Smart Cities Market Analysis and Forecast 2022-2027 The IMARC Group provides extensive analysis of the smart cities industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on smart cities market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
Informed covered in the report:
- Historical market data from 2016-2021
- CAGR of the market during the forecast period 2022-2027
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the Keyword market size and its contribution to the parent market
- Upcoming market trends and changes in consumer behavior
- A thorough analysis of the market’s competitive landscape and detailed information on key players
- Comprehensive details of factors that will challenge the growth of smart meters market key players
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The global smart cities market reached a value of US$ 882.3 Billion in 2021. A smart city is an infrastructural solution that utilizes software, user interfaces, communication networks and the Internet of Things (IoT)-enabled sensors to optimize operations and promote sustainable development in urban areas. It involves the use of various mobile and web applications, along with sensors, chips and actuators for management and administration of the public and utilities through digital devices. Smart cities also utilize various advanced technologies, such as cloud computing, artificial intelligence (AI) and machine learning (ML). These technologies are integrated with smart grids, smart meters and smart waste management systems for automation across medical, education, transportation and energy industries.
Smart Cities Market Trends:
The global smart cities market is primarily being driven by hyper-urbanization, along with the increasing adoption of advanced solutions for economic, social and environmental development. The construction of smart cities and the utilization of advanced integrated technologies also aid in the remote monitoring and management of patients suffering from the coronavirus disease (COVID-19) and ensuring the availability of optimal healthcare facilities. Other factors, including the implementation of favorable government initiatives across developed and emerging economies for establishing smart cities, along with significant improvements in the energy infrastructure, are anticipated to drive the market toward growth. Looking forward, IMARC Group expects the global smart cities market to reach US$ 2,482.3 Billion by 2027, exhibiting a CAGR of 18.34% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- ABB Group (NYSE: ABB)
- Cisco Systems Inc.
- Alphabet Inc.
- International Business Machines (IBM) Corporation
- Microsoft Corporation
- Oracle Corporation
- Schneider Electric
- Hitachi, Ltd.
- Siemens AG
- Huawei Technologies Co. Ltd.
- Intel Corporation
- General Electric (GE) Company
- Telefonaktiebolaget L M Ericsson
- Toshiba Corporation
- Honeywell International Inc.
- AT&T Communications
Market Segmentation:
Breakup by Smart Citizen Services:
- Smart Education
- Smart Healthcare
- Smart Public Safety
- Smart Street Lighting
- Others
Breakup by Focus Area:
- Smart Transportation
- Smart Buildings
- Smart Utilities
- Smart Citizen Services
Breakup by Smart Transportation:
- Smart Ticketing
- Traffic Management System
- Passenger Information Management System
- Freight Information System
- Connected Vehicles
- Others
Breakup by Smart Buildings:
- Building Energy Optimization
- Emergency Management System
- Parking Management System
- Others
Breakup by Smart Utilities:
- Advanced Metering Infrastructure
- Distribution Management System
- Substation Automation
- Others
Regional Insights:
- Europe
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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