Smart cities outline the idea of using new & innovative connective technologies to make urban living more luxurious, efficient, cost-effective and, environment-friendly. Internet of Things, sensors, and big data analytics act as supportive measures to expand internet access, promote use of renewable energy through adoption of electric vehicles, implement smart lighting systems, and several others. Companies operating in the global market have introduced several virtual network platforms to better connect mobile devices and IOT connections to automate deployments of sensors and various endpoints. The global smart cities market is expected to grow at a CAGR of over 18% from 2017 to 2025.

The market is segmented based on component, area of application, and geography. Based on component, the market is divided into smart security, small infrastructure, smart energy, smart building, smart mobility, smart healthcare, smart governance & education, and others. The areas of application are further sub-categorized into transportation, utilities, buildings, and smart citizen services. Transportation includes smart transportation, parking management, passenger management, fleet management, and services. The utilities segment is further divided into smart metering and meter data management, smart distribution management system, and meter data analytics and services. Smart citizen services include smart education, smart healthcare, threat management, and others. Smart building is further subdivided into access control, parking reservation, facility management, and energy optimization and services. Geographically, the global market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

Market Dynamics:

Drivers:

• Increase in use of wireless internet, growing cloud service awareness, declining prices of monitoring and control devices

• Effective management of power supply, automated control systems, reduced greenhouse emissions, and increased security

Restraints:

• Ageing infrastructure in developed countries and gaps in data management

Market Players:

The top players in the global smart cities market include Intel Corporation, Siemens AG, Cisco Systems, Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Schneider Electric, Hitachi, Ltd., Ericsson Inc., Accenture, Honeywell International, Inc.

KEY TAKEAWAYS

MARKET LANDSCAPE

• By Component

o Smart security

o Smart infrastructure

o Smart energy

o Smart building

o Smart mobility

o Smart healthcare

o Smart governance & education

o Others

• By Application Area

o Transportation

o Smart transportation

o Smart parking management

o Passenger management

o Fleet management

o Services

o Utilities

o Smart metering & meter data management

o Smart distribution management

o Meter data analytics

o Services

o Buildings

o Access control

o Parking reservation

o Facility management

o Energy optimization

o Services

o Smart citizen services

o Smart education

o Smart healthcare

o Threat management

o Others

• By Geography

o North America

? U.S.

? Canada

? Mexico

o Europe

? UK

? Germany

? France

? Spain

? Italy

? Rest of Europe

o Asia-Pacific

? China

? Japan

? India

? Australia

? South Korea

? Rest of Asia-Pacific

o LAMEA

? Brazil

? Saudi Arabia

? South Africa

? Rest of LAMEA