Smart Cities Market: America followed by European countries are the witness growth at high CAGR

Smart cities can be defined as innovative cities having entire urban eco-system in terms of infrastructure and services. The smart city project ensures improved modernization in individual’s lifestyles. There is high scope for the Smart Cities Market across the globe during 2015-2020.

Scope and Regional Forecast of the Smart Cities Market:

According to the IndustryARC research analysis studies on the Smart Cities Market, the main advantages of smart cities are consumption of less energy, better-insulated building and prudent utilization of power.

Europe is the leading market for the Smart Cities Market as the cities including London, Vienna, Paris and few others have already started investing significantly in several aspects of Smart Cities. This region has also huge investments in many research and development program to innovate new technologies though 2020.

Asia Pacific and North America are expected to have high growth in the Smart Cities Market during 2015-2020 due to high population of these regions and increasing investment for the development of smart grid and intelligent cities during 2015-2020.

Segmentation and Key Players of the Smart Cities Market:

The Smart Cities Market is segmented into various categories in the IndustryARC marketing research report by segment, by solutions and by geography.

By segment: Smart Transportation, Smart Buildings and Infrastructure, Smart IT and Communications, Smart Healthcare, Smart Energy, Smart Education & Governance and Smart Environment

By solutions:

Smart Transportation (Passenger Information Systems, Traffic Management Systems, Integrated Supervision Systems, Collision Avoidance Systems and Ticketing Management Systems),

Smart Building (Building Energy Management Systems, Building Communication Systems, Parking Management, Building Automation Systems (Physical Security Systems, Life Security Systems and Facilities Management Systems), Water Management and Building Network Technologies),

Smart IT and Communications (Mobile Technologies, RF Mesh Networks and PLC Networks),

Smart Healthcare (Automatic Tracking Systems, Medical Alert Systems, Medical Communication Systems and Others),

Smart Energy (Smart Meters, Sensors and Smart communication networks),

Smart Education & Governance (Hardware, Software, Services and Education and Governance Content) and

Smart Environment (Renewable Energy, Water/ Waste Water/ Sanitation and Others)

By geography: North America, South America, Europe, Asia Pacific and ROW

The key players in the Smart Cities Market according to the IndustryARC research report are as follows:

  • ABB Ltd (Switzerland)
  • Honeywell International Inc. (U.S.)
  • Cisco Systems Inc. (U.S.)
  • Siemens AG (Germany)
  • Tyco International Plc (Ireland)

The Smart Cities Market is a rapidly growing market with many countries heavily investing for development of their cities using smart city solutions across the globe. This market is expected to witness high growth due to the rising demand for the population for convenient lifestyle and countries improving living standards of the people in various regions across the globe during 2015-2020.

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