Global Smart Cities System Market Overview:
Smart cities are defined as cities that are built with smart and intelligent solutions and new technologies. Smart cities are achieved through the implementation of smart parameters such as smart energy, smart building, smart transportation, smart healthcare, smart governance, smart education, and smart citizen participation. Furthermore, the global smart cities market is expanding rapidly as a result of massive investments by public and private players, including governments from around the world. Smart city solutions are further subdivided into hardware and software components. The smart city system gives various benefits as it enables cross departmental visibility, faster and better decision making, and crisis management.
|Unit||Value (USD Million)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
Smart Cities System Market Dynamics:
- Government Initiatives for Smart City Programs
- Growing Need for Public and Communications Infrastructure
- High Costs Associated with the Installation of Software
- Technological Complexity associated with the Smart Cities System
|Road Blocks / Challenges|
- Lack of Funding and Adequate Infrastructure
- High Requirement of Repair and Maintenance of Smart System
|Gaps & Opportunities|
- Growing Adoption of Connected and Smart Technologies
- Improvement in Living Standards of Individuals
The market for Smart Cities System is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share.
Some of the key players profiled in the report are AT&T (United States), Azure (United States), Cisco Kinetic (United States), Oracle (United States), Intel Corporation (United States), AWS Smart Cities (United States), FLIR Systems (United States), Compta Emerging Business (Portugal), TIBCO Software (United States) and Zencity (Israel). Additionally, following companies can also be profiled that are part of our coverage like Davra (United States) and PLVision (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Smart Cities System market by 2027. Considering Market by Technology , the sub-segment i.e. Artificial Intelligence (AI) will boost the Smart Cities System market. Considering Market by Component, the sub-segment i.e. Hardware will boost the Smart Cities System market. Considering Market by Deployment , the sub-segment i.e. On premise will boost the Smart Cities System market. Considering Market by End User, the sub-segment i.e. Government will boost the Smart Cities System market.
Latest Market Insights:
On 13 September 2021, Itron has acquired Smart Efficient Lighting Control (SELC), a market leader in the smart lighting controls industry, marking an exciting milestone in Itron's smart cities journey. The acquisition combines a leading Networked Lighting Controller (NLC) supplier with a world-leading provider of smart city and industrial IoT solutions.
On 26 May 2021, AT&T and JBG Smith are working together to create the first 5G smart city “at scale” in the US. Using both sub-6 GHz and mmWave 5G spectrum, AT&T will commence infrastructure deployments in the first half of 2022. AT&T and JBG Smith are looking to create a prototype for the smart city of the future – by utilising 5G, cloud/edge compute, IoT and AI – and to develop an exemplary, unified customer experience. With the selected city in Northern Virginia already a hub for the defence and cybersecurity industries, both parties are confident that this new initiative will act as a springboard for further innovation in the smart city sector.
What Can be Explored with the Smart Cities System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart Cities System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart Cities System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Cities System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Cities System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.