ReportsnReports offers a detailed overview of the global market in a report, titled “Smart Cities Market Size, Share and Industry Analysis By Technologies, By Product, By Application, By Distribution Channel, and Regional Forecast 2017-2026.”
This report covers the global market for smart city technologies and regional analysis of North America, Latin America, Europe, Asia-Pacific and the Rest of the World. Component segments include communications, hardware, sensors, and software as well as in-depth market size and forecast for key end-user segments including energy management, water management, transportation management, assisted living, e-government and waste management.
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Smart Cities: Technologies and Global Market Report Includes:
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In this report, we analyze the Smart Cities industry from two aspects. One part is about its production and the other part is about its consumption. In terms of its production, we analyze the production, revenue, gross margin of its main manufacturers and the unit price that they offer in different regions from 2012 to 2017. In terms of its consumption, we analyze the consumption volume, consumption value, sale price, import and export in different regions from 2012 to 2017. We also make a prediction of its production and consumption in the coming 2017-2022.
Report Summary
The global smart cities market for information and communications technologies has continued to expand at a rapid pace since the 2015 report issued by RnR Research. Total market value increased to an estimated $342.4 billion in 2016 from around $320 billion in 2015. RnR Research estimates that the market will reach $774.8 billion in 2021 at a compound annual growth rate (CAGR) of 17.7%. This will exceed the $668.5 billion estimated for 2019 in the previous report, with a similar growth rate. In short, the market has continued to gain momentum in the last few years as demand for more effective citywide management methods becomes more popular.
Regionally, North America will continue to dominate the global market for smart city technologies, although its 43% market share is estimated to drop by one percentage point in 2021. Technology ubiquity, advanced investment and organizational models in cities led by New York, Los Angeles and Chicago in the U.S. and Toronto, Vancouver and Calgary in Canada will continue to drive investment. There were more than a dozen smart city projects in the region as of June, 2017. Further, RnR Research estimates that investment rate in the region will increase from $118.5 billion in 2016 to $244.5 billion in 2021 at a CAGR of 15.6%.
Competing next for scale are the markets of Europe and Asia-Pacific, where regional and local governments are driving smart city technology adoption. Early investments in Asia-Pacific will boost market value in the short term, at $91.7 billion in 2016, helped by the aggressive growth investments by major countries. However, Asia-Pacific’s CAGR of 14.7% will be surpassed by Europe in the latter years of the forecast period as the economic climate improves in the E.U. and major initiatives, such as energy management will drive a 24.3% CAGR in the region.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Smart Cities Market Business Strategy, Trends, Technologies, Assessment Report 2019-2026