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Global Smart Cities Market Threats, Analysis, Key Players, Growth, and Forecast 2026

Global smart cities market revenue growth driven significantly by North America market during forecast period Smart cities are an urban development of municipality to integrate information and communication technology (ICT) and Internet of Things (IoT) to increase operational efficiency, share information with public, drive economic growth and improve quality of government services and citizen welfare. Smart cities focus on development of robust and smart infrastructure, smart grid networks, advance communication systems, intelligent transportation system, and citizen safety. Various initiatives and funding by governments towards development of national infrastructure and rapid urbanization are key factors contributing towards growth of the global smart cities market. Increasing installation of smart meters provides instantaneous information on electric and gas usage is another factor attributing to growth of the global smart cities market. In addition, integration of smart meters and smart grids will help in reducing operational cost, energy management, and provide energy efficient solution. Furthermore, integration of mobile technology with cloud based Internet of Things is further expected to drive growth of the global smart cities market.  Smart security segment is expected to register a CAGR of XX% during the forecast. Moreover, concerns related to carbon footprints, traffic flow, and fuel consumption is boosting development of smart transportation services and technologies. The smart cities concept is still in the nascent stage and uses internet connection for communication and data transfer owing to which concerns related to security of personal and private information, data theft, and cyber-attacks are major factors hampering growth of the global smart cities market. In addition, smart cities require huge initial and capital investments and return on investment is long term. The global smart cities market is segmented on the basis of application, and region. North America accounts for highest share in terms of revenue, and is expected to increase at a CAGR of XX% during the forecast period. Availability of high speed networks, early adoption of Internet of Things, and huge investments by governments in this region are major factors contributing to rapid growth of the market. Asia Pacific is expected to witness relatively high growth during the forecast period owing to rapid urbanization and increasing investments in IT and telecommunication sector. Global smart cities market segmentation by application:
  • Smart security
  • Smart infrastructure
  • Smart energy
  • Smart governance and smart education
  • Smart building
  • Smart healthcare
  • Smart mobility
Global smart cities market segmentation by region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key players profiled in the global smart cities market report:
  • Huawei Investment & Holding Co
  • Cisco systems
  • General Electric Company
  • IBM Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Schneider Electric
  • Ericsson, Siemens AG
  • Hitachi Ltd.
 
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About this Report
Report ID 148419
Category
  • Construction
Published on Upcoming
Number of Pages NA
Publisher Name Prudour
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