Scope of the Study
The smart community is defined as the geographical area that is ranging in size from the neighborhood to a multi-county region wherein the residents, governing institutions, and organizations are using information technology for transforming the regions in substantial ways. This co-operation amongst the government, educators, industry, and the community, is very much required instead of the individual groups which are acting in isolation. These technological enhancements that are undertaken as part of this effort would further result in the fundamental, rather than incremental, changes. Information Communication Technology (ICT) is exactly changing each and every aspect of the life of the citizens, parents, friends, employees, employers, and of the members of any type of community. This helps in changing the patterns of the professional as well as social lives. It is not surprising that a much great emphasis is put on to the possibilities which this new technological development could offer for the local communities, their governments, and the citizens so as to increase the quality of life, job opportunities, education, and general prosperity. Presently, this concept of a Smart Community is broadly used. The occurrence of Smart Communities is on a global scale in the sense that it exists all around the world as well as in the locals since it is mostly based on local initiatives.
The market study is being classified by Type (Smart Community Grid, Smart Community Building, Smart Community Transportation and Others), by Application (Large-Sized Cities, Medium-Sized Cities and Other) and major geographies with country level break-up.
Honeywell (United States), Cisco Systems (United States), Microsoft Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), Wipro (India), IBM Corporation (United States), Siemens (Germany), Schneider Electric (France), Toshiba (Japan), ABB (Switzerland), Accenture (Ireland), Ericsson (Sweden), ESRI (United States), Hitachi (Japan) and Hewlett-Packard (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Huawei (China), NEC Corp (Japan) and NTT DATA (Japan).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Smart Communities market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Smart Communities market by Type, Application and Region.
On the basis of geography, the market of Smart Communities has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Rising Government Initiatives for Smart City Programs
- Growing Need for Much Improved and Efficient Public and Communications Infrastructure
- A Rise in the Adoption of Artificial Intelligence (AI) and Internet of Things (IoT)
- Privacy and Security Concerns Related to the Usage of Smart Devices
- Rapidly Growing Urban Population
- The Rising Markets of IoT and Its Applications in the Smart Communities
- Lack of Funding and Adequate Infrastructure
Key Target AudienceService Providers of Smart Communities, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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