U.S. markets closed
  • S&P 500

    -18.19 (-0.48%)
  • Dow 30

    -469.63 (-1.50%)
  • Nasdaq

    +72.95 (+0.56%)
  • Russell 2000

    +0.88 (+0.04%)
  • Crude Oil

    -1.87 (-2.94%)
  • Gold

    -42.40 (-2.39%)
  • Silver

    -0.98 (-3.56%)

    -0.0112 (-0.92%)
  • 10-Yr Bond

    -0.0580 (-3.82%)

    -0.0072 (-0.51%)

    +0.3200 (+0.30%)

    -3,393.08 (-7.23%)
  • CMC Crypto 200

    -20.25 (-2.17%)
  • FTSE 100

    -168.53 (-2.53%)
  • Nikkei 225

    -1,202.29 (-3.99%)

Outlook on the Global Smart Cities Industry to 2027 - Emergence of Artificial Intelligence Presents Lucrative Opportunities

Dublin, April 07, 2020 (GLOBE NEWSWIRE) -- The "Smart Cities Market by Application (Smart Utilities, Smart Transportation, Water Management, Waste Management, Smart Healthcare, Smart Lighting, Smart Education), Component (Hardware, Software, and Services), and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global smart cities market is expected to witness significant growth in the upcoming years due to growing government initiatives for overpopulation and urbanization management and growing requirement of resource management for sustainable development. Moreover, the factors such as rise in adoption of IoT and its market application, 5G connectivity, and increasing adoption of connected vehicles & autonomous drones further support the growth of the smart cities market.

The overall smart cities market is primarily segmented by application (smart transportation, smart utilities, smart education, smart healthcare, smart public safety, governance, smart lighting solutions, and smart building), component (hardware, software, and services), and by geography.

Based on the component, the hardware segment commanded the largest share of the overall smart cities market. However, the services segment is anticipated to grow with the highest growth rate in the overall smart cities market during the forecast period. The high growth of smart city services is attributed to the consistent growth in the processes such as installation, maintenance, and up-keeping of smart city hardware and software in the coming years.

Based on the application, smart education market is slated to grow at the fastest CAGR during the forecast period. This is attributed to the proliferation of connected devices in education sector, adoption of e-learning solutions, growing use of artificial intelligence, and adoption of machine learning. Moreover, growing emphasis on e-learning and digital technologies such as learning management systems is also further expected to support the fastest growth of the smart education sector in the coming years.

An in-depth analysis of the geographic scenario of the market provides detailed qualitative and quantitative insights about the five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America commanded the largest share of the global smart cities market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The large share of this region is mainly attributed to the fast-developing advanced communication infrastructure, stringent measures for public safety and data privacy, growing focus on reducing carbon footprints using innovative ICT technologies, and prioritizing the development of smart cities by many local and national government authorities. Furthermore, the government initiatives for overpopulation and urbanization management have boosted the overall smart cities market in the region.

Some of the key players operating in the global smart cities market are CISCO Systems Inc. (U.S.), Huawei Technologies (China), IBM Corporation (U.S.), ATOS SE (France), Foxconn Electronics, Inc. (Taiwan), Robert Bosch GmbH (Germany), General Electric Company (U.S.), SIEMENS AG (Germany), L&T Infotech (India), Cognizant (U.S.), Capgemini (France), Schneider Electric SE (France), INTEL Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), and Fujitsu Ltd. (Japan), among others.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers Government Initiatives for Managing Rising Urban Population Growing Requirement of Resource Management for Sustainable Development
4.2.2. Restraints Need of Significant Initial Investment Rising Cases of Data Theft
4.2.3. Opportunities Emergence of Artificial Intelligence Rise of IoT and its Market Application
4.2.4. Challenges Risk of Data Abuse by Large Corporations Reluctance from Citizens to Adopt New Technologies
4.2.5. Trends 5G Technology to Boost Internet Connectivity Connected Vehicles & Autonomous Drones
4.3. Value Chain Analysis
4.4. Case Studies
4.4.1. City of Seoul
4.4.2. Smart City London
4.4.3. Singapore: Intelligent Transport System

5. Global Smart City Market, by Application
5.1. Introduction
5.2. Smart Transportation
5.2.1. Parking Management
5.2.2. Ticketing & Travel Management
5.2.3. Traffic Management
5.2.4. Passenger Information Management System
5.2.5. Freight Information System
5.3. Smart Utilities
5.3.1. Smart Energy Management Smart Meter Meter Data Management PV Monitoring Smart Grid Power Electronics Converters Smart Energy Storage
5.3.2. Smart Water Management
5.3.3. Smart Waste Management
5.3.4. Smart Distribution Management
5.4. Smart Education
5.5. Smart Healthcare
5.5.1. Connected Healthcare Solutions
5.5.2. Telemedicine
5.6. Smart Public Safety
5.6.1. Surveillance
5.6.2. Command & Control Solutions
5.7. Smart Governance
5.7.1. E-Governance Solutions
5.7.2. Smart Emergency Management
5.7.3. Smart Law Enforcement
5.7.4. Smart City Planning
5.8. Smart Lighting Solutions
5.9. Smart Buildings
5.9.1. Smart Lighting Control Systems
5.9.2. Smart Energy Management System
5.9.3. Smart Facility Management System

6. Global Smart City Market, by Component
6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software

7. Global Smart City Market, by Geography
7.1. Introduction
7.2. North America
7.2.1. U.S.
7.2.2. Canada
7.3. Europe
7.3.1. Germany
7.3.2. United Kingdom
7.3.3. France
7.3.4. Italy
7.3.5. Spain
7.3.6. Rest of Europe
7.4. Asia-Pacific
7.4.1. Japan
7.4.2. China
7.4.3. India
7.4.4. Singapore
7.4.5. Rest of Asia-Pacific
7.5. Latin-America
7.6. Middle East & Africa

8. Competitive Landscape
8.1. Introduction
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Market Ranking (2018)
8.4.1. General Electric
8.4.2. Intel Corporation.
8.4.3. IBM Corporation.
8.4.4. Cisco Systems Inc.

9. Company Profiles
9.1. Cisco Systems, Inc.
9.1.1. Business Overview
9.1.2. Financial Overview
9.1.3. Product Portfolio
9.1.4. Strategic Developments
9.2. Huawei Technologies
9.3. IBM
9.4. Atos SE
9.5. Foxconn Electronics, Inc.
9.6. Robert Bosch GmbH
9.7. General Electric
9.8. Siemens AG
9.9. L&T InfoTech
9.10. Cognizant
9.11. Capgemini
9.12. Schneider Electric SE
9.13. Intel Corporation
9.14. Qualcomm Technologies, Inc.
9.15. Fujitsu Ltd.

10. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/e4era5

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900