The latest study on the Smart Cities Market industry includes a detailed analysis of the future trends and demands for the forecast period, 2020 - 2032 The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period. The study also includes significant information pertinent to the Smart Cities Market industry, particularly the current COVID-19 scenario. Exhaustive coverage of the COVID-19 impact on the Smart Cities Market industry is a major attraction of the report.
The global smart cities market size reached USD 457.18 billion in 2021 and is expected to register a revenue CAGR of 13.9% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is attributed to rising demand for public security, as well as favorable government initiatives in various countries to develop advanced video surveillance, real-time vehicle number plate, and facial recognition solutions used for public safety in smart cities, emphasizing the importance of monitoring to ensure people's safety.
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Covid 19 impact analysis : The reort is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
Market Drivers :
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Key Points ofSmart Cities Market :
- Extensive coverage of the analysis of theSmart Cities Market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of theSmart Cities Market
- Complete data about the key manufacturers and vendors in theSmart Cities Market
Key participants include Cisco Systems, Inc., International Business Machines (IBM) Corporation, SAP, Itron Inc., Telefonaktiebolaget LM Ericsson, Schneider Electric, Siemens, Telensa Inc., Accenture, Cubic Corporation, and Kapsch TrafficCom AG.
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Emergen Research has segmented the global smart cities market based on solution type, application, and region:
- Solution Type Outlook (Revenue, USD Billion 2019-2030)
- Smart Transportation
- Smart Buildings
- Smart Utilities
- Smart Citizen Services
- Others
- Application Outlook (Revenue, USD Billion 2019-2030)
- Security
- Energy Management
- Healthcare
- Industrial Automation
- Buildings
- Transportation
- Others
Regional Analysis:
The report sheds light on the region expected to dominate theSmart Cities Market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of theSmart Cities Market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
Radical Highlights of theSmart Cities Market Report:
- Comprehensive overview of theSmart Cities Market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on theSmart Cities Market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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