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Press release content from Business Wire. The AP news staff was not involved in its creation.

Worldwide Smart City Industry to 2027 - by Component, Application and Region - ResearchAndMarkets.com

September 1, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Sep 1, 2021--

The “Smart City Market 2021-2027” report has been added to ResearchAndMarkets.com’s offering.

The smart city market is anticipated to grow at a substantial CAGR of around 18.1% during the forecast period.

Companies Mentioned

  • AT&T Inc.
  • Cisco Systems, Inc.
  • Engie SA
  • Telefonaktiebolaget LMEricsson
  • Ferrovial, S.A.
  • FIWARE
  • Hitachi, Ltd.
  • Huawei Technologies Co., Ltd.
  • IBM Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • SAP SE
  • Schneider Electric SE
  • Siemens AG
  • Tata Consultancy Services Limited.
  • TELEFONICA S.A.
  • thyssenkrupp AG
  • Toshiba Corp.
  • Wipro Ltd.

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The increasing smart city projects owing to the increasing urbanization, and increasing adoption of green technology due to environmental concerns are the factors driving the growth of the market. Further, the adoption of advanced technologies such as AI and IoT platforms to monitor the city infrastructures, transportation management, communication, security & safety management are increasing in smart cities. Owing to the increasing urbanization, governments are also playing an important role in smart city development by investing high in infrastructure growth and technology advancements. Which is further expected to drive the market growth during the forecast period. Security concerns over the deployment of smart devices in cities may hamper the market growth.

The global smart city market is bifurcated into components and applications. Based on components, the market is classified as hardware, software, and others. Based on applications, the market is categorized into building and infrastructure, transportation system & services, safety & security, communication, energy management, waste management, healthcare system & services, water management, and others. Among these, the smart city projects in transportation systems & services are expected to hold the largest share in the market owing to the increased urbanization and increased demand for an effective transport management system due to increased vehicles globally.

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Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific is projected to be the fastest-growing region during the forecast period owing to the increased smart city pilot projects, supportive regulations and initiatives for smart city developments, and increasing disposable income. North America is expected to dominate the market during the forecast period. The growth in the region is attributed to the increased focus on the development of digital infrastructure, growing urbanization, and increasing government concern regarding carbon emission due to high energy consumption. The adoption of smart and advanced technologies such as cloud-based solutions, IoT, Big Data, Blockchain, Cybersecurity and Cloud, among others in smart city projects expected to drive growth during the forecast period.

The Report Covers

  • Comprehensive Research Methodology of the global smart city market.
  • This report also includes a detailed and extensive market overview with key analyst insights.
  • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the global smart city market.
  • Insights about market determinants that are stimulating the global smart city market.
  • Detailed and extensive market segments with the regional distribution of forecasted revenues.
  • Extensive profiles and recent developments of market players.

Key Topics Covered:

1. Report Summary

2. Market Overview and Insights

2.1. Scope of the Report

2.2. Analyst Insight & Current Market Trends

2.2.1. Key Findings

2.2.2. Recommendations

2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis

3.1.1. Overview

3.1.2. Financial Analysis

3.1.3. SWOT Analysis

3.2. Key Strategy Analysis

3.3. Impact of COVID-19 on key players

4. Market Determinants

4.1. Motivators

4.2. Restraints

4.3. Opportunities

5. Market Segmentation

5.1. Global Smart City Market, By Component

5.1.1. Hardware

5.1.2. Software

5.1.3. Others

5.2. Global Smart City Market, By Application

5.2.1. Building And Infrastructure

5.2.2. Transportation System and Services

5.2.3. Safety and Security

5.2.4. Communication

5.2.5. Energy Management

5.2.6. Waste Management

5.2.7. Healthcare System and Services

5.2.8. Water Management

5.2.9. Others

6. Regional Analysis

7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/mhsgyc

View source version on businesswire.com:https://www.businesswire.com/news/home/20210901005785/en/

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SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 09/01/2021 12:04 PM/DISC: 09/01/2021 12:04 PM

http://www.businesswire.com/news/home/20210901005785/en