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Global Smart Cities Market to reach USD 992.59 billion by 2027.

Global Smart Cities Market Size study, by Smart Transportation (Component, Type), by Smart Building (Component, Type), by Smart Utilities (Component, Type), by Smart Citizen Services (Smart Healthcare, Smart Education, Smart Public Safety, Smart Street Lighting, E-Governance) and Regional Forecasts 2021-2027

Product Code: OIRBC-20901960
Publish Date: 30-11-2021
Page: 200

Global Smart Cities Market is valued approximately USD 401.58 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 13.8 % over the forecast period 2021-2027. Smart Cities are cities which use Information and Communication Technology (ICT) to share information with public to improve operational efficiency and provide better public service, and citizen welfare. The demand for efficient and fast transport and commuting will fuel the smart cities market growth. Also, increasing demand for healthy environment with efficient energy consumption and growing government investments in infrastructure will be major driving factors for smart cities market. For instance, according to Ministry of New and Renewable Energy (MNRE), India and France have formed an International alliance in November 2015, namely, International Solar Alliance (ISA), with the aim of investing USD 1000 billion by 2030 for deployment of solar energy. However, high cost of implementation impedes the growth of the market over the forecast period of 2021-2027. Also, with the increasing deployment of 5G network, the demand for Smart Cities is likely to increase during the forecast period.

The regional analysis of global Smart Cities market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is a significant region across the world in terms of market share owing to the presence of advanced infrastructure and top market players. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as growing urbanization and increasing government initiatives to boost the adoption of smart cities would create lucrative growth prospects for the Smart Cities market across Asia-Pacific region.

Major market player included in this report are:
Schneider Electric

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Smart Transportation:
By Smart Building:
By Smart Utilities:
By Smart Citizen Services:
Smart Healthcare
Smart Education
Smart Public Safety
Smart Street Lighting
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global Smart Cities Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Smart Cities Market, by Region, 2019-2027 (USD Billion)
1.2.2. Smart Cities Market, by Smart transportation, 2019-2027 (USD Billion)
1.2.3. Smart Cities Market, by Smart Building, 2019-2027 (USD Billion)
1.2.4. Smart Cities Market, by Smart Utilities, 2019-2027 (USD Billion)
1.2.5. Smart Cities Market, by Smart Citizen Services, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Smart Cities Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Smart Cities Market Dynamics
3.1. Smart Cities Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Increasing demand for efficient and fast transport & commuting Increasing demand for healthy environment and efficient energy consumption Increasing government investments in Infrastructure
3.1.2. Market Challenges High cost of implementation
3.1.3. Market Opportunities Increasing deployment of 5G network
Chapter 4. Global Smart Cities Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Cities Market, by Smart Transportation
5.1. Market Snapshot
5.2. Global Smart Cities Market by Smart transportation, Performance – Potential Analysis
5.3. Global Smart Cities Market Estimates & Forecasts by Smart transportation 2018-2027 (USD Billion)
5.4. Smart Cities Market, Sub Segment Analysis
5.4.1. Component
5.4.2. Type
Chapter 6. Global Smart Cities Market, by Smart Building
6.1. Market Snapshot
6.2. Global Smart Cities Market by Smart Building, Performance – Potential Analysis
6.3. Global Smart Cities Market Estimates & Forecasts by Smart Building 2018-2027 (USD Billion)
6.4. Smart Cities Market, Sub Segment Analysis
6.4.1. Component
6.4.2. Type
Chapter 7. Global Smart Cities Market, by Smart Utilities
7.1. Market Snapshot
7.2. Global Smart Cities Market by Smart Utilities, Performance – Potential Analysis
7.3. Global Smart Cities Market Estimates & Forecasts by Smart Utilities 2018-2027 (USD Billion)
7.4. Smart Cities Market, Sub Segment Analysis
7.4.1. Component
7.4.2. Type
Chapter 8. Global Smart Cities Market, by Smart Citizen Services
8.1. Market Snapshot
8.2. Global Smart Cities Market by Smart Citizen Services, Performance – Potential Analysis
8.3. Global Smart Cities Market Estimates & Forecasts by Smart Citizen Services 2018-2027 (USD Billion)
8.3.1. Smart Healthcare
8.3.2. Smart Education
8.3.3. Smart Public Safety
8.3.4. Smart Street Lighting
8.3.5. E-Governance
Chapter 9. Global Smart Cities Market, Regional Analysis
9.1. Smart Cities Market, Regional Market Snapshot
9.2. North America Smart Cities Market
9.2.1. U.S. Smart Cities Market Smart Transportation breakdown estimates & forecasts, 2018-2027 Smart Building breakdown estimates & forecasts, 2018-2027 Smart Utilities breakdown estimates & forecasts, 2018-2027 Smart Citizen Services breakdown estimates & forecasts, 2018-2027
9.2.2. Canada Smart Cities Market
9.3. Europe Smart Cities Market Snapshot
9.3.1. U.K. Smart Cities Market
9.3.2. Germany Smart Cities Market
9.3.3. France Smart Cities Market
9.3.4. Spain Smart Cities Market
9.3.5. Italy Smart Cities Market
9.3.6. Rest of Europe Smart Cities Market
9.4. Asia-Pacific Smart Cities Market Snapshot
9.4.1. China Smart Cities Market
9.4.2. India Smart Cities Market
9.4.3. Japan Smart Cities Market
9.4.4. Australia Smart Cities Market
9.4.5. South Korea Smart Cities Market
9.4.6. Rest of Asia Pacific Smart Cities Market
9.5. Latin America Smart Cities Market Snapshot
9.5.1. Brazil Smart Cities Market
9.5.2. Mexico Smart Cities Market
9.6. Rest of The World Smart Cities Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Cisco Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Siemens
10.2.3. Hitachi
10.2.4. IBM
10.2.5. Microsoft
10.2.6. Schneider Electric
10.2.7. Huawei
10.2.8. Intel
10.2.9. NEC
10.2.10. ABB
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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