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Smart Cities Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

  • ID: 5411790
  • Report
  • August 2021
  • Region: Global
  • 112 Pages
  • Acute Market Reports

FEATURED COMPANIES

  • General Electric
  • IBM & CISCO
  • Schneider Electric

With the increasing rate of urbanization, globalization and ageing infrastructure, the cities are required to become more enhanced in terms of ICT infrastructure, technological up gradation, and so on. Smart cities technologies have been developed to address a range of issues such as public safety, street lighting, urban mobility, water management, and energy management. These solutions can be supported by general development in areas, including cloud computing, data analytics, sensor networks and wireless communications. Governments all around the world are thus, keeping constant focus to build smart cities to leverage the technological advancements for better infrastructure solutions. The global smart city market is expected to grow at a CAGR 14.5% during forecast period of 2021-2029.


Smart Building Infrastructure to Dominate In terms of Market Revenues

The global smart cities market has been segmented on the basis of various management systems under the smart city framework such as Smart Building and Infrastructure, Smart Energy Management, Smart Transportation, and so on. Smart building and infrastructure is the primary base for creating smart cities. The smart building & infrastructure market had the highest market share of 32.5% in 2020. However, the growing population has led the government to place major focus on issues such as increasing energy consumption, growing traffic, and various security issues. Thus, smart energy management and smart transportation management are estimated to be the fastest growing segments, recording a CAGR of 15% during forecast period. Governments are focusing on promoting sustainability, integrating sustainable development concepts into broader operations, and realizing cost efficiency and short-term and long-term benefits from sustainability initiatives. The increasing consumption of energy resources and the increasing carbon footprint is a major cause of environmental concerns. The governments are looking for a solution that will provide alternative sources of energy so as to fulfill the demand for growing population without damaging the environment. A solution to check the growing environmental issues is the need of the time.


Government Has the Key Role in Compelling Market Growth for Smart Cities

Smart cities acquire all the technological advancements with the concentration on major segments like transport, energy management, water management, waste management, and proper healthcare. Smart infrastructure refers to ICT-enabled infrastructure, which is easy to introduce and replace as compared to legacy infrastructure. Smart city technology market is a collection of software companies, hardware companies, electric companies, and some other specialized companies that collectively provide smart solutions to the cities. Almost 80% of the world’s GDP is generated from urban centers. Also, there is a significant shift of population from rural to urban areas. The governments need smarter solutions to leverage this growth in urban population. With smart cities solutions, the governments will focus on promoting sustainability, integrating sustainable development concepts into broader operations, and realizing cost efficiency and short-term and long-term benefits from sustainability initiatives.


Highest Level of Urbanization Drives the Revenues in North America

North America is a developed economy with more than 80% population living in urban areas. However, the ageing infrastructure is a major challenge before North America. Similarly, in Europe, changing weather conditions demand better infrastructure facilities. Moreover, Europe’s urban structure is not very concentrated: 23 cities are populated by more than one million citizens, 345 cities by more than 100,000, and only 7% of the European Union (EU) population lives in cities of over 5 million. Thus all these issues in North America and European region compel the governments to think for better infrastructure solutions. The smart building & infrastructure sector surpassed $17 billion investment in 2019 from $7 billion in 2015. Although all the three regions i.e., Asia Pacific, North America, and Western Europe will lead smart building spending due to a combination of policy and business dynamics, North America’s smart building spending will be led by corporations trying to increase their efficiency while European growth is spurred by the EU and government regulations.


Key Market Players

Along with IBM & CISCO, General Electric and Schneider Electric play major roles in energy and technology domains. They deal with energy management solutions like, smart traffic system utilities, LED traffic signals, and so on. In present world, the concentration is hugely on energy, transport, and traffic. Siemens is transforming the cities for the better through sustainable technology. It deals with integrated mobility, safety solutions, power distribution, and management, and provides many parallel solutions to all of them. Hitachi, Toshiba, and Panasonic deal with energy management solutions and provide hardware support along with software solutions with their collaborated companied - Accenture & Lving Plan IT. Toshiba deals with city energy management system, Panasonic deals with home energy management system and Hitachi deals with both city as well as home energy management solutions. 


Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2029.


Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.


Segmentation

 By Management Systems (2019-2029; US$ Bn)

  • Smart building & infrastructure
    • Energy
    • Water management
    • Lighting
    • HVAC
    • Security
    • Elevator
    • Others

  • Smart energy management
  • Smart transportation management system
    • RFID in Transportation System
    • Traffic management
    • Passenger Information System
    • Ticketing System
    • Parking Management System

  • Smart healthcare system
  • Smart water management
  • Security and Safety solutions

 Region Type Segment (2019-2029; US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

  • Pre Covid-19 situation
  • Post Covid-19 situation

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the sulphur recovery technology market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?
  • Who are the key players in the smart cities market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • General Electric
  • IBM & CISCO
  • Schneider Electric

Chapter 1. Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 Key offerings
1.2. Market Segmentation
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions
1.3.5 Approach Adopted
Chapter 2. Executive Summary
2.1 Market Snapshot: Global Smart Cities Market
2.2 Global Smart Cities Market, 2020 (US$ Mn)
2.3 Porter’s Five Force Model
2.4 See Saw Analysis
2.5 Key Buying Criteria
2.6 Impact of Covid 19
Chapter 3. Market Determinants
3.1. Drivers of Smart Cities Market
3.1.1. Growing urbanization challenges calls for smart infrastructure
3.1.2. Smart cities will improve economic model
3.1.3. Rising demand for improved transport management system
3.1.4. Growing Environmental Concerns & Development of green technology
3.1.5. Increasing Crime rates demands for better security solutions
3.1.6. Demand for Energy Management
3.1.7. Government Initiatives
3.2. Restraints
3.2.1. Government Regulations
3.2.2. High cost in setup smart cities – for developing countries
3.2.3. Collection of private data – To create road maps of smart cities
3.3. Opportunities
3.3.1. Consulting , Application Support, and Maintenance
3.3.2. Europe: Smart Budgeting Mechanism
3.3.3. APAC: Emerging Economies
3.3.4. African Countries
3.4. Challenges
3.4.1. High cost of new technology
3.4.2. Synergy between sectors
Chapter 4. Market Segmentation of Smart Cities Market 2019 -2029 ($ Million)
4.1. Smart building & infrastructure 2019 - 2029, (US$ Mn)
4.1.3.1. Energy 2019 - 2029, (US$ Mn)
4.1.3.1. Water management 2019 - 2029, (US$ Mn)
4.1.3.1. Lighting 2019 - 2029, (US$ Mn)
4.1.3.2. HVAC 2019 - 2029, (US$ Mn)
4.1.3.3. Security 2019 - 2029, (US$ Mn)
4.1.3.4. Elevator 2019 - 2029, (US$ Mn)
4.1.3.4. Others 2019 - 2029, (US$ Mn)
4.2. Smart energy management 2019 - 2029, (US$ Mn)
4.4. Smart transportation management system 2019 - 2029, (US$ Mn)
4.3.3.2. RFID in Transportation System 2019 - 2029, (US$ Mn)
4.3.3.3. Traffic management 2019 - 2029, (US$ Mn)
4.3.3.4. Passenger Information System (PIS) 2019 - 2029, (US$ Mn)
4.3.3.5. Ticketing System 2019 - 2029, (US$ Mn)
4.3.3.6. Parking Management System (PMS) 2019 - 2029, (US$ Mn)
4.4. Smart healthcare system 2019 - 2029, (US$ Mn)
4.5. Smart water management 2019 - 2029, (US$ Mn)
4.6. Security and Safety solutions 2019 - 2029, (US$ Mn)
Chapter 5. North America Smart Cities Market 2019 -2029 ($ Million)
5.1. U.S. 2019 - 2029, (US$ Mn)
5.2. Canada 2019 - 2029, (US$ Mn)
5.3. RoNA 2019 - 2029, (US$ Mn)
Chapter 6. Europe Smart Cities Market 2019 -2029 ($ Million)
6.1. UK 2019 - 2029, (US$ Mn)
6.2. France 2019 - 2029, (US$ Mn)
6.3. Italy 2019 - 2029, (US$ Mn)
6.4. Spain 2019 - 2029, (US$ Mn)
6.5. Rest of Europe 2019 - 2029, (US$ Mn)
Chapter 7. Asia Pacific Smart Cities Market 2019 -2029 ($ Million)
7.1. India 2019 - 2029, (US$ Mn)
7.2. China 2019 - 2029, (US$ Mn)
7.3. Japan 2019 - 2029, (US$ Mn)
7.4. Korea 2019 - 2029, (US$ Mn)
Chapter 8. ROW Smart Cities Market 2019 -2029 ($ Million)
8.1. Latin America 2019 - 2029, (US$ Mn)
8.1.1. Brazil 2019 - 2029, (US$ Mn)
8.1.2. Mexico 2019 - 2029, (US$ Mn)
8.1.3. Argentina 2019 - 2029, (US$ Mn)
8.2. Middle East 2019 - 2029, (US$ Mn)
Chapter 9. Company Profiling
9.1. IBM & CISCO
9.1.1. Overview
9.1.2. IBM & CISCO Product Portfolio
9.1.3. Strategic moves
9.1.4. SCOT Analysis
9.2. General Electric
9.2.1. Overview
9.2.2. General Electric Product Portfolio
9.2.3. Strategic moves
9.2.4. SCOT Analysis
9.3. Schneider Electric SE
9.3.1. Overview
9.3.2. Schneider Electric Product Portfolio
9.3.3. Strategic Analysis
9.3.4. SCOT Analysis
9.4. Hitachi
9.4.1. Overview
9.4.2. Hitachi Product Portfolio
9.4.3. Strategic Analysis
9.4.4. SCOT Analysis
9.5. Toshiba
9.5.1. Overview
9.5.2. Toshiba Product Portfolio
9.5.3. Strategic Analysis
9.5.4. SCOT Analysis
9.6. Panasonic
9.6.1. Overview
9.6.2. Panasonic Product Portfolio
9.6.3. Strategic Analysis
9.6.4. SCOT Analysis
9.7. Hitachi
9.7.1. Overview
9.7.2. Hitachi Products Portfolio
9.7.3. SCOT Analysis
9.8. Accenture
9.8.1. Overview
9.8.2. Accenture Products Portfolio
9.8.3. Strategic Analysis
9.8.4. Scot Analysis
9.9. Lving Plan IT
9.9.1. Overview
9.9.2. Lving Plan IT Product Portfolio
9.9.3. Strategic Analysis
9.9.4. SCOT Analysis
Note: Product cover images may vary from those shown
  • IBM & CISCO
  • General Electric
  • Schneider Electric
Note: Product cover images may vary from those shown