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 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. Request a free sample report
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Technavio has announced its latest market research report titled Global Smart City Market 2020-2024 (Graphic: Business Wire)
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. Although the decrease in prices of connected devices will offer immense growth opportunities, the high cost of upgrading smart grids will challenge the growth of the market participants. To make the 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.
Decrease in prices of connected devices has been instrumental in driving the growth of the market.
Smart City Market 2020-2024 : Segmentation
Smart City Market is segmented as below:
Smart Governance And Education
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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. Our smart city market report covers the following areas:
Smart City Market size
Smart City Market trends
Smart City Market industry analysis
This study identifies the proliferation of smart city projects in emerging economies as one of the prime reasons driving the smart city market growth during the next few years.
Smart City Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the Smart City Market 2020-2024, including some of the vendors such as ABB Ltd., Accenture Plc, Alphabet Inc., Cisco Systems Inc., HP Inc., and International Business Machines Corp. Backed with competitive intelligence and benchmarking, our research reports on the Smart City Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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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 :
Value chain analysis
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 Segmentation by Application
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
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
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 positioning of vendors
Cisco Systems Inc.
International Business Machines Corp.
LG Electronics Inc.
Scope of the report
Currency conversion rates for US$
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210119006216/en/