Global Smart City ICT Infrastructure Market Size and Forecast to 2025
At Verified Market Intelligence, we provide a market study that encompasses both qualitative and quantitative assessments of latest trends for the market segmentations classified by our analysts. According to Verified Market Intelligence, the Global Smart City ICT Infrastructure Market was valued at USD 471.52 billion in 2017 and is projected to reach USD 1714.31 billion by 2025, growing at a CAGR of 17.5% from 2018 to 2025.
The emergence of Smart City is a revolution on its own wherein it integrates information and communication technology (ICT) and internet of things (IOT) to develop a solution to manage multiple assets at once. The development of smart cities is pushing the manual activities such as traffic management and administration of schools, hospitals, etc. towards an era of digitization and automation. This requires an ample amount of digital infrastructure which can fulfil the demands of a smart city.
Smart grid system is a component of smart city which possesses automatic allocation of high voltage power supply to low voltage and prevent appliances from getting damaged. Along with smart infrastructure, development of applications based on big data analytics is also required to facilitate the needs of a smart city and improve the quality and enhance the efficiency.
The active funding from the government to develop a smart city and growing digitization and automation are the potential drivers of the global smart city ICT infrastructure market while increased threats regarding cybercrimes might hinder the market to grow at a global level.
The “Global Smart City ICT Infrastructure Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as IBM, Huawei, AT&T, Cisco Systems, Oracle, NTT Communications, Vodafone, China Mobile, ABB, Hitachi, Verizon Communications, Honeywell International, Siemens, Schneider Electric, Toshiba, HP, Deutsche Telekom, Accenture, Nokia, Ericsson and Microsoft. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
As a part of market estimation, the study also comprises a list of tables and figures for the “Global Smart City ICT Infrastructure Market” which focuses on a constructive knowledge essential for the companies or individuals interested in the market study report. As a part of market segmentation, our study exhibits a market analysis on the basis of type, industry application and geography.
On the basis of type, the Global Smart City ICT Infrastructure Market are categorized by type. This market study analyses the industry for Global Smart City ICT Infrastructure based on this division. The Global Smart City ICT Infrastructure Market type is are divided smart grid, smart logistics, smart transport, smart water network, smart building, and smart education. In terms of geography, Asia Pacific accounts for the fastest growing market due to the presence of numerous developing countries in this region along with their emerging markets. The Chinese market has a major share in this region.
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