According to the report, the said global smart cities market will rise at a phenomenal CAGR of 14.0% for the market to be valued at US$1,265.85 bn by 2019 increasing from US$506.78 bn in 2012.
Albany, NY -- (SBWIRE) -- 01/10/2018 -- The global smart cities market has observed significant growth in the past few years and is expected to continue growing at a significant rate. Continuous rise in the number of people migrating to urban areas is resulting in overpopulation in modern cities, thus, causing social, political, environmental and energy instability. This has created the need to incorporate a smart city concept to address all the arising challenges, by implementing modern infrastructure, enabling smart and intelligent solutions and technologies. As a result, the demand for smarter cities is expected to remain high in the coming years. The prospective growth of smart cities is attracting vendors throughout the value chain to invest in this sector. The problems and challenges faced by the countries globally include increasing congestion, rising pollution levels, migration of people from rural to urban areas, scarcity of resources, and increasing incidence of accidents among others in the metropolitan areas.
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The report provides thorough analysis of the global smart cities market with respect to market size and forecast for the period 2013 – 2019. The study covers regional and technological trends that are affecting the dynamics of this market. In-depth analysis of the major segments of smart cities and forecast for each segment is explained in detail. The global smart cities market is segmented by end-user applications and major geographies. The segment analysis identifies key opportunities for each application in global as well as regional markets. Porter's five forces analysis helps industry players understand the degree of competition and formulate their respective strategies.
The report profiles key industry players in the global smart cities market and highlights the key strategies adopted by them. In addition, this study covers recent developments in the smart cities market. This helps both new entrants and established players to develop their short- and long-term strategies. The report is expected to help suppliers, manufacturers, system integrators, policy-makers and the other key players to identify key opportunities in this industry.
The report assists in better understanding of the market with the help of various highlights on the competitive situation across different levels of the Porter's five forces analysis. Overall, the report provides detailed analysis of the global smart cities market, along with the forecast in terms of revenue (USD billion) for all the segments from 2013 to 2019.
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The global smart cities market is segmented into end user application segments and geographical markets as:
Smart Cities Market, by End User Application Type
Smart energy management
Smart industrial automation
Others (smart education, smart water management, so on)
Smart Cities Market, by Geography
Rest of the World