A new market study, titled “ Global Smart Cities: Growing New IT Markets” has been featured on WiseGuyReports.
The global market for smart city information and communications technologies has continued to expand at a rapid pace. Total market value will increase to an estimated $REDACTED billion in 2018 from around $REDACTED billion in 2017. BCC Research estimates that the market will reach $REDACTED billion in 2023 at acompound annual growth rate (CAGR) of REDACTED%. In short, the market has continued to gain momentum in the last few years as demand for more effective citywide management methods becomes morepopular.
Regionally, North America will continue to dominate the global market for smart city technologies, with more than REDACTED% market share through 2023. Technology ubiquity, advanced investment and organizational models in cities led by New York, Los Angeles and Chicago in the U.S. and Toronto, Vancouver and Calgary in Canada will continue to drive investment. BCC Research estimates that investment rate in the region will increase from $REDACTED billion in 2018 to $REDACTED billion in 2023, growing at a CAGR ofREDACTED% during that period.
Competing next for scale are the markets of Europe and Asia-Pacific, where regional and local governments are driving smart city technology adoption. Early investments in Asia-Pacific will boost market value in the short term, at nearly $REDACTED billion in 2018, helped by the aggressive growth investments by major countries. Asia-Pacific’s CAGR of REDACTED% will allow it to surpass Europe in the lateryears of the forecast period, despite major E.U. initiatives, such as energy management, that will drive a REDACTED% CAGR in the region.Report Scope
This report covers the global market for smart city technologies and regional analysis of North America, Latin America, Europe, Asia-Pacific, and the Rest of World. Component segments include communications, hardware, sensors, and software as well as in-depth market size and forecast for key end-user segments including energy management, water management, transportation management, assisted living, e-government, and waste management.
- 47 data tables
- An overview of the new and evolving information and communication technology investment driven by smart city applications
- Analyses of global market trends, with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Characterization and quantification of market potential for smart city applications by geographical regions, technology solutions, and end-user segments, including energy management, water management, transportation management, assisted living, e-government, and waste management
- Information on major factors influencing the smart cities market, such as the presence of a creative class, the quality of and dedicated attention to the urban environment, the level of education, multimodal accessibility, the use of information communication technologies for public administration, and how these factors correlate into urban wealth
- Analysis of important growth opportunities, including new transport management systems, smart grids, water monitoring systems, and energy-efficient buildings
- Company profiles of major players in the smart cities market, including Accenture, General Electric, Hitachi, Microsoft, Siemens, and the Toshiba GroupABB TROPOS
CISCO SYSTEMS INC.
HUAWEI TECHNOLOGIES CO. LTD.
SCHNEIDER ELECTRIC SE
SILVER SPRING NETWORKS
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