Smart Cities Market to Witness Exponential Growth Till 2021 | Million Insights

FELTON, California, May 17, 2018 /PRNewswire/ --

Global Smart Cities Market is segmented, by Focus Area into transportation, Utilities, Building, smart citizen services. A smart city is an urban expansion vision to integrate information and communication technology (ICT) and internet of things (IoT) technology in a protected fashion to achieve a city's assets. These assets include local department's information systems, school, libraries, transportation systems, hospitals, power plants, water supply networks, water organization, law application, and other community services.

A smart city is encouraged to use urban informatics and technology to recover the competence of services. ICT allows city officials to interact directly with the community and the city infrastructure and to monitor what is trendy in the city. By the using of sensors combined with real-time monitoring systems, data are composed from citizens and devices then administered and analyzed. The information and knowledge collected are keys to undertaking inefficiency.

Information and communication technology (ICT) is used to improve quality, presentation and interactivity of urban services, to reduce costs and resources consumption and to improve contact between citizen and government. Smart city applications are industrialized to manage urban flows and allows for the real-time responses. A smart city may consequently be more prepared to respond to challenges than one with a simple transactional relationship with its citizens.

Increased advances in building information technologies as well as using these technologies to integrate and add value to the provision of urban services necessitate authorization for sustainable expansion of new methods. This may include the integration of organizations, software, and hardware that would recover the competitiveness of the environment in which cities operate.

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Growing industrialization and increasing urban population have created the need to incorporate smart cities concept to address the rising challenges. Though, smart cities technologies have been developed to address a range of issues such as public safety, street lighting, urban mobility, water management and energy management.

These solutions can be reinforced by general growth in areas including cloud computing, data analytics, sensor networks and wireless communications. The occasions for the development of smart cities using mobile and other platforms over different time spans is predictable to be massive however, integrating individualized and local technologies that are expected to proliferate would be a real challenge.

Smart Cities Market is segmented By Application into Smart Transportation, Smart energy management, Smart security, Industrial automation, Smart healthcare, buildings and smart homes. Rise in solutions such as passenger information systems, guidance system, parking management, integrated management system, ticketing management and traffic management is expected to favor smart transportation segment over the forecast period of 2016. Integration of communication infrastructure and intelligent systems are highly demanded as it can asset in the management of power delivery grids in an optimized way.

Smart Cities Market is segmented By Geographical Region into North America, Asia-Pacific, China, India, and Europe. In Asia-Pacific, high demand for smart cities is expected in china and India due to increasing environmental and energy unpredictability. The smart cities market in Europe is predictable to be promising for the market growth through the forecast period owing to increasing savings in infrastructure to recover public facilities. Augmented demand for smart transport and energy management has significantly driven regional market growth. Smart Cities Market Key Players include Oracle, Siemens, Intel, Honeywell, Cubic, Cisco, ABB, Accenture, Alcatel-Lucent and IBM.

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Global Smart Cities Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2011 - 2021) 

• North America

• China

• Europe

• Japan

• India

• Southeast Asia

Global Smart Cities Key Players Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2011 - 2021) 

• Living PlanIT

• International Telecommunications Union (ITU)

• International Standards Organisation (ISO)

• International Electrotechnical Commission (IEC)

• US National Institute of Standards and Technology (NIST)

• TM Forum

Global Smart Cities Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2011 - 2021) 

• Type I

• Type II

• Type III

Global Smart Cities Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2011 - 2021) 

• Application 1

• Application 2

• Application 3

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