Felton - Smart Cities Market size is highly
anticipated to value at USD 2.57 trillion by 2025. The market is subject to
witness a substantial growth due to the growing requirement for smart city
solutions to meet rising demands of urban population. Factors responsible for
the market growth are systematic management of natural resources, and emphasis
on environmental factors such as pollution and industrial waste management. The
smart cities market is expected to showcase a massive CAGR of 18.4% during the
forecast period.
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Applications of smart city project extends wider in a range
of sectors and areas with the adoption of modern technology and its efficient
use, in order to offer world-class services. Applications of smart city project
helps cities to sustain itself as an attractive tourism hub or a structured
community to bear adverse environmental conditions. Smart city solutions are
most suitable to the diverse lifestyle of urban living. Growing urbanization,
outdated infrastructure, integration of latest technologies, and requirement of
enhanced life style are key factors responsible for the growth in recent years.
The smart city projects analyze a specific set of demands
similar to high mobility, smart and intelligent building and homes models,
minimum energy consummation, and efficient administrative services. Growing
implementation of innovative technologies offer efficient management of cities
to meet the future demands is a key factor driving the market growth. Numerous
initiatives implemented by both central and state government authorities
alongside local businesses to carry out smart city project in most efficient
way is further attributing to the expansion of smart cities market in upcoming
years.
A smart city project is mainly executed in an urban area
consists of various electronic sensors collecting real time data which is used
to handle assets and natural resources efficiently. Such data is analyzed and
processed to handle different scenarios such as management of traffic and
transportation systems, electrical power units, water supply networks, garbage
collection, and law enforcement. Other services offered by smart city project
are numerous public services like that of schools, libraries, hospitals, and
more.
Market Segment:
Smart Cities
Application Outlook (Revenue, USD Billion, 2014 - 2025)
• Smart Education
• Smart Governance
• Smart Buildings
• Smart Mobility
• Smart Healthcare
• Smart Utilities
Smart Cities
Component Outlook (Revenue, USD Billion, 2014 - 2025)
• Solutions
• Services
• Integration
& Deployment
• Professional
Services
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Regional Analysis For
Smart Cities Market:
For comprehensive understanding of market dynamics, the
global Smart Cities Market is analyzed across key geographies namely: North
America, Europe, Asia-Pacific, Latin America and Africa. Each of these regions
is analyzed on basis of market findings across major countries in these regions
for a macro-level understanding of the market.
Significant Features
that are under Offering and Key Highlights of the Reports:
– Detailed overview of Smart
Cities Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of
volume and value
– Recent industry trends and developments
– Competitive landscape of High-Performance Alloys Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising
growth.
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