Smart Cities Global Market Report 2022: 5G Technology Will Play a Transformative Role in Industry Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–Added Smart Cities – Global Market Trajectory & Analytics report ResearchAndMarkets.com Offer.

The global smart cities market is projected to reach $2.8 trillion by 2027

Amid the COVID-19 crisis, the global smart city market, valued at US$680.7 billion in 2020, is projected to reach a revised size of US$2.8 trillion by 2027 and in 2020- Grow at a CAGR of 22.1% in 2027. Hardware, one of the segments analyzed in the report, is expected to register a CAGR of 19.6% and reach $1.3 trillion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, growth in the Software segment is adjusted to a revised annual growth rate of 23.5% for the next 7 years.

The US market is valued at US$206.5 billion while China is forecast to grow at CAGR 25.6%

The smart cities market in the US is valued at US$206.5 billion in 2020. China, the second largest economy in the world, is forecast to reach a projected market size of US$402.5 billion by the year 2027, representing a CAGR of 25.6% over the 2020-2027 period. Among the other notable geographic markets include Japan and Canada, which are forecasting growth of 17.5% and 20.5%, respectively, over the period 2020-2027. Within Europe, growth of approx. 24.5% CAGR is forecast for Germany.

Select competitors (total 187 featured)

  • ABB Ltd.

  • Accenture Plc

  • AppyWay

  • AVEVA Group plc.

  • Cisco Systems, Inc.

  • engineering

  • General Electric

  • Hitachi, Ltd.

  • Honeywell International, Inc.

  • Huawei Technologies Co.,Ltd

  • IBM Corporation

  • Intel Corporation

  • Itron, Inc.

  • Johnson Controls International plc

  • Kapsch TrafficCom AG

  • Libelium Comunicaciones Distribuidas SL

  • Microsoft Corporation

  • Nokia Corporation

  • Oracle Corporation

  • Osram GmbH

  • Panasonic Corporation of North America

  • SAPSE

  • Schneider Electric SA

  • Siemens AG

  • Mean Netherlands BV

  • Tata Consulting Services – Telefonaktiebolaget LM Ericsson

  • Telensa Limited

  • Thales Group

  • TomTom NV

  • Urbiotics

  • Verizon Communications, Inc.

  • Vodafone Group plc

  • Worldsensing SL

Main topics covered:

I. METHODOLOGY

II. SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECTED PLAYERS

3. MARKET TRENDS & DRIVERS

  • Advanced technologies create the perfect ground for the transformation of smart cities

  • Transformational role of 5G technology and Wi-Fi 6/6E in the development of smart cities

  • 5G brings greater scalability

  • Digital twins provide meaningful insights into smart city projects

  • Cyber-Physical Systems & Robotic Process Automation for wider adoption

  • Blockchain technology will gain importance in resource sharing and intelligent logistics

  • Investing in smart city tech startups is a prudent decision amid a pandemic

  • Focus on building resilient smart cities to drive demand for better internet infrastructure

  • Growing ecological footprint of cities shifts focus to smart cities

  • Funding Support: Essential for Smart Cities initiatives

  • The shift to an open governance model is fueling interest in smart cities

  • V2X communication seeks role in smart city infrastructure

  • C-V2X: The upcoming future-proof V2X standard

  • The IoT lies at the heart of the connected, self-aware environment embodied by smart cities

  • IoT implementations in Smart Homes & Buildings

  • Increasing importance of Smart City as a Service

  • Uniform smart city platforms make big data a reality

  • The transformative role of AI technologies in smart cities optimizes urban services

  • The combination of IoT and AI opens up opportunities

  • Big data drives smart cities and data analytics improves smart city services

  • Fascinating benefits of edge computing span all aspects of smart cities

  • E-government: imperative for transforming cities into smart cities

  • The delivery of Smart Municipal & Utility Services is gaining momentum

  • Smart grids essential for intelligent energy distribution

  • Focus on smart energy management opens up opportunities for smart meters

  • Introduction of intelligent spiral water meters in cities worldwide

  • Smart gas solutions lay a strong foundation for the digital transformation of gas infrastructure and strive to revolutionize how gas utilities operate

  • IoT-based smart metering to create smarter and connected cities

  • Demand-based energy management: Essential for a low-carbon smart city footprint

  • Safety in Smart Cities receives undivided focus

  • Video surveillance plays an important role in public safety in smart cities

  • Advanced analytics for surveillance systems

  • Smart Buildings & Homes get a fair share of the development focus

  • Smart buildings essential to build a smart city

  • Focus on Net Zero Energy Buildings (NZEB) sparks interest in smart building technologies

  • With connectivity being the most important element of smart buildings, In-Building Wireless (IBW) takes the spotlight

  • Consumer spending on smart home technologies is gaining momentum

  • Smart building analytics is gaining in importance

  • Smart and connected lighting systems are making cities smarter and safer, and helping governments turn infrastructure liabilities into assets

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report, visit https://www.researchandmarkets.com/r/gk8gyt

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