Skip to main content

Smart Cities Market Revenue, Share, Competitor Analysis, Demand and Opportunities by 2023

Image result for smart citiesThe global smart cities market is growing at a CAGR above 20% during 2018 - 2023 and will reach $2578.0 billion by 2023. Due to significant growth in automation technologies such as internet of things (IoT) and adoption of cloud based technologies, the global smart cities market is gaining huge traction. In addition, effective city asset management for public welfare, substantial operational cost savings, and automated public data generation applications contribute to the growth of global smart cities market.

Request for a free sample copy of this research report @ https://www.psmarketresearch.com/market-analysis/smart-cities-market/report-sample

Hardware component generated larger revenue as compared to the software component, in the global smart cities market. Further, among applications, smart governance segment leads the global smart cities market. However, the market is expected to witness highest growth for smart building, during the forecast period. Traffic management category contributed largest revenue for smart transportation, however, the market is expected to grow fastest for transport data management, during the forecast period.

One of the key factors driving the demand for hardware component is the growing adoption of IoT enabled devices globally. Most of the IoT applications gather critical information pertaining to the physical world either through sensors or actuators to manipulate the physical world around it. With the emerging growth in the global smart cities market, the adoption of sophisticated hardware components is expected to increase.

Geographically, Europe has been the largest smart cities market, whereas Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. The anticipated growth of the market in Asia-Pacific can be attributed to factors such as advancement in automation technologies, growing industry digitalization, rapid growth in advance software development industry, and increasing adoption of data analytics services by real estate builders and improving IT infrastructure in the region.

Some of the key players operating in the smart cities market are Cisco Systems Inc., Microsoft Corporation, IBM Corporation, Oracle Corporation, Google, Inc., General Electronics (GE) and ABB Group.

Comments

Post a Comment

Popular posts from this blog

Conditional Access System (CAS) Market Size, Share, Trends, Key Players, Demand and Opportunities by 2023

Conditional access systems (CAS) refer to content protection solutions used widely to control unauthorized contents or intruders to access to audio and video content. Generally, these systems are installed at the receiving end of audio and video such as digital set-tops boxes of the consumers. One of the most dominant factors driving the  conditional access system market  is the analog to digital transformation of the TV transmission in developing countries of the Asia Pacific. Request for a free sample copy of this research report @  https://www.psmarketresearch.com/market-analysis/conditional-access-system-market/report-sample With the growing demand of digital setup boxes from tier2 and tier3 cities of India and China the global conditional access market is expected to grow in coming years. Moreover the advancement in wireless broadcasting and media industry in the developed markets in Europe and North America is also expected to increase the demand of control access system
Post a Comment
Read more

Asia-pacific (APAC) Commercial Refrigeration Equipment Market Size, Share and Growth Drivers by 2023

The  APAC commercial refrigeration equipment market  is projected to reach $24.4 billion by 2023 and and is forecasted to witness a CAGR of 9.3% during 2018–2023. Growing food and beverage industry, and increasing urbanization are the key factors driving market growth. Request for a free sample copy of this research report @  https://www.psmarketresearch.com/market-analysis/asia-pacific-commercial-refrigeration-equipment-market/report-sample On the basis of end user, the APAC commercial refrigeration equipment market has been categorized into hotels/restaurants & catering, supermarkets, hypermarkets, convenience stores, e-commerce and others, wherein ‘others’ include hospitals; educational institutions; large pharmaceutical stores; and medical and life sciences. In terms of value, China dominated the APAC commercial refrigeration equipment market, during the historical period and is expected to continue holding the largest share, during the forecast period. This is attribut
Post a Comment
Read more

Distributed Fiber Optic Sensor Market Analysis, Future Trends, Key Players and Growth Drivers by 2023

The global  distributed fiber optic sensor market  is likely to reach $1,970.1 million by 2023, growing at a CAGR of 15.0% during the forecast period. Distributed fiber optic sensors overcome the built-in constraints of traditional technologies such as thermocouples and strain gauges. Distributed fiber optic sensors enable monitoring solutions with exceptional benefits for the safety of society and critical assets, especially when monitoring in inhospitable environments or remote locations. Request for a free sample copy of this research report @  https://www.psmarketresearch.com/market-analysis/distributed-fiber-optic-sensor-market/report-sample Some of the factors like increasing adoption of distributed fiber optic sensors in oil and gas and soaring demand from the civil engineering vertical are expected to propel the growth of global distributed fiber optic sensor market in near future. Based on application, distributed fiber optic sensor market can be classified into tempera
Post a Comment
Read more