Albany, NY -- (SBWIRE) -- 09/25/2018 -- Increasing preference for enhanced livability and sustainability of cities, though the addition of technological and environmentally friendly innovations is the primary driving factor behind the growth of the smart cities market. Revenue earned from the smart cities market are estimated to grow at a massive CAGR of 19.8% through 2026. These insights have been gleaned from the report titled "Global Market Study on Smart Cities: Smart Security Application to Witness Fastest Growth During 2018 – 2026" added recently to the huge repository of Market Research Reports Search Engine (MRRSE).

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Smart security for the establishment of smart city environment is expected to grow at a relatively fast rate, in comparison to smart building, smart transportation, smart governance, smart energy, smart healthcare, smart water network system, and smart education. This is owing to rapid innovations in information technology, internet of things, big data, cloud computing, and government initiatives that support the same. In the Asia Pacific region, China is expected to show the highest rate of growth in the global smart cities market owing to the rapid, ever-increasing initiations of smart city projects and government initiatives.

Key players in the smart cities market are focusing on acquisition strategies in order to gain larger competitive advantages. Some of the important market participants that are analyzed in this report are Huawei Technologies Co. Ltd, International Business Machines (IBM) Corporation, Microsoft, Oracle Corporation, and Ericsson.

Smart Cities Market: Report Summary

This report provides a detailed regional and global level analysis & forecast on the smart cities market, in terms of value (US$ Bn), for the period of forecast 2017 to 2026. The impact of crucial business dynamics such as political, social, economic and legal factors on the market scenario for smart cities have been highlighted and thoroughly examined in the report.

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An end-to-end value chain analysis on the smart cities market has been provided in the report, and a complete profiling of market players is used to help in improved understanding of the competitive scenario including market positioning, SWOT analysis and business strategies.

Smart cities Market: Research Methodology

Elaborate discussions, and in-depth interviews, and expert panel reviews with the top industry specialists and opinion leaders were examined during the compilation of this report. Comprehensive primary and secondary research methodologies such as telephonic interviews, e-mail interactions, and face-to-face interviews, have helped in the extraction of reliable and relevant data on the smart cities market. Primary research represents the major portion of the research efforts, which has been supported and validated with exhaustive secondary research.

Leaders and new players in the smart cities market have been studied and relevant press releases, annual reports, and vital documents have been analyzed in order to identify and extract accurate insights on competitor landscape and the market scenario. This approach employed in the report has been tested and proven to be highly reliable and successful in obtaining actionable insights to identifying business opportunities, and extracting active intelligence on key market players.

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