Increasing urban population along with
industrialization has positively impacted the smart cities market, according to
a new study by Grand View Research,
Inc. Integrated citywide solutions in order to address a range of issues
such as public safety, street lighting, energy, water management and urban
mobility are expected to be implemented within the forecast period. Growing
range of suppliers and improved local economies are expected to favor the
emerging needs for the market. Lack of investments in legacy systems, political
and socio-economic factors could pose a challenge to market growth. Increasing
need for electronic waste management due to proliferation of electronic
components is a considerable opportunity for companies operating in the market.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/smart-cities-market
Further key findings from the study
suggest:
- Smart security is expected to account for majority of the overall market share and remain the dominant segment up to 2020. This is mainly attributed to reduced third party misuse by imposition of high security requirements. Smart transportation is expected to minimize the economic burden of regulatory bodies by reducing fuel consumption and traveling delays.
- North America is expected to continue being the largest regional market over the next six years. Expanding transportation sector, improvements in water infrastructure and increasing smart grid investments have spurred regional growth. Government regulations towards reducing carbon footprint by use of renewable resources are expected to drive the regional market. Asia Pacific is expected to witness high growth, mainly due to high residential development demand in China and India.
- Key companies operating in the market include IBM, Alcatel-Lucent, Accenture, ABB, Cisco, Cubic, Honeywell and Oracle. Manufacturers in Asia Pacific have been focusing on investments in R&D activities in order to ensuring global presence and strengthen their distribution network.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
For the purpose of this study, Grand
View Research has segmented the global smart cities market on the basis of
application and region:
Smart
Cities Application Outlook (Revenue, USD Million, 2012 – 2020)
• Smart Energy Management
• Smart Security
• Smart Transportation
• Industrial Automation
• Smart Healthcare
• Smart Buildings
• Smart Homes
• Others
Smart
Cities Regional Outlook (Revenue, USD Million, 2012 – 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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