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Smart Cities Market, by Component (Hardware, Software, and Services), by Application (smart Security, Smart Building, Smart Transportation, Smart Governance, Smart Energy, Smart Healthcare, Smart Water Network System, and Smart Education), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027<br>
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SMART CITIES MARKET ANALYSIS Smart Cities Market, by Component (Hardware, Software, and Services), by Application (smart Security, Smart Building, Smart Transportation, Smart Governance, Smart Energy, Smart Healthcare, Smart Water Network System, and Smart Education), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Market Overview The global smart cities market is accounted US$ 1069.4 Bnin terms of value in 2019. Market Drivers • Rampant urbanization worldwide is expected to drive growth of the global smart cities market during the forecast period • Proactive government initiatives are expected to propel the global smart cities market growth over the forecast period
Market Dynamics-Restraints Integration of new technologies within existing infrastructure is expected to restrain growth of the global smart cities market during the forecast period Growing susceptibility to cybercrimes and privacy violations due to digitization is expected to hinder the global smart cities market growth over the forecast period
Market Opportunities • Increasing need for waste management platform is expected to present lucrative business opportunity for market players • Growing awareness regarding sustainable living is expected to present major growth opportunities in the near future
Market Trends • Collaborations and partnerships between government and service providers • Increasing adoption of green building is a major trend in the market • Segment information: • In global smart cities market, by application segment, the smart energy sub-segment dominated the global market in 2018, accounting for 18.2% share in terms of value, followed by smart security, smart transportation, smart governance, smart building, smart healthcare, smart water network system, and smart education, respectively.
Competitive Section Key players involved in the global smart cities market are Microsoft Corporation, Toshiba Corporation, AT&T, Inc., SAP SE, Cisco Systems, Inc., Philips Lighting, Ericsson, Huawei Technologies Co., Ltd., Panasonic Corporation, General Electric, Oracle Corporation, Hitachi Data Systems Corporation, and IBM.
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