The global smart cities market to grow US$ 3,482.2 Bn by 2026.
Albany, NY -- (SBWIRE) -- 01/17/2018 -- A new insightful study offering insights on smart cities titled "Global Market Study on Smart Cities: Increasing Awareness and Adoption of Home Safety and Security Systems Boosting Market Growth of Smart Security Application Segment" has recently been submitted to the vast database of Market Research Reports Search Engine (MRRSE). The report studies the global smart cities market and analyzes past trends and forecasts the market from 2016 to 2026.
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According to the report, the global market of smart cities has been estimated to generate a value of nearly US$ 3,482.2 Mn by 2026 with 18.8% robust CAGR during the assessment period. The exhaustive report begins with executive summary providing key details on the global market of smart cities such as market share and CAGR. The market overview section provides basic information related to the market and also covers various market aspects including market dynamics, smart cities ecosystem, historical assessment and forecast of global market of smart cities in terms of year-on-year growth projections and absolute $ opportunity from 2016 to 2026. In the market dynamics section, the report examines the factors driving and restraining the growth of the global smart cities market. According to the report, major investments by government is one of the key factor driving the growth of the global smart cities market. The report finds huge investments potential in the global market of smart cities to make the functioning and governance of a city, people centric enabling them to participate in the key decisions.
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The informative report on global smart cities market has been divided into various segments that are application, component and region. These segments are further been divided into sub-segments for in-depth analysis of global smart cities market. The application segment is sub-segmented into smart security, smart building, smart transportation, smart governance, smart energy, smart healthcare, smart water network system and smart education. According to the report, the smart energy segment is estimated to generate revenue of worth US$ 545 Mn by 2026 with a robust CAGR of 16.7% during assessment period.
Apart from above, the report also discusses competition landscape in the global market of smart cities and profiles some of the key players operating in this sector. Some of the companies are AT&T, Inc., Ericsson, Hitachi Data Systems Corporation, IBM, Toshiba Corporation, Microsoft, Cisco Systems, Inc., General Electric, Panasonic Corporation, SAP SE and Oracle Corporation.
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