Smart Cities Market Geographical Segmentation, Comprehensive Analysis By 2027


Posted June 22, 2020 by rohit890

A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively.

 
Market Overview

A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. This data is collected from devices, citizens, and assets, which is further processed and analyzed to manage and monitor traffic and transportation systems, water supply networks, power plants, crime detection, waste management, school, hospitals, libraries, and other community services. Smart city applications include

Smart security: Smart security solutions refer to smart protections against crime, terrorism, and civil unrest. Smart security solutions monitor the city and law enforcement activities 24x7 in public areas by analyzing patterns and tracking incidents and suspects that facilitate a quicker response.

Smart transportation: In this, intelligent transport system (ITS) technology is applied to transport and infrastructure to transfer information between systems, in order to enhance safety, productivity, and eco-friendly transportation.

The global smart cities market is accounted US$ 1069.4 Bn in terms of value in 2019.

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Market Dynamics

Penetration of digital technologies has accelerated the demand for digitization around the globe. Digitization aids in information sharing and enables connectivity between devices, which is one of the primary requirements of smart cities. Furthermore, governments of various countries are focused on launched digitized platform for e-governance. For instance, the Government of India has set up e-Governance platform under The Digital India Programme to support citizens. This platform includes features such as e-Locker, e-Office, e-Sign and mobile governance.

However, challenges associated with funding are expected to restrain growth of the global smart cities market during the forecast period.

Detailed Segmentation:

Global Smart cities Market, By Component:

Hardware

Software

Services

Global Smart cities Market, By Application:

Smart Security

Smart Building

Smart Transportation

Smart Governance

Smart Energy

Smart Healthcare

Smart Water Network System

Smart Education



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Key players involved in the global smart cities market are Microsoft Corporation, Toshiba Corporation, AT&T, Inc., SAP SE, Cisco Systems, Inc., Philips Lighting, Ericsson, Huawei Technologies Co., Ltd., Panasonic Corporation, General Electric, Oracle Corporation, Hitachi Data Systems Corporation, and IBM.

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Last Updated June 22, 2020