Global Smart Cities Market, Technology (AI, Big Data Analytics, Cloud Technology, Quantum Computing), Component (Hardware, Software), Application (Smart Transportation, Smart Utilities), Deployment (Cloud, On-Premise), Estimation & Forecast 2030 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Smart Cities market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Smart Cities market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Market Introduction
The global smart cities market held a market value of USD 114,901.8 Million in 2020 and is forecasted to reach USD 670,424.1 Million by the year 2030. The market is expected to register a CAGR of 20.5% during the forecast period.
Smart cities utilize information and communication technology to improve operational efficiency, share information with public and provide a better quality of government service and citizen welfare. The market is majorly driven by the growing need for public safety and communication infrastructure. Furthermore, increasing number of government initiatives and PPP models for smart cities, are also expected to contribute to the market growth. For instance, in 2018-19, Government of India allocated around USD 828.86 million in its budget for development of 5 new smart cities. This budget increased by 7% to about USD 866.61 million in 2019-20. Additionally, rising focus on environmental sustainability and investments in 5G technologies for smart city developments are also factors leading to positive influence on the market.
Growth Influencers:
Growing requirement of communication infrastructure and public safety
Public safety is an ongoing challenge for various cities across the globe. However, as urban populations are growing, smart cities are leveraging novel digital technologies for monitoring and optimising energy and water consumption for creating effective transportation infrastructures, enhancing citizen access to services, and delivering city-wide connectivity required by businesses as well as citizens. For instance, the City of San Diego in 2016 invested in smart streetlight technology and installed more cost effective as well as brighter LED lights in its neighbourhoods. Earlier the city used the sensor data collected by the lighting system to inform municipal decisions around traffic flow and pedestrian crossings. As of 2019, the smart streetlight technology along with the video management system was used by San Diego. By August 2019, the city only had 1800 officers for a population of 1.3 million spread over 300 square miles. It aimed at using this data collected by the smart streetlights for aiding to provide evidence for violent crime investigations and fatal or near fatal car collisions.
Rising number of government initiatives and PPP models for smart cities
Various government initiatives along with public private partnerships are boosting the market growth. For instance, China has various smart city initiatives which are combining metering devices, embedded sensors, and other such monitoring technologies with artificial intelligence analysis and big data processing for assisting in managing the public spaces as well as the cities. As of 2020, the country has near about 800 smart cities pilot programs in planning or processes. This is about half of the total smart cities across the globe. Such initiatives are anticipated to boost the market growth over the forecast period.
Growing focus on environmental sustainability
Apart from advantages such as time, safety, health, jobs, connectedness, and cost of living, smart cities market also has potential to be realized in the environmental sector. Smart applications contributing most to environmental advancements include improvements in saving water & energy, improving mobility, and reducing waste. Smart city solutions such as energy use optimization, air quality monitoring, and water, waste, & electricity tracking have potential to 30 to 130 fewer kgs of waste produced per person per year, to reduce 10-15% fewer CHG emissions, and to save 25 to 80 litres of water saved per person per day. Such applications of smart cities to improve environmental sustainability are expected to fuel the market growth.
5G technology – Key enabler of smart city developments
The 5G technology is expected to enable a new kind of communication network to interconnect everything. This is set to impact societies and economies to provide the necessary communication infrastructure required by various smart city applications. One of the many smart city applications that can be fulfilled using 5G technologies is the intelligent transporting system (ITS). The technology had laid a foundation for building smart technology, productive industry, and innovative ways of communicating. Also, 5G acts as a communication network to support the IoT infrastructure required by various smart city vertical industries. Therefore, various applications of 5G technology to enable many smart city developments are expected to boost the market growth.
Segments Overview:
The global smart cities market is segmented into technology, component, application, and deployment.
By technology
• Artificial Intelligence
– Deep Machine Learning
– Artificial Neural Network
– Voice Recognition
– Pattern Recognition
– Natural Language Processing
– Others
• Big Data Big Data Analytics
• Cellular Technology
– 5G Technology
– Others
• Cloud Technology
• Edge Computing
• High Performance Computing
• Internet of Things (IoT)
– Satellite Network
– Cellular Network
– Radio Frequency Identification
– Near Field Communication
– Wi Fi
– Quantum Computing
• Others
The internet of things (IoT) segment accounts for the largest share of more than 30%. Rising adoption of IoT technology in fields such as transportation is expected to contribute to the market growth. The cloud technology segment is expected to grow at the fastest CAGR owing to growing advancements in the segment.
By Component,
• Hardware
o Camera
o Sensors/Detectors
o Meters
o Vehicles
o Smart Robots
o Others
• Software
o Cloud (IoT) Platform
o Public
o Private
o Data Management & Analytics
o Cyber Security
o Remote Monitoring
• Services
o Consulting
o System Integration and Deployment
o Support and Maintenance
o Managed Services
The hardware segment accounted for the largest share of around 40% owing to the growing demand for connected hardware devices. On the other hand, the software segment is anticipated to grow at the fastest growth rate over the forecast period owing to increasing technological advancements.
By Application,
• Smart Transportation
o Parking Management
o Ticketing & Travel Management
o Traffic Management
o Passenger Information Management System
o Freight Information System
o Other Smart Transportation Systems
• Smart Utilities
o Energy management
o Advanced Metering Infrastructure
o Smart Grid
o Water Management
o Distribution Management
o Other Smart Utilities
• Smart Governance
o E Governance Solutions
o Smart Public Safety
o Law Enforcement
o City Planning
o Other Governance Services
• Smart Home & Building
o Building Automation System
o Energy Management Systems
o Parking Management System
o Emergency Management System
o Other Smart Building System
• Smart Citizen Service
o Smart Education
o Smart Healthcare
o Emergency Response System
o Video Surveillance System
o Assisted Living Solution
o Other Citizen Services
• Smart Mobility
o Electric Vehicle Charging
o Tunnel Management
o Tolling Management
o Other Mobility Solutions
• Other Applications
The smart citizen service segment accounted for the largest market share of more than 20%. Most of the government organizations prioritise citizen safety which results into the market growth. Smart governance segment is anticipated to grow at the fastest CAGR. The application enables government organizations to improve accountability, transparency, collaboration, security, and citizens’ participation, which positively influences the market growth.
By Deployment,
• Cloud
• On-Premise
The cloud segment accounted for the largest market share owing to its increasing usage in smart city applications. The segment is also anticipated to grow at the fastest CAGR over the forecast period.
Regional Overview
On regional basis, the global Smart Cities market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.
The North American region accounted for the largest market share of more than 30% in the global market owing to the well-developed ICT infrastructure and the presence of prominent technology vendors. Also, the presence of various international councils in the region is also anticipated to drive the market growth.
The Asia Pacific region holds the second largest market share as well as is expected to grow at the fastest growth rate owing to rising focus on the development of digital infrastructure and presence of fast-developing economies, such as India and China, where their governments are investing heavily to develop smart cities.
Competitive Landscape
Key players operating in the global Smart Cities market include ABB Ltd., Accenture Plc., Alphabet Inc., AT&T, Cisco Systems Inc., Ericsson, Foxconn Electronics Inc., Fujitsu Ltd., General Electric Company, Hitachi, Honeywell, Huawei Technologies, IBM Corporation, INTEL Corporation, LG Electronics Inc., Microsoft Corp., Oracle Corp., Qualcomm Technologies Inc., Schneider Electric SE, Siemens AG, and Toshiba Corporation, among others.
The cumulative market share of the four major players is near about 43.5%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in June 2021, Fujitsu collaborated with the industrial city of Kawasaki for developing a new smart city fabric using the latest connectivity, compute, and analytics solutions.
The global Smart Cities market report provides insights on the below pointers:
• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Smart Cities market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Smart Cities market report answers questions such as:
• What is the market size and forecast of the Global Smart Cities Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Smart Cities Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart Cities Market?
• What is the competitive strategic window for opportunities in the Global Smart Cities Market?
• What are the technology trends and regulatory frameworks in the Global Smart Cities Market?
• What is the market share of the leading players in the Global Smart Cities Market?
• What modes and strategic moves are considered favorable for entering the Global Smart Cities Market?
What is market research report?
Market research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research. The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process. The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage. Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more. These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry. Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
Browse market information, tables and figures extent in-depth TOC, The latest independent research document on various market development activities and business strategies such as new product/services development, Joint Ventures, partnerships, mergers and acquisitions, etc. In order to provide a more informed view, a market company profiles include Business Overview, Product / Service Offerings, SWOT Analysis, Segment & Total Revenue, Gross Margin and % Market Share. This report explores market definitions, overview, classification, segmentation, inclusive of market type and applications followed by product specifications, manufacturing initiatives, pricing structures, raw material sourcing and supply chain analysis.
About Data Collection and Research Methodology: Majorly data is collected via primary sources that includes interviews and survey with industry experts from core and related industries, and manufacturers and part suppliers involved in supply chain. Additionally, secondary sources are also utilized like annual reports, whitepapers, press releases etc.
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
Study Explore :
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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The study objectives of this report are:
- To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast.
- To understand the structure of market by identifying its various subsegments.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
The Study Explore COVID 19 Outbreak Impact Analysis
- What should be entry strategies, countermeasures to economic impact, and marketing channels?
- What are market dynamics?
- What are challenges and opportunities?
- What is economic impact on market?
- What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
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Key Points Covered in Smart Cities Market Report:
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Smart Cities market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Smart Cities Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
……..and view more in complete table of Contents
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