|
(Wireless-NewsWire.Com, June 13, 2016 ) The report "Smart Cities Market by Solution and Services for Focus Areas (Transportation - Rail & Road, Utilities - Energy, Water, & Gas, Buildings - Commercial & Residential, and Smart Citizen Services - Education, Healthcare, & Security) - Global Forecast to 2020", The smart cities market size is estimated to grow from USD 312.03 Billion in 2015 to USD 757.74 Billion by 2020, at an estimated CAGR of 19.4% from 2015 to 2020.
Browse 112 market data Tables and 73 Figures spread through 215 Pages and in-depth TOC on "Smart Cities Market - Global Forecast to 2020"
http://www.marketsandmarkets.com/Market-Reports/smart-cities-market-542.html
Early buyers will receive 10% customization on this report.
The driving factors for the growth of smart cities market are technological advancements in the field of IoT, cloud, sensors, & mobility; growing demographics & hyper-urbanization; government initiatives; growing energy consumption & requirement for optimization of energy usage during peak hours; increasing share of renewable energy and limitations in capacity expansion; and decrease in operational cost for smart building infrastructures in capacity expansion.
The building segment is expected to grow with the highest CAGR in the focus area segment
The building technology has significantly changed over time, and various disciplines such as building automation for facility and emergency response management, building energy optimization, parking management, and in-building communication systems, are now being widely adopted. Green building initiates have taken up a center stage across many countries, especially across the Europe, North America, and APAC region. Focus on reduction in energy consumption and concerns over proliferation of environmental wastes are major driving factors for green building initiatives. Transportation is another major growing focus area during the forecast period. Smart transportation solutions have been successfully deployed in some of the major metropolitan cities around the world, diminishing traffic congestion issues.
The Asia-Pacific (APAC) region is expected to grow with the highest CAGR
Among the regions, Europe is expected to be the highest contributor followed by APAC. The market is in the emerging stage in the regions of Europe, APAC, Latin America, and the Middle-East and Africa (MEA). Therefore, these regions present immense scope for the development of smart cities. Moreover, there is a huge return on investment in the smart cities market but low levels of operational efficiency in emerging countries and absence or lack of robust telecom and networking infrastructures in these regions is the major restraining factor for the faster development of smart cities.
The major vendors in the smart cities market include IBM, Cisco, Microsoft, Schneider Electric, Siemens, Oracle, Huawei, Ericsson, Toshiba, and Hitachi. SAP, ABB, General Electric, Silver Spring Networks, AGT, Itron, Alstom, Kapsch, Alcatel Lucent, Honeywell International, and Maven Systems are identified as key innovators in the market.
Smart cities market has been segmented into focus areas, smart enabling technologies, and regions. The focus areas are transportation, utilities, buildings, and smart citizen services. Smart enabling technologies are further segmented into networking, location-based technologies, security, artificial intelligence, and other smart technologies. Finally, the smart cities market is segmented according to the regions of North America, Europe, APAC, MEA, and Latin America.
Download PDF Brochure - http://www.marketsandmarkets.com/pdfdownload.asp?id=542
About MarketsandMarkets
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
MarketsandMarkets
Mr. Rohan
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
|
