According to the market research report released by Technavio, the global smart city market is expected to accelerate at a CAGR of over 22% during the forecast period. Enhanced global broadband connectivity is one of the key factors triggering the growth of the market.
This research report titled ˜Global Smart City Market 2018-2022 provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global smart city market into the following application:
- Smart governance and education
- Smart energy
- Smart healthcare
- Smart security
In 2017, the smart governance and education segment accounted for 25% of the global market and is projected to reach 27% by 2022, exhibiting almost 2% increase in market share.
Global smart city market: Top emerging trend
The proliferation of smart city projects in emerging economies is an emerging trend in this market space. Developed economies in the Americas and Europe have been working on developing smart cities for a decade and have already implemented many projects. Emerging economies like India are still in the planning phase and are launching many pilot projects. For instance, the government of India has announced pilot smart city projects to be implemented in 100 cities across the country. The rapid rate of urbanization in countries like India is also a major factor responsible for the roll-out of smart-city projects, as smart city infrastructure help end-users respond faster to the challenges being faced by urban settlements. Hence, the number of smart cities in emerging economies is expected to grow rapidly during the forecast period.
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Technavios sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavios report provides expert market research on the following topics:
- Market Outline
- Global Smart City Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, EMEA)
- Key leading countries
- Market segmentation by application (smart governance and education, smart energy, smart healthcare, and smart security)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (ABB, Alphabet, Cisco Systems, IBM, Microsoft, and Oracle)
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