Smart Cities Market worth $873.7 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 12, 2021 -- According to a research report "Smart Cities Market by Focus Area, Smart Transportation, Smart Buildings, Smart Utilities, Smart Citizen Services (Public Safety, Smart Healthcare, Smart Education, Smart Street Lighting, and E-Governance), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Smart Cities Market size to grow from USD 457.0 billion in 2021 to USD 873.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period.
The Smart Cities Market is fuelled by the need for efficient management and utilization of resources. Smart cities are designed for optimum usage of space and resources along with an efficient and optimum distribution of benefits. It also improves connectivity at various levels among citizens, as well as between the administration and population through smart transportation solutions.
Browse in-depth TOC on "Smart Cities Market"
330 – Tables
66 – Figures
328 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=542
By Smart Building Solutions, the Safety and Security Management segment to hold the largest market size during the forecast period
The Safety and Security Management segment of the Smart Cities Market is projected to hold the largest market size in 2021. The Safety and Security Management solution is further divided into Access Control System, Video Surveillance System, and Safety System. Safety and Security management systems mainly deal with security-related operations of buildings that help authorities or administrators to respond to emergency situations quickly. The system handles every phase of the emergency response, from logging the emergency situation to informing the appropriate personnel about the size and severity of the incident, so that quick and effective response can be ensured.
By Smart Transportation Solutions, the Passenger Information segment to grow at the highest CAGR during the forecast period
Under the Smart Transportation Solutions, the Passenger Information sub-segment is expected to grow at the highest CAGR during the forecast period. Passenger Information Systems provide real-time information on transit services, such as current location, estimated arrival and departure time, and the causes for disruption. Along with system reliability, safety, and general appearance, the ability of operators to provide accurate and current information on arrival and departure times offers passenger satisfaction.
Request a Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=542
By region, North America to account for the largest market size during the forecast period
North America holds a strong position in the global Smart Cities Market, due to the presence of most of the top Smart city solution vendors such as Cisco, IBM, Microsoft, Oracle, and Intel. Network operators in this region constantly invest in expanding and upgrading their telecom networks and transition toward 5G infrastructure, leveraging technologies such as cloud edge computing and network slicing, thereby actuating the adoption of smart cities at a low cost and for strategic urban management. Rapid digitalization across industry verticals, the increasing adoption of smart connected devices, such as IoT, and the rising technological advancements have fueled the growth of the Smart Cities Market in this region.
Major vendors in the Smart Cities Market include Siemens (Germany), Cisco (US), Hitachi (Japan), IBM (US), Microsoft (US), Schneider Electric (France), Huawei (China), Intel (US), NEC (Japan), and ABB (Switzerland).
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports& Consulting
Smart Transportation Market by Transportation Mode (Roadways, Railways, Airways, and Maritime), Solution (Smart Ticketing, PIS, Freight Management), Service, Communication Technology, Application, and Region - Global Forecast to 2025
IoT in Smart Cities Market by Solution (Remote Monitoring, Network Management, Reporting, and Analytics), Service, Application (Smart Transportation, Smart Building, Smart Utilities, and Smart Citizen Services), and Region - Global Forecast to 2025
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/smart-cities-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/smart-cities.asp