Study papers on Smart Cities market and regional forecast. Smart Cities market players are IBM Corporation (US), Cisco Systems, Inc. (US), Microsoft Corporation (US), Schneider Electric SE (France), Siemens AG (Germany), Oracle Corporation (US), Huawei Investment & Holding Co. Ltd. (China), Ericsson (Sweden), Toshiba Corporation (Japan), Hitachi, Ltd. (Japan).
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Smart cities market size is projected to grow from USD 424.68 billion in 2017 to USD 1,201.69 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.1%. The driving factors for the growth of smart cities market are rapid Connectivity and fast telecommunication provision; growing population and 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.
- National/State Governments
- Municipal Authorities
- Real Estate Developers
- IT Solution Providers
- System Integrators
- Telecom Service Providers
- Networking Solution Providers
- Transportation Service Providers
Europe gives a great opportunity to smart city solution vendors to develop innovative smart city solutions, particularly energy, mobility, and governance. The European Commission initiated the European Innovation Partnership (EIP) on Smart Cities and Communities in 2012. The important targets of EIP are better public transits, more energy efficient buildings and transportation, reduced carbon emissions, and sustainable environment. Asia Pacific is projected to grow at the fastest CAGR and will dominate the market by 2022.
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The building segment in smart cities focus areas is expected to grow at the highest CAGR during the forecast period. The increasing need for a centralized system for controlling and monitoring of various devices, such as lighting; Heating, Ventilation, and Air Conditioning (HVAC); surveillance, and emergency response, to energy efficiency and security enhancement in the building premises is driving the market for smart cities.
Smart Cities Market Analysis, By Smart Citizen Service
1 Smart Citizen Services
1.1 In-Vehicle Cameras: Use Case Scenario
1.1.1 New York City, US
1.2 Integrated Video Surveillance: Use Case Scenario
1.2.1 Buenos Aires, Argentina
2 Smart Citizen Services, By Type
3 Smart Education
4 Smart Healthcare
5 Security and Threat Management
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The report segments the smart cities market on the basis of focus areas: transportation, utilities, building, and smart citizen services. By regions – North America, Europe, APAC, MEA, and Latin America. Along with the focus areas, such as smart transportation, smart utilities, and smart buildings, which are segmented further by types, solutions, and services. Whereas, the smart citizen services are segmented based on their types–smart education, smart healthcare, and security and threat management.
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