The latest research report by Emergen Research, named ‘Global Smart Cities Market – Forecast to 2032 ’, entails a comprehensive review of the global Smart Cities Market present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe.
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. Increasing energy usage results in higher energy dissipation and carbon emissions, highlighting the need for more sustainable and efficient energy consumption. Concerns about global warming and ozone depletion have prompted increased government attempts to reduce the country’s carbon footprint. Furthermore, tougher emission-control rules in both developed and emerging countries are expected to support revenue growth of the market.
- growing government initiatives and Public-Private Partnership (PPP) models for smart transportation, Internet of Things (IoT) usage, and automation are driving market revenue growth. Rising analytics penetration and ongoing technological advancements by leading players are improving consumer experience and driving market revenue growth. Smart transportation is becoming a reality owing to technological innovations in transportation, an increase in demand for autonomous cars, and development of linked cards. In addition, as urbanization increases, governments across the globe are attempting to modernize railways by focusing on the creation of smart cities. The growing desire for city metros and ultrafast trains for long-distance transport is driving the demand for smart railroads. Significant development in construction projects is driving the logistics sector for timely transit of freight commodities. As a result, technologically advanced cargo trains are in high demand for goods transportation and logistics, which is expected to drive market revenue growth. However, the initial cost of deploying smart solutions is considerably high, and the absence of defined policies is impeding their acceptance, hence restraining market revenue growth.
Major Leading Players 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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key driver of the Smart Cities Market :
The growing awareness about the disease among healthcare professionals and patients. As the diagnosis and treatment of Oncolytic Virus Therapy can be challenging, early detection and prompt management are crucial for improving patient outcomes. This has led to an increased focus on research and development activities aimed at developing more effective diagnostic and therapeutic options for the disease.
Global Smart Cities Market Segmentation by Type:
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
· Application Outlook (Revenue, USD Billion 2019-2030)
- Energy Management
- Industrial Automation
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The global Smart Cities Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Smart Cities Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Elucidating the competitive landscape of the Global Smart Cities Market :
The global Smart Cities Market report offers viable insights into the competitive spectrum of the Smart Cities Market business sphere.
The report systematically profiles the company information of each market player.
It identifies the estimated industry share, production facilities, development prospects, and geographies served by each market player.
The study showcases the extensive product portfolios of the prominent market contenders.
It offers critical data & information about the product application scope and the end-user landscape.
The study provides salient information about the pricing models of the products offered by these companies. Moreover, it determines the gross profits and losses experienced by them throughout their market tenures.
The Global Smart Cities Market is formulated through extensive primary and secondary research, which is further validated and verified by industry experts and professionals. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. Moreover, the report also offers a feasibility study and investment return analysis to assist the readers in making strategic investment plans
The latest research report serves as a perfect example of the precise analysis of the global Smart Cities Market . It includes the ToC, list of tables and figures, research methodology, geographic segmentation, competitive landscape, future developments, and technological innovation. Moreover, the report offers the latest coverage of the massive impact of the COVID-19 pandemic on the worldwide Smart Cities Market industry.
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.With market-leading insights and an in-depth understanding of leading and niche technologies, our solutions address the most pertinent questions for your business needs. A major technological shift has been witnessed towards creating a ‘Circular Economy,’ fuelled by factors, such as the increased adoption of bio-based materials, along with other methods for achieving carbon neutrality. We are conversant in technologies, viz., Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), Robotic Process Automation (RPA), Smart Manufacturing, Internet of Things (IoT), Big Data Analytics, Machine learning, Nanotechnology, Edge Computing, Blockchain Technology, Cloud Computing, Vehicle Electrification, Advanced Maintenance Analytics, and Predictive Maintenance, among other prevalent and emergent technologies.
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