Smart City Market in l4 Industry to grow by $ 151.99bn|Technavio
According to Technavio, the smart city market size is expected to value at $ 151.99 bn during 2021-2025. The market sizing analysis in the report reveals that the market growth will progressing at a CAGR of 19.43%. The report offers exclusive detailed COVID-19 impact study, which majorly highlights vendor performance and new business opportunities during and post pandemic period.
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Smart City Market Trends & Drivers
The smart city market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand. While it is essential to capitalize on key drivers such as increase in it consolidation and modernization, it is also crucial to understand the challenges that will impede sales during the forecast period. Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.
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The smart city market has also explored key trends such as , which will have a significant positive impact on the market growth over the forecast period. A thorough study of the market trends will enable vendors to understand demographics effectively, which can be used to further product and service innovation.
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Smart City Market: Segmentation Analysis
This market research report segments the smart city market by Application (smart infrastructure, smart energy, smart mobility, smart security, and others) and Geography (Europe, North America, APAC, South America, and MEA).
The Europe region led the smart city market in 2021, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the Europe region is expected to register the highest incremental growth due to factors such as .
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A few of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
