Global Smart Cities Market Analysis By Application (Smart Energy Management, Smart Security, Industrial Automation, Smart Healthcare, Smart Buildings, Smart Homes, Smart Transportation), Industry Trends, Estimation & Forecast, 2015 - 2024

November 2017

 ERC 9812

The Smart city is a city which built with integration of information and communication technology and Internet of Things (IoT) to enhance quality of life and performance. The city is developed based on parameters including smart energy, smart governance, smart building, smart mobility, smart infrastructure, smart education and smart citizen. The same city helps to achieve a goal of efficient energy management, improve the quality of life and safety of urban citizens. Governments in different countries have been investing to improve the quality of life and protect the environment.

 The enormous growth in urban population have been placing greater stress on existing urban infrastructure, increasing public sectors needs for efficient management of cities. The unprecedented growth in data generated from IoT devices such as sensors, smart devices and smart lights as well as ongoing technological advancement in terms of wireless communication have driven implementation of the things such as smart grid, smart transportation and smart governance among others.

Factors such as technological advancements in the field of cloud, mobile, automation and machine learning and increasing concerns about environment protection with increasing urbanization have been driving the market growth. Smart city implementation have proved a boon for minimizing the energy consumption. For instance, the smart meter, which can be integrated with in-home display displaying real-time information over usage of gas and electricity consumption, helps to monitor and control the energy devices through energy management systems.

 Though, the technological infrastructure across the world is growing at significant pace, the emerging countries still needs substantial development in the area of telecom and networking infrastructure. Moreover, the lack of standardized regulatory framework for energy sectors has been limiting the market growth. Government initiatives for developing green building structure have been proving significant boost for smart city market. Apart from this, developing economies and emerging hotspots for smart city technology growth would create lucrative opportunities in the coming years.           

Global smart city market is segmented based on component and geography. Based on component, the market is segmented into smart energy management, smart security, industrial automation, smart buildings, smart homes, smart healthcare, smart transportation and others. Smart buildings segment is expected to grow at significant rate owing to implementation of building automation, facility management, parking management and in-building communication systems. With focus on reducing energy consumption and concerns over increasing environmental wastes, the investment in green building structures is growing in the regions such as North America, Europe and some countries of Asia-Pacific.

 Geographically, the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). Europe followed by Asia-Pacific constitutes the major share in  market share in global smart city market. Key players operating in the market include IBM, Schneider Electric, Oracle, Cisco, Siemens, Microsoft, Huawei, Honeywell International, SAP, Toshiba, and Hitachi, ABB and General Electric.

Smart City Market Segmentation

The market is segmented on the basis of Component, Industry and Geography.

Market by Component:

• Smart Energy Management

• Smart Security

• Industrial automation

• Smart Buildings

• Smart Healthcare

• Smart transportation

• Smart Homes

• Others

Market by Geography:

• North America

• Europe

• Asia-Pacific

• Rest of the World (RoW)

Key Market Players:

• IBM Corp.

• Schneider Electric

• Oracle Corp.

• Cisco, Inc.

• Siemens

• Microsoft Corp.

• Huawei

• Honeywell International

• SAP

• Toshiba

• Hitachi

• ABB Ltd.

• General Electric.

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    What Information does this report contain?

    • What was the market size of the Smart Cities Market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Smart Cities Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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