Smart cities market was valued at USD 457.63 billion in 2021, and is expected to reach USD 1,291.75 billion by 2029, exhibiting a CAGR of 13.85 % during the forecast period (2022-2029)
Smart Cities Market Overview:
To find the overall size of the Smart Cities market by nations and segments, the research conducted a micro level investigation of each country. The local and global markets' sizes are estimated using a bottom-up methodology. By conducting a micro-level analysis of each nation, it is possible to determine how much the unorganised market contributes to the size of the larger market. The Smart Cities market dictates the thorough analysis carried out by the company organisation to comprehend the Smart Cities market's drivers, restraints, and opportunities. Interviews with significant local businesspeople follow, and the results are then verified. For secondary research and analysis, both paid and unpaid data bases are utilized. The provision and consumption information for each player is gathered from public databases, private databases, and, in the case of publicly listed enterprises, the earnings data of the company. If financial documents from businesses are not made available to the public, they may be requested through the local government's budget division.
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Smart Cities Market Dynamics:
The development of smart cities depends on smart energy solutions. The cost savings from smart metres could reach USD 157 billion by 2035 as utilities monitor, predict, and prepare for the erratic nature of current trends in energy production and consumption. In China, India, Japan, and South Korea, 572.3 million smart power metres will be installed between 2021 and 2025. Energy networks could be equipped with sensors that collect enormous amounts of data that utility companies have previously used in conjunction with smart city technologies. This data can reveal details about a grid's condition as well as the patterns of different homes' energy use. Planners, decision-makers, and designers of a Smart City can benefit from big data analytics on the information gathered by smart grids in the different ways.
Smart Cities Market Segmentation:
In 2021, the smart transportation sector accounted for the largest market share of over 20%. An increase in the number of vehicles on the road, an impending shortage of traffic data management, and an ageing infrastructure are additional factors anticipated to support segment growth. An alternative traffic management technology has emerged as a result of the need to control traffic flow on roads and in cities. The role of technology in shaping the future of the market for intelligent transportation systems has been made clear by the adoption of smart technologies and a range of initiatives by both public and private organisations.
Smart Cities Market Key players:
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Smart Cities Market Research methodology:
To calculate and validate the size of the Smart Cities market, top-down and bottom-up approaches are utilised. Players rigorously abide by numerous industry classification criteria in order to create an exhaustive list of functioning and important players. A thorough validation test is also carried out to determine which businesses on the market are the most pertinent for the investigation. Subscription databases like Factiva, Bloomberg, and others are used to order priority lists according to the revenue from the most recent quarter. Last but not least, the questionnaire was designed and specifically developed to meet all criteria for collection of primary data by appointment only, focusing on the main target categories. This helps us collect data on player earnings, operating expenses, profit, and the development of various goods and services, among other things. The World Bank, associations, business websites, SEC filings, OTC BB, USPTO, EPO, annual reports, press releases, and close to 70–80% of the data are acquired from primary sources before being confirmed by a range of secondary sources.
Smart Cities Market Regional Analysis:
North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America are the five major geographic regions of the Smart Cities market.
Key Features of the Reports:
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Maximize Market Research provides B2B and B2C research on 12,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Bever
Smart Cities Market , Smart Cities Market Size , Smart Cities Market Share , Smart Cities Market Trends
Nov 25, 2022
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