The Global Smart Cities Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The smart cities market was valued at USD 739.78 billion in 2020 and is expected to reach USD 2036.10 billion by 2026 and grow at a CAGR of 18.22% over the forecast period (2021 – 2026). The increase in adoption of green technology will drive the market in the forecast period.
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ABB Ltd, Cisco Systems Inc., Emerson Electric Co., IBM Corporation, Ericsson Inc., Schneider Electric SE, General Electric Co., Siemens AG, Huawei Technologies Co. Ltd, Honeywell International Inc., Hitachi Ltd, Nokia Corporation, Koninklijke Philips NV and others.
Key Market Trends
Urbanization to Drive the Smart Cities Market Growth
– According to the United Nations Populations Fund, in 2014, 54% of the world’s population lived in urban areas, which is approximately 3.3 billion people. By 2030, roughly 67% of the total population is expected to live in urban areas.
– Hence, urbanization demands smart technology initiatives driving market growth. With rapid urbanization primarily taking place in developing countries, the growth of cities and economic development are inextricably linked.
– For example, the rise of Chinas middle class, a distinctly urban phenomenon has lifted 500 million people out of poverty in less than 30 years and is a testament to the power cities uniquely possess to elevate living standards.
– The explosive population growth and dynamic shift in urban sprawl, coupled with the economic growth of megacities in the emerging economies, would pose a variety of opportunities for companies operating in different sectors.
– The megacities from the emerging economies are expected to become the largest markets for existing premium products and technologies, while their developed counterparts are expected to witness a trend of sustainable measures.
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Major Points Covered in TOC:
Overview: Along with a broad overview of the global Smart Cities market, this section gives an overview of the report to give an idea about the nature and contents of the research study.
Analysis on Strategies of Leading Players: Market players can use this analysis to gain competitive advantage over their competitors in the Smart Cities market.
Study on Key Market Trends: This section of the report offers deeper analysis of latest and future trends of the Smart Cities market.
Market Forecasts: Buyers of the report will have access to accurate and validated estimates of the total market size in terms of value and volume. The report also provides consumption, production, sales, and other forecasts for the Smart Cities market.
Regional Growth Analysis: All major regions and countries have been covered in the report. The regional analysis will help market players to tap into unexplored regional markets, prepare specific strategies for target regions, and compare the growth of all regional markets.
Segmental Analysis: The report provides accurate and reliable forecasts of the market share of important segments of the Smart Cities market. Market participants can use this analysis to make strategic investments in key growth pockets of the Smart Cities market.
Finally, the Smart Cities Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.
Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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