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The global smart cities market was valued at $517,629 million in 2017 and is projected to reach $2,402,123 million by 2025, registering a CAGR of 21.28% from 2018 to 2025.
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Smart Cities Market Analyst Review China is expected to grow at the highest CAGR during the forecast period due to significant growth in adoption of smart cities solutions on account of large number of smart cities pilot projects in the country. PramodBorasi Research Assosciate, ICT at Allied Market Research
CURRENT AND FUTURE MARKET SCENARIO • The global smart cities market was valued at $517,629 million in 2017 and is projected to reach $2,402,123 million by 2025. • The global smart cities market growing at a CAGR of CAGR of 21.28% from 2018 to 2025. • The software segment dominated the overall digital signature market, in terms of revenue, and is projected to grow at a CAGR of 30.7% during the forecast period. • The cloud-based digital signature market dominated the global market in 2014, and is anticipated to grow at the highest CAGR from 2016 to 2022. Top Investment Pockets Smart cities use different information and communication technologies to fuel sustainable economic growth. They are focused to provide enhanced urban services to reduce overall resource costs and energy consumption. The factor that drives the global smart cities market includes continuous growth in urbanization resulting in increasing demand for smart technology for efficient day-to-day services for better resource management. In addition, proactive government solutions for smart cities deployment due to the wide adoption of Internet of Things (IoT) devices is expected to boost the growth of the global market.
TOP IMPACTING FACTORS TO MARKET GROWTH • Government smart city initiatives. • Rise in need of better natural resource management. • Growth in need of public safety and security. Based on functional area, the smart infrastructure segment dominated the global smart cities market in 2017 due to demand of advanced security and safety devices among public organizations. Furthermore, the smart energy segment is expected to grow at the highest CAGR during the forecast period due to increase in demand for energy efficient solutions driving the adoption of smart energy meters to meet the unique challenges associated with the increasing demand of energy for continuously growing population.
The global smart cities market is segmented based on functional area and region. Based on functional area, it is categorized into smart governance & smart education, smart energy, smart infrastructure, smart mobility, smart healthcare, smart building, and others. Smart Cities Market Segmentation • By Functional Area • Smart Governance & Smart • Smart Energy • Smart Infrastructure • Smart Mobility • Smart Healthcare • Smart Building • Others Request PDF Sample Copy@ https://www.alliedmarketresearch.com/request-sample/383
The smart infrastructure segment dominated the global smart cities market in 2017 due to demand of advanced security and safety devices among public organizations. The smart energy segment is expected to grow at the highest CAGR during the forecast period due to increase in demand for energy efficient solutions By end user, the smart infrastructure segment dominated the global smart cities market during the forecast period.
GEOGRAPHICAL OVERVIEW • Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. • In 2017, North America accounted for the highest revenue among the other regions. • By region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
DOMINATING MARKET PLAYERS PROFILED IN THE STUDY • AT&T, Inc. • Cisco Systems Inc. • Ericsson • General Electric • Hitachi Ltd. • Huawei Technologies Co., Ltd. • IBM Corporation • Intel Corporation • Microsoft Corporation • Schneider Electric SE
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