Smart Cities Market Size, Statistics, Industry Growth, Value Chain, Trends And Forecast To 2027

​The main objective of this report is to define, describe, and forecast the global Smart Cities market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in Smart Cities market.

Governments around the world are striving to implement solutions in creation of sustainable cities. Various smart cities technologies and solutions are proving vital for improving the urban planning sustainability measures in cities. Sustainable development goals highlighted in the UN summit of 2015 enlisted sustainable cities and communities as a goal for the period (2015-2030). The recent Conference on Housing and Sustainable Urban Development hosted by the United Nations in Quito, Ecuador, emphasized on the planning of cities for the future and the importance of cities for a sustainable future. Rapid urbanization across the world is creating challenges in delivery of public services and is one of the major factors for the adoption of smart cities concept. The smart cities solutions are focusing in the direction of basic services provided to citizens which include energy, security, transportation, economy and education amongst others. For instance, companies such as AT&T Intellectual Property and CURRENT, POWERED BY GE have collaborated to provide solutions for smart cities using Internet of Things. The primary applications for the collaborative effort include traffic monitoring and security amongst others. Also, this helps in planning for roads that can lead to minimal instances of accidents thereby, ensuring citizen safety. In terms of revenue, the global smart cities market stood at US$ 88,303.0 Mn in 2018 and is anticipated to reach US$ 506,580.1 Mn by 2027, expanding at a CAGR of 21% during the forecast period.

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"Governments are actively investing in technology with an aim to improve the quality of living for their citizens. The inclusion of smart city solutions across the world are allowing the creation of sustainable cities for the future. This in turn is also creating opportunities for various players active in the smart cities market, providing various hardware, software and solutions needed to support smart cities architecture".

The detailed research study provides qualitative and quantitative analysis of the global smart cities market. The market has been analyzed from demand as well as supply side. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

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Smart Cities Market:

• By Application

o Energy

o Security

o Transportation

o Building and Infrastructure

o Healthcare

o Education

o Governance

o Utilities

o Others (Smart Manufacturing, Smart Tourism, Etc.)

• By Components

o Hardware

o Software

o Services

o Consulting

o Deployment and Integration

o Others

• By Region

o North America

o U.S.

o Canada

o Mexico

o Rest of North America

o Europe

o France

o The UK

o Spain

o Germany

o Italy

o Nordic Countries

o Denmark

o Finland

o Iceland

o Sweden

o Norway

o Benelux Union

o Belgium

o The Netherlands

o Luxembourg

o Rest of Europe

o Asia Pacific

o China

o Japan

o India

o New Zealand

o Australia

o South Korea

o Southeast Asia

o Indonesia

o Thailand

o Malaysia

o Singapore

o Rest of South Asia

o Rest of Asia Pacific

o Middle East and Africa

o Saudi Arabia

o UAE

o Egypt

o Kuwait

o South Africa

o Rest of Middle East & Africa

o Latin America

o Brazil

o Argentina

o Rest of Latin America

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