Smart Cities Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

[220+ Pages Report] According to the report published by Facts and Factors, the global Smart Cities market in 2019 was approximately USD 83.10 Billion. The market is expected to grow at a CAGR of 20% and is anticipated to reach around USD 297.7 Billion by 2026. This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the Smart Cities industry. The report analyzes and declares the historical and current trends analysis of the Smart Cities industry and subsequently recommends the projected trends anticipated to be observed in the global Smart Cities market during the upcoming years.

The global Smart Cities market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire Smart Cities market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the Smart Cities industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the Smart Cities industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the global Smart Cities market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Smart Cities industry. The global Smart Cities market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Smart Cities sector. Key strategic developments in the global Smart Cities market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the global Smart Cities market are appropriately highlighted in the report.

The Smart Cities market is witnessing a significant growth owing to the high demand for public safety, rising government initiatives & PPP models, increasing the use of connected and smart technologies in smart cities initiatives, optimizing energy utilization, and citizen empowerment & engagement. The rising awareness about smart everything is the reason behind the concept of smart cities. The smart cities concept is likely to help the public gain access to all the intermediary technologies. The smart cities market is basically driven by the support provided by city governments, central/federal governments, and other governing authorities.

The increasing adoption of advanced technologies & innovations for increasing the standard of living is the reason primarily boosting the growth of the Smart Cities market. Additionally, the growing population & urbanization and rising demand for sustainable infrastructure further help propel the market. Furthermore, the government across the world is trying to adopt mobility, utility management, and safety through smart cities initiatives. On the other hand, the increasing greenhouse gas emissions and traffic congestion are surging the demand for adoption of intelligent mobility and efficient energy management applications, thereby bolstering the global Smart Cities market. The advancements taking place in the healthcare, transport, energy, governance, and intelligence sector is likely to provide lucrative opportunities to the smart cities market in the coming years. Moreover, the growing use of Public-Private Partnership (PPP) models, cognitive computing, Internet of Things, cloud computing, and open data is predicted to drive the execution of smart cities concept.

The global Smart Cities market research report delivers an acute valuation and taxonomy of the Smart Cities industry by practically splitting the market on the basis of different applications and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Smart Cities industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Smart Cities industry is provided for the leading economies of the world.

The global Smart Cities market is segmented based on Application. By application, the global Smart Cities market is divided into Smart Governance, Smart Building, Environmental Solution, Smart Utilities, Smart Transportation, and Smart Healthcare.

Report Scope

Some of the essential players operating in the global Smart Cities market, but not restricted to include

•  ABB Limited
•  Accenture
•  Schneider Electric SE
•  Siemens AG
•  Huawei Technologies Co. Ltd.
•  Cisco Systems, Inc.
•  IBM Corporation
•  Oracle Corporation
•  Microsoft Corporation
•  Honeywell International Inc.
•  Hitachi, Ltd.
•  Intel Corporation.

The taxonomy of the Smart Cities industry by its scope and segmentation is as follows:

Application Segmentation Analysis

• Smart Governance
  • City Surveillance
  • Command & Control Solution
  • E-governance
  • Smart Lighting
  • Smart Infrastructure
• Smart Building
• Environmental Solution
• Smart Utilities
  • Energy Management
  • Water Management
  • Waste Management
• Smart Transportation
  • Intelligent Transportation System
  • Parking Management
  • Smart Ticketing & Travel Assistance
• Smart Healthcare

Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa