A recent report on the smart cities market by Fortune Business Insights says the need for an intellectually connected city with advanced communication technologies is important for today’s world and this propels the need for smart cities. The report titled, “Smart Cities Market Size, Share and Global Trend by Functional Area (Smart Education, Smart Energy, Smart Infrastructure, Smart Healthcare, Smart Building, Others), And Geography Forecast till 2026” provides a detailed analysis of the smart cities market with special emphasis on factors propelling and repelling the growth of the market.
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Key Market Driver –
- Development of new sources of renewable energy
- Growth of digitalized and automated solutions
- Increasing initiatives from the government to deploy smart components such as smart parking system, smart lighting system, and others
Key Market Restraint –
- Massive cost in deploying this solution in the entire city and complexity in connectivity
Top Players Overview:
- AT&T Inc.
- Cisco Systems Inc.
- General Electric
- Hitachi Ltd.
- Huawei Technologies Co. Ltd.
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Siemens AG
- Schneider Electric SE.
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Key Industry Developments
- August, 2018 –Austria has launched the “STRAT.AT 2020” plan in collaboration with BMVIT and the Association of Austrian Cities and Towns to encourage increased usage of these funds for implementing smart cities measures.
- September 2018 – Hitachi Vantara merged with Colorado Smart Cities Market Alliance to establish smart city solutions for the Colorado city. Colorado Smart Cities Alliance is a union of Colorado municipalities, federally funded research labs, educational institutions, and leading private sector technology companies.
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Key Segmental Overview:
- By Functional Area
- Smart Education
- Smart Energy
- Smart Energy Storage
- Power Electronics
- Smart Infrastructure
- Smart Lighting
- Smart Transportation
- Smart Water Management
- Smart Stadium
- Smart Public Safety and Security
- Smart Healthcare
- Connected Hospitals
- Smart Building
- Building Facility Management Systems
- Buildings Safety and security
- By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Major Table of Content For Smart Cities Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Smart Cities Market Analysis, Insights and Forecast, 2026
- North America Smart Cities Market Analysis, Insights and Forecast, 2026
- Europe Smart Cities Market Analysis, Insights and Forecast, 2026
- Asia Pacific Smart Cities Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Smart Cities Market Analysis, Insights and Forecast, 2026
- Latin America Smart Cities Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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