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DUBLIN--(BUSINESS WIRE)--Sep 26, 2022--
The "Global Smart City Market Research and Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global smart city market is anticipated to grow at a CAGR of around 18.1% during the forecast period.
Companies Mentioned
A smart city is an urban area that utilizes different types of data for managing assets and resources effectively. Data is gathered from devices, citizens, and assets, the data is then analyzed for monitoring and managing traffic, transportation system, waste management, water supply network, and other related services.
Smart cities are developed using the latest technologies such as data analytics, IoT, wireless sensor networks, and cloud computing. Government initiatives and innovations & technologies are key motivators of the market. Energy conservation and waste management solutions are other factors that are attracting investors and consumers to the market.
Furthermore, changing the standard of living in emerging economies such as India and Japan, growing IT infrastructure, and investments are further expected to boost the global smart city market. For instance, as per the Consumer Technology Association, the worldwide spending on smart city developments is expected to reach USD 34.35 billion, by 2020.
However, certain factors are hampering the growth of the market. High cost of implementation and maintenance, lack of awareness among masses, and reluctance to adopt are estimated to be the major constraint in the growth of the market. Besides these petty constraints, the smart city market is yet to explore its full potential. The emerging Asia-Pacific region and smart city initiatives in Europe and the US are developing numerous expansion opportunities for the growth of the market.
COVID-19 Impact on Global Smart City Market
During the COVID-19 pandemic, various governments across the globe have been deploying smart city technologies to keep a record of the patients affected by the COVID-19 pandemic, also to keep track of the spreading and number of people dying.
To fulfill the medical requirements, and to supply vaccines and related doses, advanced smart city platforms incorporated with technologies such as heat maps, GPS systems, and aerial surveillance has been used. Moreover, smart city projects play a significant role in the COVID-19 prevention and control process. In COVID-19 pandemic prevention and control practice, related technologies and projects, samples, represented by "smart cities" have been applied to the pandemic prevention and spreading.
The Report Covers
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on key players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Smart City Market, By Component
5.1.1. Hardware
5.1.2. Software
5.1.3. Others
5.2. Global Smart City Market, By Application
5.2.1. Building And Infrastructure
5.2.2. Transportation System and Services
5.2.3. Safety and Security
5.2.4. Communication
5.2.5. Energy Management
5.2.6. Waste Management
5.2.7. Healthcare System and Services
5.2.8. Water Management
5.2.9. Others
6. Regional Analysis
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/gd5gzq
View source version on businesswire.com:https://www.businesswire.com/news/home/20220926005685/en/
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KEYWORD:
INDUSTRY KEYWORD: DATA MANAGEMENT PUBLIC POLICY/GOVERNMENT PUBLIC SAFETY TECHNOLOGY OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE MOBILE/WIRELESS COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY BUILDING SYSTEMS URBAN PLANNING LANDSCAPE ARCHITECTURE SECURITY ARTIFICIAL INTELLIGENCE IOT (INTERNET OF THINGS) OTHER TECHNOLOGY TELECOMMUNICATIONS WEB3 SOFTWARE INTERNET HARDWARE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/26/2022 12:20 PM/DISC: 09/26/2022 12:21 PM
http://www.businesswire.com/news/home/20220926005685/en