According to the Astute Analytica study on the global Smart Cities Market, the size of the market will increase from US$ 1,25,325.5 Mn in 2021 to US$ 6,70,424.1 Mn by 2030, registering a remarkable compound annual growth rate (CAGR) of 20.5% from 2022 to 2027.
The report’s segmentation section focuses on each category while also identifying those with the greatest influence on the Smart Cities Market. The segmentation provided the framework for locating businesses and assessing their financial health, product portfolios, and potential for future growth. In order to forecast the level of competition, the second step involved analysing the core competencies and market shares of leading companies. To determine the size of the market as a whole, a bottom-up approach was adopted.
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By Smart Utilities Type, the Energy segment to hold the largest market size during the forecast period
The Energy segment is expected to hold the largest market size. Smart Utilities in Energy refers to the application of network capabilities and computing intelligence to electric grids to efficiently manage and deliver power to end users. Smart grids can know about power failures once the smart meter stops sending meter data, as all the components have IP addresses and are capable of two-way communication.
By Smart Citizen Services Type, Smart Healthcare segment to grow at the highest CAGR during the forecast period
The Smart Healthcare segment is projected to grow at the highest CAGR during the forecast period. Smart healthcare involves the use of solutions such as remote patient monitoring, remote medical assistance, simultaneous monitoring and reporting, patient care workflow automation, notifications and alert management, real-time staff tracking, mobile health, smart hospitals, smart pills, and enhanced chronic disease treatment.
Research Coverage
The Smart Cities Market is segmented into focus area, smart transportation, smart buildings, smart utilities, smart citizen services, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; solutions and services; key strategies; new product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated within the Smart Cities Market.
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The following key vendors are profiled in the report:
- Siemens (Germany)
- Cisco (US)
- Hitachi (Japan)
- IBM (US)
- Microsoft (US)
- Schneider Electric (France)
- Huawei (China)
- Intel (US)
- NEC (Japan)
- ABB (Switzerland)
- Ericsson (Sweden)
- Itron (US)
- Oracle (US)
- Fujitsu (Japan)
- Honeywell (US)
- Accenture (Ireland)
- Vodafone (UK)
- AWS (US)
- Thales (France)
- Signify (Netherlands)
- Kapsch (Austria)
- Motorola (US)
- GE (US)
- Google (US)
- TCS (India)
- AT&T (US)
- Nokia (Finland)
- Samsung (South Korea)
- SAP (Germany)
- TomTom (Netherlands)
- AppyWay (UK)
- KETOS (US)
The breakup of the profiles of the primary participants is given below:
- By Company: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
- By Designation: C-Level Executives – 50%, Directors – 40%, Others* – 10%
- By Region: APAC – 35%, Europe – 30%, North America – 25%, and RoW** – 10%
Note: Tier 1 companies have revenues over USD 1 billion; tier 2 companies have revenues ranging from USD 500 million to USD 1 billion; and tier 3 companies have revenues ranging from USD 100 million to USD 500 million
*Others include consultants, subject matter experts, and thought leaders
**RoW includes MEA and Latin America
The report would help market leaders and new entrants in the following ways:
- It comprehensively segments the Smart Cities Market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
- It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
- It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launch, product enhancement, partnerships, mergers, and acquisitions.
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About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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