Global Smart Cities Market Size Gartner, Industry, Segments, Development, And Region Forecast To 2029

The "Global Smart cities Market Research" report provides a thorough understanding of the growth and operation of the Global Smart cities Market size both globally and locally. This appraisal report is the culmination of years' worth of detailed information about market components, along with some estimates. The market report includes the major market participants, such as producers, organizations, associations, providers, etc. in the first place. This will make it easier for the buyers to comprehend the strategies and actions used by these players to establish a strong footing and highlight the fierce competition within the global Smart cities Market.

Smart cities market was valued at USD 457.63 billion in 2021, and is expected to reach USD 1,291.75 billion by 2029, exhibiting a CAGR of 13.85 % during the forecast period (2022-2029)

Smart cities Market Overview:

A "smart city" is described as an innovative city that uses information and communications technologies (ICT) and other methods to enhance quality of life, operational efficiency, and competitiveness of the city in order to meet the needs of the present and future generations in terms of economics, society, and the environment. The worldwide smart city market is anticipated to reach USD 1,291.75 billion in sales by 2029, with half of those cities located in North America and Europe. Emerging technologies like blockchain, artificial intelligence, 5G, and edge computing are essential for the growth of smart cities. Massive amounts of data must be produced, analyzed, and exchanged in order for smart cities to be developed.

The purpose of this research is to provide a detailed analysis of the Smart cities market by segment and geography. The article goes into great detail about the primary factors influencing the Smart cities market's growth. The research also includes a comprehensive assessment of the market's value chain.

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Market Scope:

We investigated the Smart cities Market from every angle, including both primary and secondary research methods. This improved our grasp of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, consumer behaviours, and so on. Following that, the data is collated and evaluated using a variety of market estimation and data validation approaches. In addition, we have an in-house data forecasting engine that predicts market growth until 2029.

Segmentation:

In 2021, the smart transportation sector accounted for the biggest market share of almost 20%. An increase in the number of vehicles on the road, an impending scarcity of traffic data management, and an ageing infrastructure are further factors anticipated to support segment growth. An alternative traffic management system has arisen as a result of the need to control traffic flow on highways and in cities. The role of technology in shaping the future of the market for intelligent transportation systems has been made clear by the adoption of smart technologies and a range of initiatives by both public and private entities.

Key Players:

Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the global markets are determined by using secondary sources and verified through the primary sources.

The following are the key players of the Smart cities market-

• ABB Limited
• AGT International
• AVEVA Group plc.
• Cisco Systems, Inc.
• Ericsson
• General Electric
• Honeywell International Inc.
• International Business Machines Corporation
• Itron Inc.
• KAPSCH Group
• Huawei Technologies Co., Ltd.
• Microsoft Corporation
• Oracle Corporation
• Osram Gmbh
• SAP SE
• Schneider Electric SE
• Siemens AG
• Telensa
• Verizon
• Vodafone Group plc

Regional Analysis:

North America (the United States, Canada, and Mexico), Europe (Germany, France, the United Kingdom, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, and Colombia), the Middle East, and Africa have all been researched (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). The research provides regional competitive situations. These insights assist market participants in improving tactics and creating new chances to achieve extraordinary results.

COVID-19 Impact Analysis on Smart cities Market:

The Global Smart cities Market Research Report provides an overview of the industry based on important factors such as market size, sales, sales analysis, and key drivers. During the projected period, the market is predicted to increase significantly (2021-2029). This report also includes the most recent market impacts of COVID-19. The pandemic's spread has had a wide-ranging impact on people's lives all around the world. As a result, markets have been compelled to embrace new norms, trends, and strategies. Essentially, the study report attempts to give a picture of the market's initial and future estimates.

Key Questions Answered in the Smart cities Market Report are:

• What are the new competitive developments in the Smart cities market?
• What is the market size and share of Smart cities?
• How can I get sample reports/company profiles of the Smart cities market?
• Who are the potential customers of the Smart cities market?
• Which are the leading players in the Smart cities market?
• How can I get company profiles on the top ten players of the Smart cities market?
• Which region is and will provide more business opportunities for Smart cities in the future?
• Who are the service providers of the Smart cities industry?
• What are the key growth strategies of Smart cities industry players?

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