Smart Cities Market
Global Smart Cities Market: Growth Factors
The growing infrastructure, technological advancements in the information and communication technology along with the increasing urbanization are the factors driving the global smart cities market growth. The smart city solutions in various sectors such as construction, transportation, citizen services, and utilities in order to improve the living standard, efficiency, environmental protection, energy optimization and economic stability may boost the global market in future. The other factors driving the smart cities market are the use of technology in the IoT, mobility and sensor field, increasing energy consumption, government initiatives, cost-effective building infrastructure, limitations in capacity expansion, and rising renewable energy share.
Global Smart Cities Market: Segmentation
The global smart cities market is bifurcated on the basis of focus area, services, and geography. The focus area segment is further categorized into transportation, buildings, utilities, and smart citizen services. The transportation sub-segment is grouped into rails and roads. The buildings sub-segment is further bifurcated into commercial and residential. The utility sub-segment of the global smart cities market is further divided into water, gas, and energy. The smart citizen services sub-segment is categorized into healthcare, education, and security. The services segment includes management and planning, consulting, infrastructure monitoring and integration. The geographical segmentation of the global smart cities market includes Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America.
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