Smart Cities Market 2021 Global Industry Size, Demand, Growth Analysis, Share, Revenue and Forecast 2029

New research report “Smart Cities Market 2021 Global Opportunities, Challenges, Strategies and Forecast 2029” has been added on PMR.

USA, Jan. 19, 2022 / — Smart Cities Market 2021-2029

New research report “Smart Cities Market 2021 Global Opportunities, Challenges, Strategies and Forecast 2029” has been added on PMR.

Report details:

This report provides in depth study of “Smart Cities Market” using SWOT analysis i.e. Strengths, Weaknesses, Opportunities and Threats to the organization. The Smart Cities Market report also provides an in-depth investigation of major market players based on the various objectives of an organization such as profiling, product outline, production quantity, raw material required, and financial health of the organization.

Increased urban migration and a dramatic increase in unplanned city development have spurred the need for “smart” cities. Several solutions from private sector actors such as building construction groups and real estate developers have been proposed to the government to foster a resolute implementation of smart city projects. In a few years, governments around the world will take decisive steps to transform existing urban environments into smart cities. A latest forecast study by Persistence Market Research predicts that through 2026, more than US$3.4 billion will be spent globally on the implementation of smart cities.

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The age of cities and its developments create complexities to modernize it and make it adaptable to a smart urban environment. Emerging economies around the world are increasing investment in transforming old cities into new models of smart cities, equipped with sustainability plans, end-use of the latest information and communication technologies, and breakthrough architectural designs.

Key players:

The report has profiled some of the important players prevailing in the world such as – Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, General Electric, AT&T, Ericsson, Huawei Technologies Co., Ltd., Oracle Corporation, Panasonic Corporation, SAP, Siemens AG, Schneider Electric, Signify, Hitachi Vantara and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future prospects in Smart Cities.

Key Study Assessments

The report offers key insights into the expansion of the global smart cities market for the forecast period 2016-2026. The research findings and inferences compiled in the report support the market size estimates offered in this report. Here are some of the highlights on how the report assessed the growth of the global smart cities market in the near future.

Governments of countries like China and India should invest heavily in the development of smart cities. Such initiatives are expected to take shape during the first half of the forecast period.

In 2015, smart energy applications generated more than $100 billion in global revenue. By the end of 2026, smart security applications are expected to gain momentum and become the largest application in the global smart city market.
China, Spain, India and Germany are likely to see the highest deployment of smart grid technologies. By the end of 2026, smart energy applications in the global smart city market are expected to generate revenue worth more than US$545 billion.
Technology trends influencing the smart city ecosystem

Smart cities can be both beneficial and disruptive to urban infrastructure. With the growing adoption of intelligent traffic management and public transportation systems, smart cities are likely to alter the road maps of existing cities. Self-driving cars are also expected to play a key role in the development of smart cities.

Until 2026, smart cities being developed around the world are expected to witness the implementation of evolving technologies such as artificial intelligence and machine learning. Advanced surveillance systems will simplify the complexities of law enforcement in smart cities. However, the use of these technologies will reduce municipal employment, as smart systems and technologies tend to reduce the need for human intervention.

Global Smart Cities Market: Regional Analysis

The study predicts that until 2026, the adoption of smart cities will be exceptionally high in the Asia-Pacific ex-Japan (APEJ) region. Compared to other regions, the APEJ region continues to be recognized as the most lucrative market for smart cities, with the governments of several countries actively participating in the implementation process.

North America and Europe are also considered attractive markets for smart cities, although the robust urban environment existing in countries in these regions likely reduces the need for smart city development. Nevertheless, the ample availability of hectares of land in countries like the United States and Canada, coupled with the transition to sustainable power grids, will drive the growth of the smart city market in North America in the coming years. The Middle East and Africa region is also expected to see greater adoption of smart cities, with respect to the strong economies featured by the UAE and GCC countries.

Main stakeholders
Smart Cities Market Manufacturers
Smart Cities Market Distributors/Traders/Wholesalers
Smart Cities Market Subcomponent Manufacturers
industry association
Downstream Suppliers

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Key Highlights of the Smart Cities Market Report:

The Smart Cities Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report delves deeper into the market and explains the dynamic factors supporting market growth.
The report thoroughly assesses current and historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the presence of the smart cities market in major regions of the world.
It determines the production and consumption capacities and the supply and demand dynamics of each regional market.
The report further illustrates the intense competition among the leading market players and highlights their effective plans and strategies for business expansion.
It provides a company overview and SWOT analysis of each of the market players.
Answers to key questions in this report.

What will be the growth rate of the market in the future?
What are the key factors driving the global market?
Who are the major manufacturers in the Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by industry regions?
If you have any special requirements, please let us know and we will offer you the report you want and also provide you with a table of contents.

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About PersistenceMarketResearch:

PersistenceMarketResearch is a reputable company with a reputation for serving clients in the information technology (IT), healthcare and chemical industries. Our analysts undertake careful primary and secondary research to deliver a transparent report with a 360 degree perspective. Data is compared against reputable organizations, reliable databases and international surveys to produce impeccable reports supported by graphical and statistical information.

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