Portland, OR -- (SBWIRE) -- 07/28/2017 -- The smart city management includes various solutions for energy management, transport management, security, etc. The solutions are provided with the help of integrated benefits of IT and communication technologies.

The technology solutions are becoming popular in the market due to rising concerns regarding automated management of city related activities and security. It gives competitive edge to entities involved in city management and facilitates their routine work with improved efficiency and precision. The research assists stakeholders to identify most lucrative market segments so that appropriate business plans can be formulated.

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Competitive Landscape

Companies are adopting product launch strategies to penetrate into the market. For example, Siemens AG has launched intelligent communication solutions for smart cities. Some of the companies present in the market are Siemens AG, Honeywell International, Inc., ABB LTD., Alcatel-Lucent, Accenture PLC, Cisco Systems, Hitachi Ltd., General Electric, Ericsson Inc. and Intel Corporation.

High Level Analysis

The research presents detailed analysis of the market using Porter's five forces model. Degree of bargaining power of consumers is expected to increase due to enhancements in service portfolio offerings. Threat of substitutes is low/moderate, due to absence of feasible alternative. Threat from intersegment rivalry is high due to entry of multiple strong brands in the market. Threat from bargaining power of suppliers is estimated to be low due to presence of numerous branded players. The higher investment costs and presence of branded players would limit the entry of new entrants in the market.

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SMART CITIES MARKET KEY DELIVERABLES

The smart cities market is classified according to applications and geographies.

MARKET BY APPLICATION

- Smart Homes
- Smart Buildings
- Energy Management
- Industrial Management
- Healthcare
- Transportation
- Security
- Others

MARKET BY GEOGRAPHY

- North America
- Europe
- Asia-Pacific
- LAMEA