Smart Cities Market Size, Share, Trends, Growth and Forecast Till 2028
IMARC Group, a leading market research company, has recently released a report titled “Smart Cities Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart cities market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the smart cities market?
The global smart cities market size reached US$ 1,049.1
Billion in 2022. Looking forward, IMARC Group expects the market to reach US$
2,775.0 Billion by 2028, exhibiting a growth rate (CAGR) of 16.3% during
2023-2028.
What are smart cities?
A smart city utilizes information and communication
technology (ICT) to enhance operational efficiency, share data with the public
and offer an improved quality of government service and citizen welfare. The
key goal of a smart city is to optimize city functions and encourage economic
growth while also enhancing the quality of life for citizens by employing data
analysis and smart technologies.
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report: https://www.imarcgroup.com/smart-city-market/requestsample
What are the growth prospects and trends in the
smart cities industry?
The rising urbanization and steadily expanding population
base represent significant factors driving the market growth across the globe.
In addition to this, the widespread adoption of cutting-edge technologies,
including the Internet of Things (IoT), artificial intelligence (AI), big data,
data analytics, and cloud storage, is contributing to the growth of the market.
The market is also driven by the rising demand for
efficient management of resource consumption, along with the growing demand for
an environment with efficient energy utilization and increasing concerns for
public safety. Significant investments into the establishments of smart cities
from both the key private players and governments of various nations are acting
as a major growth-inducing factor. Other factors, such as rising digitization
across sectors, extensive research and development (R&D) activities and
increasing infrastructural development across both the developed and developing
economies, are creating a positive outlook for the market across the globe
further.
Who are the key players operating in the smart
cities market?
The competitive landscape of the market has been analyzed
in the smart cities market report, along with the detailed profiles of the
major players operating in the industry. Some of these players are:
- ABB Group
(NYSE: ABB)
- Cisco
Systems Inc.
- Alphabet
Inc.
- International
Business Machines (IBM) Corporation
- Microsoft
Corporation
- Oracle
Corporation
- Schneider
Electric
- Hitachi,
Ltd.
- Siemens AG
- Huawei
Technologies Co. Ltd.
- Intel
Corporation
- General
Electric (GE) Company
- Telefonaktiebolaget
L M Ericsson
- Toshiba
Corporation
- Honeywell
International Inc.
- AT&T
Communications
What is included in market segmentation?
The report has categorized the market based on smart
citizen services, focus area, smart transportation, smart buildings, smart
utilities and region.
Breakup by Smart Citizen Services:
- Smart
Education
- Smart
Healthcare
- Smart
Public Safety
- Smart
Street Lighting
- Others
Breakup by Focus Area:
- Smart
Transportation
- Smart
Buildings
- Smart
Utilities
- Smart
Citizen Services
Breakup by Smart Transportation:
- Smart
Ticketing
- Traffic
Management System
- Passenger
Information Management System
- Freight
Information System
- Connected
Vehicles
- Others
Breakup by Smart Buildings:
- Building
Energy Optimization
- Emergency
Management System
- Parking
Management System
- Others
Breakup by Smart Utilities:
- Advanced
Metering Infrastructure
- Distribution
Management System
- Substation
Automation
- Others
Regional Insights:
- Europe
- North
America
- Asia
Pacific
- Latin
America
- Middle
East and Africa
Key Highlights of The Report:
- Market
Performance (2017-2022)
- Market
Outlook (2023-2028)
- Market
Trends
- Market
Drivers and Success Factors
- SWOT Analysis
- Value
Chain Analysis
- Comprehensive
mapping of the competitive landscape
If you need specific information that is not
currently within the scope of the report, we will provide it to you as a part
of the customization.
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and industry analysis for biotechnology, advanced materials, pharmaceuticals,
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methods are at the top of the company’s expertise.
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