Technavio has been monitoring the smart city market and it is poised to grow by USD 2118.14 billion during 2020-2024, progressing at a CAGR of almost 23% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200910005656/en/
Technavio has announced its latest market research report titled Global Smart City Market 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions-
- Based on segmentation by application, which is the leading segment in the market?
- The smart governance and education segment is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- An increase in IT consolidation and modernization is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 23%, the incremental growth of the market is anticipated to be USD 2118.14 billion.
- Who are the top players in the market?
- ABB Ltd., Accenture Plc, Alphabet Inc., Cisco Systems Inc., HP Inc., International Business Machines Corp., LG Electronics Inc., Microsoft Corp., Oracle Corp., and SAP SE. are some of the major market participants.
- What are the key market drivers and challenges?
- Increase in IT consolidation and modernization is one of the major factors driving the market. However, the high cost of upgrading smart grids restraints the market growth.
- How big is the Europe market?
- The Europe region will contribute 40% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Accenture Plc, Alphabet Inc., Cisco Systems Inc., HP Inc., International Business Machines Corp., LG Electronics Inc., Microsoft Corp., Oracle Corp., and SAP SE are some of the major market participants. The increase in IT consolidation and modernization will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Smart City Market 2020-2024: Segmentation
Smart City Market is segmented as below:
- Smart Governance and Education
- Smart Energy
- Smart Healthcare
- Smart Security
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41110
Smart City Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart city market report covers the following areas:
- Smart City Market Size
- Smart City Market Trends
- Smart City Market Analysis
This study identifies enhanced global broadband connectivity as one of the prime reasons driving the smart city market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio’s SUBSCRIPTION platform
Smart City Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart city market growth during the next five years
- Estimation of the smart city market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart city market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart city market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Smart governance and education – Market size and forecast 2019-2024
- Smart energy – Market size and forecast 2019-2024
- Smart healthcare – Market size and forecast 2019-2024
- Smart security – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Accenture Plc
- Alphabet Inc.
- Cisco Systems Inc.
- HP Inc.
- International Business Machines Corp.
- LG Electronics Inc.
- Microsoft Corp.
- Oracle Corp.
- SAP SE
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.