Smart Cities Market, by Component (Hardware, Software, and Services), by Application (smart Security, Smart Building, Smart Transportation, Smart Governance, Smart Energy, Smart Healthcare, Smart Water Network System, and Smart Education), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

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2. SMART CITIES MARKET
ANALYSIS
Smart Cities Market, by Component (Hardware,
Software, and Services), by Application (smart
Security, Smart Building, Smart Transportation,
Smart Governance, Smart Energy, Smart Healthcare,
Smart Water Network System, and Smart Education),
and by Geography (North America, Europe, Asia
Pacific, and Latin America, Middle East & Africa) -
Size, Share, Outlook, and Opportunity Analysis, 2019
- 2027

3. • Market Overview
The global smart cities market is accounted US$ 1069.4 Bn in
terms of value in 2019.
Market Drivers
• Rampant urbanization worldwide is expected to drive growth of
the global smart cities market during the forecast period
• Proactive government initiatives are expected to propel the
global smart cities market growth over the forecast period

4. Figure 1. Market Share

5. Market Dynamics-Restraints
Integration of new technologies within existing
infrastructure is expected to restrain growth of
the global smart cities market during the forecast
period
Growing susceptibility to cybercrimes and
privacy violations due to digitization is expected
to hinder the global smart cities market growth
over the forecast period

6. Market Opportunities
• Increasing need for waste management platform
is expected to present lucrative business
opportunity for market players
• Growing awareness regarding sustainable living
is expected to present major growth
opportunities in the near future

7. Figure 2. Market – Opportunity
Analysis

8. Market Trends
• Collaborations and partnerships between government and
service providers
• Increasing adoption of green building is a major trend in
the market
• Segment information:
• In global smart cities market, by application segment, the smart
energy sub-segment dominated the global market in 2018,
accounting for 18.2% share in terms of value, followed by
smart security, smart transportation, smart governance, smart
building, smart healthcare, smart water network system, and
smart education, respectively.

9. Figure 3. Market Segmentation

10. Competitive Section
Key players involved in the global smart cities market
are Microsoft Corporation, Toshiba Corporation,
AT&T, Inc., SAP SE, Cisco Systems, Inc., Philips
Lighting, Ericsson, Huawei Technologies Co., Ltd.,
Panasonic Corporation, General Electric, Oracle
Corporation, Hitachi Data Systems Corporation, and
IBM.

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