Smart City Market Overview
The rise in the adoption of smart living is highly progressing in today's generation. The smart cities concept has become popular due to the increased awareness of smart stuff by which people lead convenient lives. Moreover, the Smart City Market is highly driven by increased investments by the governments, central and federal governments, and dedicated governing organizations. Other factors like financing and funding models, infrastructure investments, technological ecosystems, and governance arrangements are playing prominent roles in the deployment of smart cities, which will fuel up the market's growth during the forecast period.
The major growth drivers are driving the Smart City Market globally. The investment in infrastructure projects and planning of telecommunications infrastructure, and their usage for public safety, is one of the primary driving factors of the Smart City Market. The rise in the adoption of smart technologies in developed and developing countries worldwide is propelling the market's growth.
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Regional Analysis
According to geographical updates, the Smart City Market shows its widespread growth in major regions such as North America, Asia Pacific, Middle East and Africa, Europe, and South America.
North America is the dominating market region, accounting for the highest percentage of sales compared to other regions. The region is progressing highly due to well-developed ICT infrastructure and federal and municipal governments' partnership with ICT vendors.
