Persistence Market Research presents an all-encompassing study of the global smart cities market titled ‘Smart Cities Market 2016-2026’. This study demonstrates the market dynamics and trends globally across seven key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa, which influence the current nature and future status of the global smart cities market over the forecast period. In this report, Persistence Market Research gives an overall view of the global smart cities market and also throws light on the market sentiment and overall segments of this market. The period of assessment of this report is for 10 years and this report enlightens the client on the crucial aspects of the global smart cities market in the coming decade. An in-depth study of the market was done by the highly qualified team of analysts of Persistence Market Research and information was collated on the drivers and trends that will influence the market in the coming decade. The report gives a detailed description of the effect these drivers and restraints will have on the global smart cities market and this gives a crystal clear picture to the client regarding how the market will shape up in the future.
This research report provides a detailed analysis of the global smart cities market and offers insights on the various factors driving popularity of smart cities. The report includes an extensive analysis of key industry drivers, restraints, market trends and market structure. The market study provides a comprehensive assessment of key stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on applications and components across different regions globally.
The report starts with an overview of the global smart cities market in terms of value. In addition, this section includes analysis of key trends, drivers and restraints from the supply, demand and economy side, which are influencing the global smart cities market. Impact analysis of key growth drivers and restraints based on the weighted average model is also included in this report.
Key segments covered
Key regions covered
A detailed analysis has been provided for every segment in terms of market size analysis for smart cities across the different regions. The section provides a detailed analysis covering key trends, absolute dollar opportunity and BPS analysis. The next section provides a detailed analysis of smart cities across various countries in the region. It provides a market outlook for 2016–2026 and sets the forecast within the context of smart cities, including latest technological developments as well as offerings in the market. This study discusses key trends within countries contributing to the growth of the market and analyzes the degree to which drivers are influencing this market in each region.
The final section of the report includes a competitive landscape to provide clients with a dashboard view based on categories of providers in the value chain, their presence in the smart cities portfolio and key differentiators. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included within the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the global smart cities market.
To calculate the global smart cities market size, the report considers investments towards smart cities by leading players in the market, along with the monetary investments by governments based in various regions. Forecasting models are developed in order to quantify the impact of each of these factors on industry spending. A forecast scenario for each causative factor is then created and the contribution of each factor on a prospective basis is identified.
The forecast presented here assesses the total revenue by value across the market. In order to offer an accurate forecast, the report starts by sizing the current market, which forms the basis of how the global smart cities market will develop in the future. Given the characteristics of the market, the report triangulates the outcome of different types of analyses based on technology trends.
Key metrics covered
The report not only provides forecasts in terms of CAGR, but also analyses the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the market. As previously highlighted, the global smart cities market is split into a number of segments. All segments in terms of application and component, and based on different regions are analyzed in terms of basis point share to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends of the global smart cities market. Another key feature of this report is the analysis of all key market segments in terms of absolute dollar opportunity, critical in assessing the level of opportunity that providers can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global smart cities market.
Global smart cities market to be a trillion dollar market by 2026
Leveraging the power of information technology, advances in communication and the Internet of Things, smart cities will be at the vanguard of intelligent and environmentally sustainable living in which all the facets like transportation, healthcare, security, water supply, waste management, etc. are interconnected to make the city a better place to live. Essentially, the main idea of a smart city is to make the entire functioning and governance of a city people centric so that people can directly participate in the key decisions affecting the city and get their grievances resolved by the power of ICT as soon as possible.
The main components of a smart city consist of building, transportation, energy, healthcare, education, security, water network system and governance. There is a huge investment potential in these sectors in order to enable them to be smart and people centric. Billions of dollars are going to be spent in these and other sectors in order to make any city smart. Persistence Market Research in this report has quantified the region wise investment potential in the smart city arena. In the sections below, we shall take a sneak preview of the sectors that are going to power the global smart cities market.
Persistence Market Research forecasts the global smart cities market to grow from US$ 540.6 Bn in 2015 to US$ 3,482.2 Bn by 2026. The market is projected to witness a CAGR of 18.8% during the assessment period. A large amount of investment is being made in the first half of the forecast period due to which the market is expected to witness a high growth rate.
Key takeaways of the application segment of the global smart cities market
High deployment rate of smart meters, SCADA systems, energy storage devices and electric distribution technologies will drive the smart energy segment during the projected period
One of the most important drivers for the smart building segment is increasing demand for smart homes