Trending News: Smart Cities Market 2020 | Industry Trends, COVID-19 Impact Analysis, Share, Size, Demand and Future Scope

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Trending News: Smart Cities Market 2020 | Industry Trends, COVID-19 Impact Analysis, Share, Size, Demand and Future Scope

Trending News: Smart Cities Market 2020 | Industry Trends, COVID-19 Impact Analysis, Share, Size, Demand and Future Scope

The global smart cities market grew at a CAGR of 18.5% during 2014-2019.
The global smart cities market grew at a CAGR of 18.5% during 2014-2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

A smart city is an infrastructural framework based on Information and Communication Technologies (ICT) that collects data through various electronic sensors and optimizes operations to promote sustainable development in urban areas. The software component consists of mobile and web applications, while the hardware component includes sensors, chips and actuators for management and administration through digital devices. The framework of smart cities also promotes automation across healthcare, education, residential, transport, water treatment, security and energy sectors.

Market Trends

The global market is driven by the increasing adoption of artificial intelligence (AI)- and Internet of Things (IoT)-based building management systems across the globe. Technologically advanced cities are using software-based tools to ensure the comprehensive development of institutional, social, physical and economic infrastructure. Furthermore, rapid population growth, hyper-urbanization and globalization, are also providing a boost to the market growth. Other factors, including favorable government initiatives promoting sustainable lifestyles, are projected to drive the market further.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/smart-city-market

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Segmentation

Market Breakup by Focus Area:

Smart Transportation
Smart Buildings
Smart Utilities
Smart Citizen Services

Market Breakup by Smart Transportation:

Smart Ticketing
Traffic Management System
Passenger Information Management System
Freight Information System
Connected Vehicles
Others

Market Breakup by Smart Buildings:

Building Energy Optimization
Emergency Management System
Parking Management System
Others

Market Breakup by Smart Utilities :

Advanced Metering Infrastructure
Distribution Management System
Substation Automation
Others

Market Breakup by Smart Citizen Services:

Smart Education
Smart Healthcare
Smart Public Safety
Smart Street Lighting
Others

Market Breakup by Region:

Europe
North America
Asia Pacific
Middle East and Africa
Latin America

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/smart-city-market/requestsample

Some of the major players operating in the industry include:

1. ABB (NYSE: ABB)
2. Cisco Systems (NASDAQ: CSCO)
3. Alphabet (NASDAQ: GOOGL)
4. IBM (NYSE: IBM)
5. Microsoft
6. Oracle
7. Schneider Electric
8. Hitachi
9. Siemens AG
10. Huawei
11. Intel
12. GE
13. Ericsson
14. Toshiba Corporation
15. Honeywell, AT&T

About us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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