Summary
The global Smart City Technologies Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Increasing urban population is expected to propel growth of the global smart city technologies market over the forecast period. For instance, according to the World Bank, the urban population in China increased from 49.22% in 2010 to 60.3% in 2019. Moreover, high number of property crimes is also expected to aid in growth of the market. For instance, according to the Federal Bureau of Investigation, there were an estimated 6,925,677 property crimes in the U.S. in 2019
Growing residential sector is expected to offer lucrative growth opportunities for players in the global smart city technologies market. For instance, according to the U.S. Census Bureau, in February 2020, there were 1,464,000, building permits, 1,599,000 housing starts, and 1,316,000, housing completions in the U.S. Moreover, increasing need for energy-efficient solutions in the residential sector is also expected to aid in growth of the market.
However, exit of major players is expected to hinder growth of the global smart city technologies market. For instance, in December 2020, Cisco Systems Inc. announced its exit on a flagship effort to help digitize the modern city.
Among regions, Asia Pacific is expected to witness significant growth in the global smart city technologies market, owing to increasing number of smart city projects in the region. For instance, in January 2021, The Korea International Cooperation Agency signed a record of discussion with the provincial government to help promote the project of creating a smart culture and tourism city for Hue, an ancient citadel located in Thua Thien-Hue Province in Vietnam.
North America is also expected to witness significant growth in the global smart city technologies market, owing to increasing investment in infrastructure. For instance, in February 2020, The U.S. Department of Transportation published a Notice of Funding Opportunity to apply for US$ 1 billion in 2020 for upgrading infrastructure across the U.S.
Key Takeaways
- Increasing urban population is expected to propel growth of the global smart city technologies market over the forecast period
- Major players operating in the global smart city technologies market are focused on adopting partnership strategies to enhance their market share. For instance, in October 2020, Bentley Systems, a provider of infrastructure & engineering software & solutions, and Microsoft Corp. announced an expansion of a strategic alliance focused on advancing infrastructure for smart city urban planning and smart construction.
- Major players operating in the global smart city technologies market include, ABB, AGT International, Cisco Systems Inc., General Electric, ENGIE Innovation, Ericsson, AT& T, Capgemini, General Electric, IBM, Intel Inc., Microsoft Corporation, and TCP Reliable
The Smart City Technologies Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Smart City Technologies Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- ABB
- AGT International
- Cisco
- GE
- ENGIE Innovation
- Ericsson
- AT& T
- Capgemini
- General Electric
- IBM
- Intel
- Microsoft
- TCP Reliable
By the Product Type, the market is primarily segmented into:
- Software
- Hardware
- Service
By Applications, the market is segmented into:
- split into
- Energy
- Water Usage
- Transportation
- Other
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Smart City Technologies Market Report:
- To assess the size of the market by value and volume
- Analyze the Smart City Technologies Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Smart City Technologies Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Smart City Technologies Market
The Smart City Technologies Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Smart City Technologies Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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