|
(Wireless-NewsWire.Com, May 26, 2018 ) SUMMARY
The Internet of Things (IoT) in smart cities market size is estimated to grow from USD 51.96 Billion in 2015 to USD 147.51 Billion by 2020, at a CAGR of 23.20% from 2015 to 2020. IoT in smart cities is a concept aimed at providing a set of new generation services and infrastructure with the help of Information and Communication Technology (ICT).
Explore More Information about report @ https://www.researchcosmos.com/reports/global-internet-of-things-iot-in-smart-cities-market-analysis-and-forecast-to-2022-growth-opport/5340904
The holistic idea of IoT in smart cities is gaining a significant momentum throughout the globe. While greater demand could be seen for smarter technologies over utility grids, the focus would eventually shift toward other emerging areas, such as transportation, infrastructure management, building automation, energy management, and intelligent cities services, during the next decade. With the increasing demand for IoT devices, smart cities are highly inclined to adopt these solutions.
Retrofitting and refurbishing have become the key strategies for modernizing the residential and social infrastructure in the developed countries with large-scale public sector assets zoned centrally across urban areas. In emerging economies, such as China, Brazil, and India, where there are poorly maintained commercial markets, housing, schools, and governance buildings, the Refit model has become essential to develop commercial space along with new social infrastructure. With more than 200 smart city projects across the globe, there are huge opportunities in the IoT smart cities market for IoT vendors, service providers, platform providers, and consulting companies.
Request free sample @ https://www.researchcosmos.com/request/5340904
North America is expected to hold the largest market share and dominate the IoT smart cities market in 2015. The market size in North America is expected to decrease slightly during the forecast period as most of the IoT in smart cities projects funded by American Recovery and Reinvestment Act (ARRA) 2009 for investor-owned larger energy and utilities in the U.S. are expected to reach completion by early 2018. The IoT in smart cities solutions segment is expected to have the least growth rate during the forecast period. Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period. However, the inadequate financial incentives for transportation, energy management, utilities, interoperability, and security issues are a few pivotal factors hindering the growth of the IoT in smart cities in the APAC region.
The market is restrained due to factors such as government policies, privacy and security, inadequate financial incentives for utilities and interoperability, and standard interface. The major vendors in the IoT smart cities market include Cisco Systems Inc., Huawei Technologies, IBM Corporation, Intel Corporation and others. These players adopted various growth strategies such as new product launches, partnerships, contracts, collaborations, acquisitions, and expansions to increase their footprints globally.
Check for discount @ https://www.researchcosmos.com/discount/5340904
About Us:
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on gamut of sectors across the globe. We’re associated with world renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.
Research Cosmos
Dani Rodriguez
+1 888 709 8757
dani@researchcosmos.com
Source: EmailWire.Com 
|
