Technavio’s Smart City Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

landscape seller

The market structure is expected to remain fragmented during the forecast period. Vendors deploy various organic and inorganic growth strategies to compete in the market.

ABB Ltd. and Accenture Plc and Alphabet Inc. and Cisco Systems Inc. and International Business Machines Corp. and LG Electronics Inc. and Microsoft Corp. and Oracle Corp. SAP SE and Siemens AG are among the few major vendors vying to maintain their market position.

Several market players are engaging in strategic partnerships and joint ventures as well as launching premium products to advance their game in the smart city industry. For example, In July 2021ASTI Mobile Robotics Group was acquired by ABB Ltd. to lead the next generation of flexible automation. in a June 2021, the company has partnered with Axpo on a project aimed at making green hydrogen accessible and affordable.

Show more About the sellers market scene with a comprehensive list of sellers and their offers.

Market Segmentation Key

  • Segmentation by application:
    • Smart Infrastructure:
      • Smart infrastructure entails the digitization of energy systems, buildings, and industries to improve efficiency and sustainability in the way people live and work. Many internal functions, such as heating, ventilation, lighting, security and other building systems can be automated in smart buildings thanks to modern installation and technological systems.
      • Implementation of smart infrastructures will be enhanced through increased industrial development, commercialization, knowledge of efficient use of energy and improvement of buildings. Rapid technological developments will accelerate the adoption of smart infrastructure, as systems may use the Internet of Things (IoT), analytics, and cloud computing to monitor, control, and operate buildings more effectively.
    • smart energy
    • smart navigation
    • smart protection
    • Aharon

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Regional Market Outlook

Europe It will contribute to 37% of the market growth during the forecast period. The growth of this region can be attributed to the availability of high-speed wireless networks, the increase of connected devices such as smartphones, and the penetration of the Internet of Things.

Regardless of the regions, if we look at the market growth at the country level, US, UK, GermanyAnd Spain, And Japan It will contribute to achieving the highest growth in the market.

Download our free sample report For more key points about the regional market share of most of the above countries.

The latest trends, leading the global smart city market

  • market driver:
    • Increase in the standardization and modernization of information technology:

The increasing convergence of enterprise IT infrastructures, such as data centers and network systems, is prompting C-suite executives to deploy advanced IT service delivery models, such as shared and managed IT services. The acceptance of IT services and the deployment of smart city projects to achieve greater connectivity and sustainability is driven by the continuous change in technology and the demand for IT modernization in multiple industrial sectors such as manufacturing, BFSI, telecommunications and healthcare. Moreover, IT services and policies are adopted by the public sector as they help in integrating IT related operational procedures and business strategy while also reducing costs.

  • Market trend:
    • The spread of smart city projects in emerging economies:

For more than a decade, advanced economies have been in North America And Europe Work has been done on building smart cities and has already completed several projects. In terms of smart city technologies, the Asia Pacific region is the fastest growing region. India And ChinaFor example, they are still in the planning stages and are undertaking a large number of pilot projects. The increasing rate of urbanization in countries such as India It is a key factor driving the implementation of smart city initiatives, as smart city infrastructure allows end users to respond more quickly to the challenges faced by urban settlements. As a result, during the forecast period, the number of smart cities in emerging economies is expected to increase rapidly, which will boost the growth of the smart city market during the forecast period.

Find additional information on various market drivers and other trends mentioned on our site Free sample report.

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Smart City Market Scope

Report coverage

details

page number

120

base year

2020

prediction period

2021-2025

Growth Momentum and CAGR

Acceleration at a compound annual growth rate of 19.43%

Market Growth 2021-2025

151.99 billion dollars

Market Structure, Market Structure

fragmented

Annual Growth (%)

18.40

Regional Analysis

Europe, North America, Asia Pacific, South America, Middle East and Africa

Market share performance

Europe with 37%

Main consuming countries

United States, United Kingdom, Germany, Spain and Japan

Competitive scene

Leading companies, competitive strategies, scope of consumer participation

An overview of the main companies

ABB Ltd. and Accenture Plc and Alphabet Inc. and Cisco Systems Inc. and International Business Machines Corp. and LG Electronics Inc. and Microsoft Corp. and Oracle Corp. and SAP SE and Siemens AG

market dynamics

Key market analysis, market growth triggers and obstacles, analysis of fast-growing and slow-growing segments, analysis of COVID-19 impact, recovery and future consumer dynamics, market status analysis for forecast period

field of personalization

If our report doesn’t include the data you’re looking for, you can access our analysts and customize the segments.

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Technavio is a global leader in technology research and consulting. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and develop effective strategies to improve their market positions. With over 500 dedicated analysts, Technavio’s reporting library consists of more than 17,000 reports and statistics, covering 800 technologies, spanning across 50 countries. Their client base consists of organizations of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in current and potential markets and to assess their competitive positions within changing market scenarios. .

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