacific market is likely to benefit from factors such as rising awareness, large population base, increased focus of governments on bringing advancements on the technological front, and rising understanding regarding the use of complex technologies and smart electronic devices among a larger group of consumers.
The report presents an overview of the present state of vendor landscape of the global smart cities market. The report presents extensive review of some of the leading players operating in the space concerned with smart cities. Some of the leading companies operating in this sector are Schneider Electric, Huawei, Siemens AG, Cisco Systems, IBM Corporation, Oracle Corporation, Hitachi Ltd., and Toshiba Corporation.
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Key queries addressed in the report:
- How are market players expanding their regional and international market presence?
- Why is the adoption of product 1 expected to outpace that of product 2?
- What is the scope of the Smart Cities market in region 1?
- What is the most cost-effective distribution channel for market players in region 1 and region 2?
- How are market players adjusting to the fluctuating prices of raw materials?
Critical data that can be drawn from the Smart Cities market report:
- Analysis of the market structure in each regional market
- Key technological developments relevant to the Smart Cities market
- The regulatory landscape of the Smart Cities market in different geographies
- The projected growth of each Smart Cities market segment and sub-segment during the forecast period
- Sales, promotional, and distribution channels adopted by market players in the Smart Cities market
The regional assessment of the Smart Cities market throws light on the market share, size, and value of each regional market. Further, the scope of the Smart Cities market in each region is discussed in the report along with informative and easy-to-understand graphs, figures, and tables.
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