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Global Smart City Market 2018-2022 to Post a CAGR of 22% Over the Next Four Years | Technavio

September 18, 2018

LONDON--(BUSINESS WIRE)--Sep 18, 2018-- analysts forecast the global smart city market to grow at a CAGR of over 22% during the forecast period, according to their latest market research report.

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Technavio has published a new market research report on the global smart city market for the period 2018-2022. (Graphic: Business Wire)

The proliferation of smart city projects in emerging economies is one of the major trends being witnessed in the . Developed economies in the Americas and Europe have been working on developing smart cities for a decade and have already implemented many projects. Emerging economies such as India are still in the planning phase and are launching many pilot projects. For instance, the government of India has announced pilot smart city projects to be implemented in 100 cities across the country. The rapid rate of urbanization in countries like India is also a major factor responsible for the roll-out of smart-city projects, as smart city infrastructure will help end-users respond faster to the challenges being faced by urban settlements. Hence, the number of smart cities in emerging economies is expected to grow rapidly during the forecast period.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global smart city market is the reduced prices of connected devices:

Global smart city market: Reduced prices of connected devices

IoT systems have revolutionized the connected network ecosystem. Smart city infrastructure is based on an efficient, connected network system. Reduction in the cost of IoT sensors and associated systems and the declining cost of broadband services are factors that are encouraging the development of smart cities across the world. Wireless sensor nodes consist of low power radio and power management mechanisms to gather, store, and process the information throughout different nodes in a network. These sensors can be deployed in hostile and hazardous environments and are scalable as they avoid the setup of dense wired systems. Hence, they save cost for companies as well. Therefore, these sensors are adopted in IoT systems as they can be monitored, controlled, and deployed without hassles.

According to a senior analyst at Technavio for research on machine to machine (M2M) and connected devices, “Apart from reduced prices of connected devices, factors such as increasing presence of strategic alliances and enhanced global broadband connectivity are factors that are expected to boost the growth of the global market over the next five years.”

Global smart city market: Segmentation analysis

The global smart city market research report provides market segmentation by application (smart governance and education, smart energy, smart healthcare, smart security, others) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The EMEA region held the largest share of the market in 2017, accounting for close to 43% share, followed by the Americas and APAC respectively. However, during the forecast period, the APAC region is expected to show the highest incremental growth followed by the Americas.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180918005349/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: BUILDING SYSTEMS TECHNOLOGY HARDWARE NETWORKS MOBILE/WIRELESS URBAN PLANNING CONSTRUCTION & PROPERTY

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 09/18/2018 03:06 AM/DISC: 09/18/2018 03:06 AM

http://www.businesswire.com/news/home/20180918005349/en

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