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Development Growth in Global Smart Cities Market Size & Share Will Reach to USD 297.7 Billion By 2026: Facts & Factors

According to the [210+ Pages] research study; the global Smart Cities Market in 2019 was approximately USD 83.10 Billion. The market is expected to grow at a CAGR of 20% and is anticipated to reach around USD 297.7 Billion by 2026. Top market players are ABB Limited; Accenture; Schneider Electric SE; Siemens AG; Huawei Technologies Co. Ltd.; Cisco Systems, Inc. and others.

/EIN News/ -- New York, NY, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Smart Cities Market By Application (Smart Governance, Smart Building, Environmental Solution, Smart Utilities, Smart Transportation, and Smart Healthcare), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.

“According to the research study, the global Smart Cities Market was estimated at USD 83.10 Billion in 2019 and is expected to reach USD 297.7 Billion by 2026. The global Smart Cities Market is expected to grow at a compound annual growth rate (CAGR) of 20% from 2019 to 2026”.

The Smart Cities market is witnessing significant growth owing to the high demand for public safety, rising government initiatives & PPP models, increasing use of connected and smart technologies in smart cities initiatives, optimizing energy utilization, and citizen empowerment & engagement. The rising awareness about smart everything is the reason behind the concept of smart cities. The smart cities concept is likely to help the public gain access to all the intermediary technologies. The smart cities market is basically driven by the support provided by city governments, central/federal governments, and other governing authorities.

Request Your Free Sample Report of Smart Cities Market @ https://www.fnfresearch.com/sample/global-smart-cities-market-by-application-smart-governance-803                         

(The free sample of this report is readily available on request).

Our Free Sample Report Includes:            

  • 2020 Updated Report Introduction, Overview, and In-depth industry analysis
  • COVID-19 Pandemic Outbreak Impact Analysis Included
  • 190+ Pages Research Report (Inclusion of Updated Research)
  • Provide Chapter-wise guidance on Request
  • 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of table & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Key Questions Answered in this Report

1) What was the impact of COVID-19 on the Smart Cities Market?

2) What is the market size, share of the Smart Cities Market?

3) Who are the top market players in Smart Cities Market?

4) What will be the future market of the Smart Cities Market?

Key Offerings:

  • Market Size & Forecast by Revenue | 2020−2026
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
  • Competitive Landscape – Top key vendors and other prominent vendors

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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact

Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.

We at Facts and Factors (http://www.fnfresearch.com) understand how difficult it is for you to plan, strategize, or make business decisions, and as such, we have your back to support you in these uncertain times with our research insights. Our team of consultants, analysts, and experts has developed an analytical model tool for markets that helps us to assess the impact of the virus more effectively on the industrial markets. We are further implementing these insights into our reports for a better understanding of our clients.

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Market Drivers:

The increasing adoption of advanced technologies & innovations for increasing the standard of living is the reason primarily boosting the growth of the Smart Cities market. Additionally, the growing population &urbanization, and the rising demand for sustainable infrastructure further help propel the market. Furthermore, the government across the world is trying to adopt mobility, utility management, and safety through smart cities initiatives. On the other hand, the increasing greenhouse gas emissions and traffic congestion are surging the demand for the adoption of intelligent mobility and efficient energy management applications, thereby bolstering the global Smart Cities market. The advancements taking place in the healthcare, transport, energy, governance, and intelligence sector is likely to provide lucrative opportunities to the smart cities market in the coming years. Moreover, the growing use of Public-Private Partnership (PPP) models, cognitive computing, Internet of Things, cloud computing, and open data is predicted to drive the execution of the smart cities concept.

Top Market Players:

  •  ABB Limited
  •  Accenture
  •  Schneider Electric SE
  •  Siemens AG
  •  Huawei Technologies Co. Ltd.
  •  Cisco Systems, Inc.
  •  IBM Corporation
  •  Oracle Corporation
  •  Microsoft Corporation
  •  Honeywell International Inc.
  •  Hitachi, Ltd.
  •  Intel Corporation.

To know an additional revised 2020 list of market players, request a sample report: https://www.fnfresearch.com/sample/global-smart-cities-market-by-application-smart-governance-803

Market Segment Dominance:

  • Smart utility category is expected to dominate the global Smart Cities market during the forecast period

The deployment of numerous technologies in the various cities to easy billing and distribution of electricity, water, and fuel (LPG) among the residents for effective monitoring will further encourage the concept of smart cities. Apart from this, the high demand for energy grids and smart meters has escalated the requirement for energy utilization control and the development of more sustainable communities.

  • Smart transportation category exhibits significant growth during the forecast period

The smart transportation category is anticipated to grow at a faster rate owing to the increasing government and private funding in the transportation sector. Moreover, the rising consumption & generation of renewable energy coupled with the newer infrastructures or technologies across the globe further drive the growth of this category.

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The Smart Cities market is witnessing significant growth owing to the high demand for public safety, rising government initiatives & PPP models, increasing the use of connected and smart technologies in smart cities initiatives, optimizing energy utilization, and citizen empowerment & engagement. The rising awareness about smart everything is the reason behind the concept of smart cities. The smart cities concept is likely to help the public gain access to all the intermediary technologies. The smart cities market is basically driven by the support provided by city governments, central/federal governments, and other governing authorities.

The increasing adoption of advanced technologies & innovations for increasing the standard of living is the reason primarily boosting the growth of the Smart Cities market. Additionally, the growing population & urbanization, and the rising demand for sustainable infrastructure further help propel the market. Furthermore, the government across the world is trying to adopt mobility, utility management, and safety through smart city initiatives. On the other hand, the increasing greenhouse gas emissions and traffic congestion are surging the demand for the adoption of intelligent mobility and efficient energy management applications, thereby bolstering the global Smart Cities market. The advancements taking place in the healthcare, transport, energy, governance, and intelligence sector is likely to provide lucrative opportunities to the smart cities market in the coming years. Moreover, the growing use of Public-Private Partnership (PPP) models, cognitive computing, Internet of Things, cloud computing, and open data is predicted to drive the execution of the smart cities concept.

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The global Smart Cities market research report delivers an acute valuation and taxonomy of the Smart Cities industry by practically splitting the market on the basis of different applications and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Regional Dominance:

  • Europe is expected to dominate the global Smart Cities market

Europe is expected to hold the majority of the market share of the global Smart Cities market during the forecast period owing to the increasing European Union’s initiatives and development projects commenced by local governing bodies in the region. The increasing funding and financial models, developed infrastructure and technology, and governance structures are factors anticipated to fuel the European Smart Cities market growth.

Browse the full “Smart Cities Market By Application (Smart Governance, Smart Building, Environmental Solution, Smart Utilities, Smart Transportation, and Smart Healthcare), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” report at https://www.fnfresearch.com/global-smart-cities-market-by-application-smart-governance-803

This report segments the global Smart Cities market as follows:

Global Smart Cities Market: Application Segmentation Analysis

  • Smart Governance
    • City Surveillance
    • Command & Control Solution
    • E-governance
    • Smart Lighting
    • Smart Infrastructure
  • Smart Building
  • Environmental Solution
  • Smart Utilities
    • Energy Management
    • Water Management
    • Waste Management
  • Smart Transportation
    • Intelligent Transportation System
    • Parking Management
    • Smart Ticketing & Travel Assistance
  • Smart Healthcare

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